3520 (2003) form ... again ...

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Russ
Posts: 71
Joined: Wed Oct 27, 2004 12:09 pm

3520 (2003) form ... again ...

Post by Russ »

Well I thought my accountant had put in the form, but they haven't yet as there's 2 things that's giving them grief.

1. They want me to fill in trivial answers in Part 1 (I had left them blank) such as 6a/b/c, 11a - no, 13 - no.

I had not filled in those answers as I see in the instructions that Part I is only filled out for a 'reportable event'. And I see that a 'reportable event' doesn't apply for me as I didn't create it in 2003, didn't xfer any money, and I didn't die (or inherit it). This was an RRSP set up way be in the early 90's and this would be the first time I would be reporting it to the US.

Am I correct that I don't fill in Part 1 as there was no reportable event in 2003?


2. In Part II, line 22, it says: Did the foreign trust file Form 3520-A for the current year?

I had checked NO. And I know from this forum that I don't want to go down the 3520-A road. So what to do?

Choose YES and you had to file a 3520-A. Choose NO and they want you to put in a 3520-A.

Thx. for any help on this.
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