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.
We are Canadian residents living in the USA and opened a Resp for our kids in Canada
We used my parents address because we were planning on moving back that year,However it has been 3-4 years now and I just sold what was in there( started at 4-6 k now 13 k in there. This is the first year that the RESP was over 10k. We file t216 income tax ever year in Canada but never reported the RESP. Are we in trouble for using a different address and not reporting this. I do not want to get in trouble for this and will talk to my Canadian CPA to report this for 2008 Tax year.. Any advice would be appreciated
We are in the USA on green cards and have been accepting the grant. We file 1040 returns in the USA and a 216 rental income tax return in Canada every year.
No not yet, I have had RESP,s in Canada since 2002!! If you look up David Ingram online, He is an international tax expert and has a Q and A form that you will find which papers you will need to file! Good luck!! I will post again when I talk to the IRS