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?
2011 tax filing
Moderator: Mark T Serbinski CA CPA
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.
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.
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
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.
But you will in all likelihood have to file this.
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