3520/3520a

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.

Moderator: Mark T Serbinski CA CPA

Post Reply
rogfed
Posts: 1
Joined: Thu Jun 18, 2020 8:27 pm

3520/3520a

Post by rogfed » Thu Jun 18, 2020 8:32 pm

Hi - Question for yall.

Does a 3520/3520A for a US citizen who has a Canadian TFSA need to be filled in when there nothing in the account - but the account is open?

Thanks yall

cqhg
Posts: 7
Joined: Fri Dec 14, 2018 11:18 pm

Re: 3520/3520a

Post by cqhg » Thu Jul 23, 2020 10:57 pm

Not report and you had better close this account immediately.

because the penalty is big ( $10,000)

Post Reply