what forms do I need for Green Card holder Canadians that

newliweds · Post by **newliweds** » Sun Mar 04, 2012 3:51 am

what forms are required to file for Canadian Green Card holder that owns Canada CIBC's TFSA-GIC(Tax Free Saving Account) and RRSP which a combined total of just a little over 10k ?

1040
1040 schedule B
8891 RRSP
TD.F 90-22.1 FBAR
anything else ?

Thanks

nelsona · Post by **nelsona** » Sun Mar 04, 2012 7:04 am

if your tfsa is atrust. you need forms 3520/3520-a

Presuming you have other taxable income (your tfsa is taxable, but gic only taxable at maturity), you will need either 2555 to exempt wages and/or 1116 to take credit for your Cdn taxes.

newliweds · Post by **newliweds** » Sun Mar 04, 2012 3:02 pm

I do have Canadian income during 2011, but that was before I became a US resident, which was around September. So in that case, am I still required to file the 2555 or 1116 ?

Thanks

nelsona · Post by **nelsona** » Sun Mar 04, 2012 11:16 pm

Yes, if you are filing a 1040, you are reporting world income, thus you need soem way to reduce US tax on that income.