How to report RRSP Term GIC on the FBAR and 8891

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khaos526
Posts: 7
Joined: Thu Jan 12, 2012 10:21 am

How to report RRSP Term GIC on the FBAR and 8891

Post by khaos526 »

Ok for the FBAR they require the highest quarterly statement for each year. How do you disclose the highest quarter amount for the year for Term GICs?

In this account I have 3 GIC's which are all due at different times. I have contacted my bank trying to figure out the totals, but since they are 3 year terms that keep getting renewed, I am at a loss as to how to discloses this in the FBAR and 8891 forms for the past several years.

Thanks
tsanaha
Posts: 268
Joined: Sun May 29, 2011 6:51 am

Post by tsanaha »

your best estimate will be fine. it is not reporting income, it is just to report US Gov, that you have this account offshore.
khaos526
Posts: 7
Joined: Thu Jan 12, 2012 10:21 am

Post by khaos526 »

Ok great, that helps a lot...
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