TDF90-22.1

eolson · Post by **eolson** » Mon Jun 27, 2005 4:36 pm

I am filing the above form for myself and my husband.
Please advise if it necessary foir us to each file this form or if we can do it jointly. We both have an individual and a joint account.
Also, do we include money we have in a farm co-op account that is used mainly for operating capital?
Thanks

nelsona · Post by **nelsona** » Mon Jun 27, 2005 11:51 pm

Typically, a couple might file 3 TD forms, one each for any accounts held separately, and one for any joint accounts.

If, on any day in 2004 you (as a couple) had a total more than US$10K in any foreign account, then they ALL have to be reported.

That's all bank and investment accounts which have YOUR money.

nelsona non grata... and non pro

Montreal_us · Post by **Montreal_us** » Tue Jul 05, 2005 10:39 pm

That last comment took me by surprise. I understood that only accounts that had in excess of US$10,000 at any time in the year were required to be listed on the form. The post seems to be saying that if ,for example, one of ten accounts(typically an RSP account) had over $10,000 every single account needs to be listed? Is there a provision to amend the TD form if not all accounts were listed?

nelsona · Post by **nelsona** » Tue Jul 05, 2005 10:50 pm

That is correct, even if you had 11 accounts, each with $1000, they would all have to be listed, since the aggregate toatl was in excess of $10,000, even if this was true on only one day of the year.

its pretty clear in the instructions.

You should just send in a second TD form listing ALL your accounts, every year from now on, including this one.

nelsona non grata... and non pro

Montreal_us · Post by **Montreal_us** » Tue Jul 05, 2005 11:12 pm

Has the IRS levied penalties on late filed TD F forms?

nelsona · Post by **nelsona** » Wed Jul 06, 2005 9:12 am

Not that I know of .. and certainly not 6 days past due.

nelsona non grata... and non pro