Form 8938 -- custodial or deposit account (?)

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Filo
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Form 8938 -- custodial or deposit account (?)

Post by Filo »

The Form 8938 instructions don't define the terms "deposit(ory) account" and "custodial account". The online definitions of "custodial account" refer to an account set up for a child.

Yes/no questions:

(1) Is an RRSP a custodial account?

(2) Is a spousal RRSP a custodial account?

(3) Is an investment account holding GICs a custodial account?

More yes/no questions:

(a) Is a bank chequing account a deposit(ory) account?

(b) Is a bank savings account a deposit(ory) account?

Side remark lest you think I'm nuts: the 8938 instructions randomly interchange the terms "deposit" and "depository".
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