Search found 23 matches

by taxeve
Mon May 25, 2015 10:11 am
Forum: Canada / United States Tax & Accounting
Topic: Changes coming to RRSP reporting
Replies: 25
Views: 24843

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 sm...
by taxeve
Sat Apr 18, 2015 7:08 pm
Forum: Canada / United States Tax & Accounting
Topic: RREGOP
Replies: 4
Views: 2931

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 Canad...
by taxeve
Fri Apr 17, 2015 7:45 pm
Forum: Canada / United States Tax & Accounting
Topic: RREGOP
Replies: 4
Views: 2931

RREGOP

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)?
by taxeve
Sun Mar 29, 2015 10:13 pm
Forum: Canada / United States Tax & Accounting
Topic: Guidance on Form 8938 with respoect to RRSPs
Replies: 53
Views: 54519

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.
by taxeve
Sun Mar 22, 2015 7:49 pm
Forum: Canada / United States Tax & Accounting
Topic: Closed TFSAs in 2014, are 3520/3520A forms still required?
Replies: 12
Views: 8922

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 me...
by taxeve
Tue Mar 17, 2015 10:40 am
Forum: Canada / United States Tax & Accounting
Topic: Form 8938 -- CSB issuer type? Life ins. reportable?
Replies: 15
Views: 12175

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 ...
by taxeve
Mon Mar 16, 2015 10:58 pm
Forum: Canada / United States Tax & Accounting
Topic: Form 8938 -- CSB issuer type? Life ins. reportable?
Replies: 15
Views: 12175

[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, Estat...
by taxeve
Thu Mar 05, 2015 11:02 am
Forum: Canada / United States Tax & Accounting
Topic: Canada Savings Bonds inside RRSPs
Replies: 1
Views: 1635

Canada Savings Bonds inside RRSPs

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 ...
by taxeve
Thu Mar 05, 2015 11:02 am
Forum: Canada / United States Tax & Accounting
Topic: Canada Savings Bonds inside RRSPs
Replies: 0
Views: 1516

Canada Savings Bonds inside RRSPs

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 ...
by taxeve
Tue Mar 03, 2015 10:04 am
Forum: Canada / United States Tax & Accounting
Topic: Investing without PFIC -form 8921
Replies: 11
Views: 7726

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.
by taxeve
Wed Feb 25, 2015 5:57 pm
Forum: Canada / United States Tax & Accounting
Topic: Investing without PFIC -form 8921
Replies: 11
Views: 7726

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 off...
by taxeve
Wed Feb 25, 2015 5:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Investing without PFIC -form 8921
Replies: 11
Views: 7726

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 na...
by taxeve
Sat Feb 21, 2015 6:29 pm
Forum: Canada / United States Tax & Accounting
Topic: Closed TFSAs in 2014, are 3520/3520A forms still required?
Replies: 12
Views: 8922

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 ?
by taxeve
Fri Feb 20, 2015 8:14 pm
Forum: Canada / United States Tax & Accounting
Topic: Investing without PFIC -form 8921
Replies: 11
Views: 7726

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...
by taxeve
Fri Feb 20, 2015 5:31 pm
Forum: Canada / United States Tax & Accounting
Topic: Investing without PFIC -form 8921
Replies: 11
Views: 7726

Investing without PFIC -form 8921

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.S. e...