2011 tax filing

eortlund · Post by **eortlund** » Thu Nov 17, 2011 9:25 pm

I am trying to understand if I need to do anything different next year. My understanding so far is that:

*I do not need to file a form 8621 if our mutual funds are solely contained in RRSPs.
*If our foreign assets exceed $50,000, I now need to file form 8398

Is this correct?

nelsona · Post by **nelsona** » Fri Nov 18, 2011 7:44 am

1 is correct.
2 I think you are quoting the wrong form. In any event, stay tuned here you will fing out all cross-border changes in 6 weeks or so.

nelsona · Post by **nelsona** » Fri Nov 18, 2011 7:47 am

8938 has many clauses, so lets hold off until (a) it is in final form, and (B) the rules are finalized.

But you will in all likelihood have to file this.

eortlund · Post by **eortlund** » Fri Nov 18, 2011 10:04 am

Thanks nelsona!