Serbinski Accounting Firms

Re: 8938. I have Signature Authority (Bank Power of Attorney) over the bank account belonging to another individual. Must I report that other person's bank account on my 8938? It is not a Joint Account. I know such reporting in required on the FBAR but there is no mention of Signature Authority in t...

Is an ordinary bank GIC reportable as a 'Deposit Account' or a 'Custodial Account' on the 8938? If it is in neither of those two categories, then how is it reported?

[quote="voribo"]I think some of the problem using Part VI is that it does not fit RRSPs very well as RRSPs are financial accounts ( as is clearly called in the Fincens/FBARs) yet Part VI is for assets not held in a financial account..... go figure...see: Part VI. Detailed Information for e...

Re: Form 8938. Is Canadian RRIF reportable in Part VI as is an RRSP?
Is RRIF also reportable in Part I (Custodial Account) or in Part II or in both?
Is RRSP also reportable in Part I (Custodial Account) or in Part II or in both?

In the case of an RRIF, I'm going to call Investors Group to ask how they define themselves for the purpose Form 8938, Part VI, line 8a: 'Issuer' or 'Counterparty.' Just want to be sure. Will also call CRA. For useful information from the IRS, here's the number: IRS - International Section : 1-267-9...

[quote="acd257"]As per 8938 instructions we need to enter in RRSP info in Part VI line 1 thru 6 and line 8. My RRSP are with Investor Group in Canada. My question for line 8 a is it Issuer or Counterparty and 8b what type I need to select (1)individual or (2) partnership or (3) corporation...

Thanks. I will ask the bank for a statement to affirm that it is not a trust but only a simple bank account.

Regarding TFSA : What if TFSA was only simple bank savings account, not a trust. Are forms 3520 and 3520-A still required?