US Treatment of Canadian intertest income for Dual Citizen

[cand1am]

As alluded to in the Subject heading, I am wondering if a Dual citizen living/working in the US has bank accounts in Canada with less than $10,000 aggregate, is there an interest income threshold under which one doesn't need to file this interest income with the US return. (And I am assuming since one is not living in Canada that one does not have to file a return with Canada and hence pay Canadian tax on this interest).

Any help would be appreciated.

Thanks,
DC

[nelsona]

As a non-resident of canada, your Cdn bank interst is not taxable in Canada (if it were, it would be a flat rate tax withheld on each payment -- not reported on a CDn return).

For US,all your worldwide income, including interest is taxable. there is no threshold.

The threshold for not having to reporting on TDF-90 22.1 is aggregate value of all your foreign accounts NEVER being more than $10K at any point in year. This is merely for reporting purposes, not taxation.