RPPs on FBAR
Moderator: Mark T Serbinski CA CPA
RPPs on FBAR
I am a Canadian citizen with permanent residency in the US. Last year, my first year filing taxes in the US, I reported my undistributed Canadian defined contribution RPP on the FBAR. I am now reading that RPPs do not need to be reported on the FBAR. Is there consequences for reporting something on the FBAR you didn't need to? Can I leave it off this year or do I need to keep reporting it now?
Re: RPPs on FBAR
RPPs do not meet any of the criteria for FBAR reporting.
I would stop including it.
I would stop including it.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
Re: RPPs on FBAR
nelsona wrote:
> RPPs do not meet any of the criteria for FBAR reporting.
> I would stop including it.
Thank you. Would Form 8938 apply? The amount in the RPP did not meet the threshold last year but I expect it will this year.
> RPPs do not meet any of the criteria for FBAR reporting.
> I would stop including it.
Thank you. Would Form 8938 apply? The amount in the RPP did not meet the threshold last year but I expect it will this year.
Re: RPPs on FBAR
I think you can figure that out. It depends on ALL your foreign holdings, not just one account.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing