I received a T5 from a bank in Canada. Must I complete a T1 tax return to report this T5? I have been a tax resident of the USA since 2001. My other reporting slips from Canada were all "NR4" with 10 or 15% tax deducted for Canada. How do I pay Canada the 10% owed on this bank interest.?
Thanks
T5 issued to US resident
Moderator: Mark T Serbinski CA CPA
The way to correct this is by sending a letter to CRA (International) with a copy of the T5 and a checque for the proper withholding.
You should contact the payor and reitertae that you are a US resident (sometimes the mere fact of giving them a US permanent adress just 'click' in them that you are non-resident.
You should contact the payor and reitertae that you are a US resident (sometimes the mere fact of giving them a US permanent adress just 'click' in them that you are non-resident.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing