I had rrsps in 2007 and i haven't filled out a 8891 before?

MIKE2000Z28 · Post by **MIKE2000Z28** » Thu Apr 15, 2010 2:14 pm

My accounts have reached over 10k this year in foreign accounts, and i have never used the tdf 90.22 form or the 8891. My wife gave me a few spousal rrsps in 2007,2008. Can i fill out 8891s to cover those tax years? Lets say fill out an 8891 with the year ending 2007, 2008 and 2009? I wanna declare everything i have to the IRS so i don't get into any trouble.

Can i just list all my rrsps for 2009 and elect to defer my tax and that would cover the previous years? I have done searches, but im unsure and don't want to screw anything up. Don't really have any tax professionals around here except one at hr block which she doesn't know all that much beyond a basic US return.

nelsona · Post by **nelsona** » Fri Apr 16, 2010 8:50 am

I have discussed 8891 at length, please search this forum.

You need top go back to first year you had RRSP and flied a 1040, and proivide 8891 for each account.

MIKE2000Z28 · Post by **MIKE2000Z28** » Fri Apr 16, 2010 9:45 am

So basically with this return, attach 8891s covering previous tax years? The rrsps i had then i still have now so if i declare all of them this year, does that mean i still have to backfile or once i declare them all and elect to defer my tax it covers previous years.

Nelsona, i did do various searches on the internet and this forum, however i couldn't get a definitive answer as the questions didn't relate to mine exactly.

nelsona · Post by **nelsona** » Fri Apr 16, 2010 11:38 am

No, you need to amend previous year returns to add this form for each account and each year. I would do this before sending this year's return.

MIKE2000Z28 · Post by **MIKE2000Z28** » Fri Apr 16, 2010 1:08 pm

Alright thanks a bunch Nelsona, so im just going to file 1040x with the same info and just add the rrsp 8891 forms attached to it. In the explanation box, should i just say i forgot to include them? I don't want them to come after me so i want to be cautious in what i say. The truth is i had no clue i had to include them at the time.