Serbinski Accounting Firms

RRSPs: Prior to 2014 I always completed form 8891 declaring the interest received on RRSPs. There were no distributions. I did not elect to defer; always simply checked 'No' on line 6a of form 8891. Then I included all the interest from the RRSPs on Schedule B and line 8a of the 1040. It was very ...

Thanks for your reply about the RREGOP (Quebec Government & Public Employees Retirement Plan. However, I still have questions.

- This was a lump-sum distribution (one time only), taxable in Canada.

- Is the amount I received exempt from U.S. taxes because of the Tax Treaty? Is this type of ...

I am a resident of Quebec and U.S. expat. Does anyone know how to report to the IRS a refund from the Quebec RREGOP (Public Employees Retirement Plan)?

Reply to PZ:
Not to sure about this. Best to check the on-line Instructions for the 8938. Also good idea to call the IRS International Section, telephone (267) 441-1000, options (4), (4). They will try to help. Try to call them early in the day before there is a longer wait time to speak to an agent.

Hi Subaron,
According to brief guidance from BDO (According to Wikipedia, BDO International is the fifth largest accountancy network in the world), "If the TFSA is not a set-up as a trust there is no filing requirement of form 3520/3520-A. However, the TFSA is not recognized by the IRS; that means ...

Hi K104XYZ. Thanks for your reply. I just called 'Canada Savings Bonds' 2 times earlier this morning. One agent told me that it was the Bank of Canada as Issuer and said it is a Corporation. Then, I called again just to verify. The second agent told me that it was not the Bank of Canada, but simply ...

[quote]PostPosted: Thu Apr 26, 2012 2:31 am Post subject: Form 8938 -- CSB issuer type? (Quote from 'Filo')


Form 8938 for US citizen residing in Canada:

(1) Canadian Savings Bond (Part II): Type of issuer is Government, but the available choices are Individual, Partnership, Corporation, Trust ...

Can anyone out there address these questions about Canada Savings Bonds inside RRSPs?
- Are RRSPs purchased through Canada Savings Bonds reportable on IRS form 8938 (assuming aggregate threshold is met for all assets) ?
- If so, are they reportable in Part VI of form 8938?
- What is the name of the ...

Can anyone out there address these questions about Canada Savings Bonds inside RRSPs?
- Are RRSPs purchased through Canada Savings Bonds reportable on IRS form 8938 (assuming aggregate threshold is met for all assets) ?
- If so, are they reportable in Part VI of form 8938?
- What is the name of the ...

Seth,
This was a very interesting website but I couldn't find anything there about investing in Canadian mutual funds. Is there another link you could recommend? Anyhow, I will keep to the Ghosh link for other useful information. Thanks.

I will visit those bank brokerage firms over the next few days and weeks. Also, I will check "Canadian Couch Potato." Right now I will park some funds in a high interest savings account -- a temporary arrangement till I can safely and wisely purchase ETFs.
By the way, Peoples' Trust is offering 1.8 ...

Thanks again, MGeorge. I will try to find such a brokerage firm or else work with my financial planner on a fee-only basis. Unfortunately, my financial planner has no clue and no motivation to sell anything but his usual Canadian-based mutual funds. Do I look for a Brokerage Firm? Any recommended ...

Mr. Buddy: Thanks for the explanation. So then, as I now understand it, if the account was opened as a TFSA simple bank deposit savings account, it is not a trust as there was no explicit declaration by the bank of it being a trust. It is, by default, not a trust. Right ?

Thank you, MGeorge. I will follow up on your advice and research these possibilities immediately. I'm glad to have a list of hopeful possibilities for investment.
Unfortunately, Financial Planners here in Montreal don't have a clue about anything except Canadian Mutual Funds and they are so eager to ...

What is the best recommended way for U.S. expats in Canada to invest in mutual funds while avoiding PFICs?

-Do we have to purchase shares in U.S. equities only, one by one?
-What about ETFs?
-Would a broker manage such safe investments or does each individual put together his own portfolio of U ...