Changing T5 to NR4

[jlking75]

I'm a US citizen & my husband is a Canadian citizen holding a US greencard, and we're living in the US. We sold his Canadian business in 2022 and opened a non-resident tax account to pay the 25% withholding for those profits. He only spent a few weeks in Canada in 2022 to deal with closing the business so will be considered a non-resident for 2022. He didn't close his Non-registered investment account or his RBC checking/savings accounts. We just received T5s for the interest income and capital gains dividends each ~$150. Do we need to contact both companies and have them change the accounts to non-resident accounts and issue a NR4 instead of a T5 so we don't have to file a non-resident tax return?

[nelsona]

No need.

First, your non-registered investment account should be closed. You are not allowed to have a Cdn account if a Resident of the US. The bank accounts are ok.

They typically won't reissue these. If you give the bank your correct residency, they *might* send you NRs next year, but you can figure out the income for yourself in any event.