This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.
I am a Canadian holding a green card since 2005. It has come to my attention that I have to report any foreign account I hold with over 10 K. I have a rrsp account of 35K in canada. I have not deposited or withdrawn from that account since moving here, and I was not aware that I had to report this account to the irs, until I start to cash it in..Do I have to report this account, and if so, where do I, and how do I report such information.
I have not had any income or growth in this account...it rises and falls..depending on the market..mostly falling these days :cry:
Sorry to be so thick -- what is the amendment, if all that is happening is filing missing f8891s? Is it that the absence of 8891s would have exposed accruals/contributions to taxation in those years, and back filing them 'changes' that liability?
the 1040X will simply say: attaching 8891. No chjange to income,deductions or credits
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best