Hi, my wife and I are US residents / dual citizens and have each had an RRSP and a LIRA account at TD Direct Investing (four accounts in total) for many years. Last July, we converted these RRSP and a LIRA accounts to RRIF's and LIF's respectively. We did not receive any funds from either the old accounts or the new accounts last year.
I am now preparing our 2015 1040 returns and am unsure how to complete Form 8938. I assume we need to report all four "old" and four "new" accounts since each account had some balance during 2015. Each account is being reported in a Part VI continuation statement as an "Other Foreign Asset". Do we enter a date into either line 3a (date RRIF/LIF was "acquired" in 2015) or 3b (date RRSP/LIRA was "disposed of" in 2015), or do we leave these lines blank since these were all direct rollovers? If I enter dates in these cells, then Turbo Tax checks the part II line 3 "yes" box (were any foreign assets acquired or sold during the tax year?).
Also, I assume we check line 3d (no tax item reported in part III for this asset). Is this correct?
Thank you for your time.
How to Report RRIF/LIF conversions on US Form 8938
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