Serbinski Accounting Firms

Oh ok then
*goes back to her private jet*

[quote="ethomps"]Am I understanding the purpose of each form correctly? Spent a good 10+ hours reading other threads, as well as information all over the web. This tax stuff doesn't come naturally to me haha.

1 - 1040 Schedule B (Reporting the $300 in interest from TFSA)

2 - Form 3520 & Form 3520A ...

Oh, the account itself is the asset. I see it now :idea:
Thanks for the clarification!

The wording "account closed" as opposed to "asset disposed". There's no checkbox mentioning an account closed in Part VI.

Part V line 3b "Account closed during tax year"
Part VI line 3b "Date asset disposed of during tax year, if applicable"

But I see the instruction you're talking about now (in ...

Oh I see, you would put RRSP accounts in Part V. That would make more sense.
I was going to put them in Part VI and got confused.

So, for an RRSP, we fill only Part I and Part V.
For a savings or checking account, we would fill Part I, Part III and Part V.

Is that correct?
Or would we also have to ...

Hi! I'm a Canadian living in the US. I had many RRSPs in Canada and decided last year to merge them all together into an existing account, and also changed the fund at the same time.

How would I declare that? On which forms?

Example before:
Bank A - Account 0001 - Fund X - 10,000$
Bank B - Account ...

I just realized I might have done a big mistake by not reporting RRSPs and TFSA on my last two US/California tax reports (2012 and 2013). What would be the procedure to get compliant?

Situation:
- Canadian citizen, US resident on TN-1 since 2012
- 4 RRSPs, 3 from employers and 1 personal
- 1 TFSA ...