Canadian moved to US and confused

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cansocal
Posts: 1
Joined: Wed Feb 24, 2016 1:13 pm

Canadian moved to US and confused

Post by cansocal »

Hello everyone,

Here goes (any answers to my many questions are truly appreciated)

- I moved to the US from Canada first week of December 2014
- I was still working for my Canadian company until mid January 2015
- The company switched me to their US payroll around mid January
- I still have an RRSP in Canada (though no contributions have been made). The account just sits there.
- I sold my house in Canada AFTER I had moved to the US

now the fun part:

2014:

- I filed income tax with CRA for 2014.
- I did NOT file income tax with IRS for 2014. I guess that's my first mistake. I was under the impression that you need to file income tax
in the US if you had income from US sources. I'm planning on back filing with the IRS for 2014. the catch is, from what I have read, is that I was supposed to report the RRSP to FBAR no later than june 30 2015 (for the 2014 tax season). questions:
-- Will there be any penalty for back reporting the RRSP for 2014 ?
-- I'm assuming since I had lived less than 30 days in the US in 2014, most of my income for 2014 is considered world income? am I correct?


2015:

Like a good boy, I started preparing my 2015 CRA return & my 2015 IRS tax return (this is when I discovered the issues about 2014 described above)

questions:

-- I'm planning to file as non-resident for the 2015 CRA return (i had worked 2 weeks in January for my Canadian branch) and received income from Canada.

-- I'm planning on reporting the Canadian income for the first weeks of January (from my T4) with the IRS as world income. Is that correct?
-- I'm planning on reporting my RRSP account for 2015 and do the FBAR filing. still good right?
-- I'll be reporting my bank account that received the proceeds of my house sale in Canada before transferring the money to the US. is that
compliant with FBAR regulations?


bottom line, I'm trying to be compliant with both the IRS and CRA.

Am I on the right track ?

Thanks.
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