Market Growth GICs for US Citizens in Canada

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okiekoyote
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Joined: Tue Oct 09, 2018 3:35 pm

Market Growth GICs for US Citizens in Canada

Post by okiekoyote »

Are "Market Growth" GICs viewed the same by the IRS as other types of GIC's for US Citizens in Canada? Or do they incur extra reporting above simple interest?
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Market Growth GICs for US Citizens in Canada

Post by nelsona »

They only earn interest don't they? So they are merely GICs with a gimmick. IRS doesn't care as long as you report the interest and the existence of the account.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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