Missed Filing Rev. Proc. 2002-23 in Prior Years

TaxTime · Post by **TaxTime** » Wed Mar 09, 2005 6:56 pm

I have missed filing under Rev. Proc. 2002-23 in prior years from 1999 to 2003. What should I do?

I did file election to defer under Rev. Proc. 89-45 for year 1998. paperwork. And there is no contribution to or distributino from my RRSP since. For TD F90.22.1 forms, I have filed for almost every year except one. I think it is much easier to forget to file for Rev. Proc. 2002-23 since there is nothing on 1040 to remind you. For TD F90.22.1, at least there is a question on Schedule A (or is it D?).

I am a Canadian living in the U.S. as a permanent resident.

Thanks for help from the folks on this forum.

nelsona · Post by **nelsona** » Thu Mar 10, 2005 10:08 am

If you filed 89-45 in 1998, why didn't you keep doing so?

In any event, RP 02-23 allows one to back file the statement, so send in a 1040-X for 1999 to 2003, with exactly the same RP statement you will prepare for 1999, except that for 2003 you will add the year-end value in US$ to the bottom of that statement.

Then for 2004, send in 8891, indicating 1999 as the first year you elected.

<i>nelsona non grata</i>

TaxTime · Post by **TaxTime** » Thu Mar 10, 2005 10:57 am

That is the question I have been asking myself. The answer I can honestly come up is "I screwed up". I wish I could have a better answer, but I cannot without writing a long story which will bore everybody on this forum.

By the way, Nelson, after my posting yesterday, I read your posts under thread "Please read/post about RRSP in US Here!!!" which address my question. From now on, if I have further questions in this area, I will post in that thread instead. Thanks for your response.