US citizen in Canada since 1987

albo · Post by **albo** » Fri Jan 15, 2010 3:00 am

Hi ,

Was going to open a TFSA until I got to the US citizen information. I had always been under the impression that since I had been living and working in Canada (and paying taxes here) that I was not required to file tax forms for the US. According to what I have stumbled upon it seems that I should have been filing returns in both countries. Any ideas about the situation I may be facing with the IRS?

nelsona · Post by **nelsona** » Fri Jan 15, 2010 6:53 am

You need to file the past 6 years, making all the required RRSP reporting, as well as FBAR report for the past year. Otherwise you areliable for IRS tax and interst and penalties.

You are FOREVER tied to IRS by citizenship.

albo · Post by **albo** » Fri Jan 15, 2010 11:35 am

Thanks. Great to know about the ball and chain...............If I became a Canadian citizen would that change anything?

nelsona · Post by **nelsona** » Fri Jan 15, 2010 11:52 am

Nope.

albo · Post by **albo** » Fri Jan 15, 2010 4:45 pm

Thank You