RESP -US OWNER

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

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sram
Posts: 1
Joined: Sun Oct 07, 2018 6:16 pm

RESP -US OWNER

Post by sram » Sun Oct 07, 2018 8:18 pm

Hello I am new to the forum and an not sure if anyone already asked this question. I have statements from a group scholarship plans for RESP's and cannot make head nor tail out of them. The institution doesn't have past years statements and I got some information on the phone. After the capital contributed was repaid to the subscriber ( in this case a US citizen), the grant and income are transferred to a pool and distributed as EAP twice a year for which the Canadian beneficiary receives the T4A. I cannot get the 3520A balance sheet to match line 11 and 21. It is so frustrating dealing with this institution. They wont provide any quarterly statements nor can they go back and retrieve past annual statements. Can help in how to report this is greatly appreciated. There were no contributions made nor was any grant received in the year except that a withdrawal was done.
Thank you

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