I have been in the US for several years now and have been filing the FBAR every year, but now I realized that I also have a CPP and have never put that on the FBAR. (I do not receive payments from the CPP, and have no information about its balance)
Is the CPP reportable on the FBAR? If so, can I just start adding it to my FBAR now and check balance unknown, or do I need to amend all previous FBARS?
Is CPP reportable on FBAR
Moderator: Mark T Serbinski CA CPA
Re: Is CPP reportable on FBAR
Jason, the rule has been that any foreign holdings which accumulate to more than US$10.000 must be declared on the FBAR.
If you contact CPP, they can tell you the dollar amount of any holdings you may have with them. If less than $10K, then you are find.
Otherwise, you have some amending to do.
Hope this helps .. good luck!
If you contact CPP, they can tell you the dollar amount of any holdings you may have with them. If less than $10K, then you are find.
Otherwise, you have some amending to do.
Hope this helps .. good luck!
Re: Is CPP reportable on FBAR
CPP is NOT an account, much less a foreign account. It does not go on FBAR.
You have no imputed or otherwise value in CPP.
You have no imputed or otherwise value in CPP.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
Re: Is CPP reportable on FBAR
" If less than $10K, then you are find"
Your FBAR analysis is as poor as your spelling and will mislead someone here.
10k is an aggregate amount. Since he is already filing FBAR before deciding if another account must also be included, if such account must indeed be included (and forgot about CPP, just generalize here), then even if it has $1 it must be included.
Your FBAR analysis is as poor as your spelling and will mislead someone here.
10k is an aggregate amount. Since he is already filing FBAR before deciding if another account must also be included, if such account must indeed be included (and forgot about CPP, just generalize here), then even if it has $1 it must be included.
Re: Is CPP reportable on FBAR
AS I said, CPP is not an account.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing