Search found 7 matches

by lbeauvil
Sun Jun 30, 2019 8:15 pm
Forum: Canada / United States Tax & Accounting
Topic: IRAs for non resident citizens
Replies: 40
Views: 1712

Re: IRAs for non resident citizens

Hi coco1106, did you get any news from your meeting with Fidelity in May? Did they confirm you can keep your retirement account with them after moving to Canada?

I'm trying to get the same confirmation from Prudential but not easy to have a clear answer.
by lbeauvil
Sun Mar 17, 2019 1:56 pm
Forum: Canada / United States Tax & Accounting
Topic: W-8 form
Replies: 5
Views: 244

Re: W-8 form

My understanding is that W-9 form is used to tell your financial institution to not withhold tax from 401k/IRA distribution as a US citizen living abroad.

https://www.irs.gov/forms-pubs/about-form-w-9
by lbeauvil
Sun Mar 17, 2019 1:49 pm
Forum: Canada / United States Tax & Accounting
Topic: Filing US + CA Departure returns - worth paying > 1.5K?
Replies: 2
Views: 217

Re: Filing US + CA Departure returns - worth paying > 1.5K?

I moved from Canada to the US in 97 and did my own tax reports in Canada and US! I made a bunch of mistakes and had Serbinski's firm refile 2 years of tax for me. For the first year I would recommend the use of experts.
by lbeauvil
Wed Apr 05, 2017 11:24 am
Forum: Canada / United States Tax & Accounting
Topic: CDN mortgage filing requirements for US citizens
Replies: 7
Views: 1184

Hi nelsona,
any idea about the temporary mortgage deposit trust? Does this need to be disclose in a FBAR and do we use only 50% of the join value?

Thanks
by lbeauvil
Wed Apr 05, 2017 9:57 am
Forum: Canada / United States Tax & Accounting
Topic: CDN mortgage filing requirements for US citizens
Replies: 7
Views: 1184

Thanks nelsona. I was apparently mistaken and there was a deposit given to the lawer to put in a trust for few days before closing on the house. - In this case does the trust need to be disclosed in FBAR and 8938 (if meeting treshold)? - If need to be disclosed, can she use only 50% of the value sin...
by lbeauvil
Tue Apr 04, 2017 9:12 am
Forum: Canada / United States Tax & Accounting
Topic: CDN mortgage filing requirements for US citizens
Replies: 7
Views: 1184

Thanks rafa02. I don't believe there was any interim downpayment to the lawyer, only direct payment to the seller and then the mortgage with the financial institution. So does this mean that the mortgage itself does not have to be disclosed anywere? It term of currency exchange I guess we'll deal wi...
by lbeauvil
Sun Apr 02, 2017 12:36 pm
Forum: Canada / United States Tax & Accounting
Topic: CDN mortgage filing requirements for US citizens
Replies: 7
Views: 1184

CDN mortgage filing requirements for US citizens

Hi, I have read many entries regarding Canadian mortgages but I'm still not sure on the filing requirements for it. I do tax report for my daughter who is a dual US/CDN citizen living in Canada. The current situation is: 1. She works and lives in Canada. 2. She bought in 2016 as a join owner with he...