Mutual Funds in RRSP

[jjl292]

Hi all:

Canadian here - first year filing as a resident US taxpayer - living and working in the US. My only Canadian income in 2019 was $0.40 from 1 account and I have less than 50K in assets in Canada (so no 8938 needed because less than <$50k). So for these, I think I am only to file the interest income and the FBAR.

I am wondering if I still need to file a 8621. I did not liquidate my Mutual Funds held in RRSP (less than $10k USD) before moving to the US. My scan of forum posts here is that Canadian mutual funds held in RRSPs are not subject to the 8621 filing requirement because earnings from tax-deferred until distribution. I did not take a cash distribution, but I'm still unclear if reinvested distributions would be shielded if the mutual funds are held within RRSP.

Any thoughts/guidance? Trying to understand as much as possible before meeting with accountant! Any help would be greatly appreciated. Thanks!

[nelsona]

MFs held in RRSPs are not subject to PFIC rules, correct.