Search found 11 matches
- Sat Feb 20, 2016 12:03 pm
- Forum: Canada / United States Tax & Accounting
- Topic: SDOP or SFOP if you were non-resident for first two years
- Replies: 3
- Views: 2268
Hi nelsona, I did file 1040 and Sched B last year, but confused some of the reporting thresholds and didn't know about the TFSA as foreign trust situation. I'll be correcting this for 2014 and filing correctly going forward. The 1040NR and 1040NREZ are perfectly fine for nonresident aliens however. ...
- Fri Feb 19, 2016 4:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: SDOP or SFOP if you were non-resident for first two years
- Replies: 3
- Views: 2268
After talking to IRS
I ended up calling the OVDP Hotline at 267-941-0020 and left a message, they returned my call the same day. Just thought I'd post this for anybody else in the same boat. They clarified that the Foreign Offshore Disclosure eligibility is based on physical presence not tax residency. So I will file un...
- Fri Feb 19, 2016 12:26 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Taking stab at 3520, -A for TFSA
- Replies: 157
- Views: 217328
- Fri Feb 19, 2016 12:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Taking stab at 3520, -A for TFSA
- Replies: 157
- Views: 217328
- Fri Feb 19, 2016 12:50 am
- Forum: Canada / United States Tax & Accounting
- Topic: SDOP or SFOP if you were non-resident for first two years
- Replies: 3
- Views: 2268
SDOP or SFOP if you were non-resident for first two years
Quick question (or not depending): I was a US non-resident alien for 2012 & 2013, but a resident alien for 2014, under the terms of my J-2 visa (first two years I am an exempt individual). Given that I technically was non-resident for 2 of the last 3 years, would I use the Streamlined Domestic o...
- Thu Feb 18, 2016 5:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Canadian moving to the United States: TFSA RESP concern
- Replies: 12
- Views: 6185
My two cents from personal experience (also in the US for my husband's medical residency training, but under a J-1/2 visa instead): Whether to file as US resident/non-resident depends on whether you still have significant residential ties to Canada (house, bank accounts, you intend to go back within...
- Thu Feb 18, 2016 12:42 am
- Forum: Canada / United States Tax & Accounting
- Topic: Taking stab at 3520, -A for TFSA
- Replies: 157
- Views: 217328
- Thu Feb 18, 2016 12:36 am
- Forum: Canada / United States Tax & Accounting
- Topic: Taking stab at 3520, -A for TFSA
- Replies: 157
- Views: 217328
negative growth reporting?
I just went through this very helpful thread, I think I have a handle on everything except for the balance sheet (of course). This is how I filled it out for a pre-existing TFSA for 2015. I am a Canadian who is a resident alien in the US. Part III Beginning of Tax Year 2015 Line 1 Cash, Line 11 Tota...
- Wed Feb 17, 2016 5:42 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 3520/A whose EIN do I need?
- Replies: 15
- Views: 18234
My recent experience
Just for info for TFSA owners living in US, whose CDN banks don't have an EIN: 1) fill out SS-4 form: line 1: legal name of entity - I put my full name and appended TFSA (i.e. Jane Doe TFSA) line 2: trade name of business - left blank line 3: executor, administrator, trustee, "care of" nam...
- Tue Feb 16, 2016 11:34 am
- Forum: Canada / United States Tax & Accounting
- Topic: TFSA deposit account still considered a foreign trust?
- Replies: 3
- Views: 2621
- Mon Feb 15, 2016 11:39 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TFSA deposit account still considered a foreign trust?
- Replies: 3
- Views: 2621
TFSA deposit account still considered a foreign trust?
I haven't been able to Google a satisfactory answer to this specific question so hopefully someone out there may have the answer. My TFSA is specifically set up as a deposit account, not under any trust arrangements, and does not have any investment in mutual funds - interest is accrued similar to a...