RESP REPORTING - FORM 3520

osprey_ron · Post by **osprey_ron** » Fri Mar 16, 2012 11:21 pm

As I emigrated from Canada in 2011, this will be my first US tax return. Am I required to report contributions to a RESP if I am only a contributor; not the owner or beneficiary?

nelsona · Post by **nelsona** » Sat Mar 17, 2012 7:12 am

osprey_ron · Post by **osprey_ron** » Tue Mar 20, 2012 9:20 pm

Even if I hold no interests in the RESP; and neither the owner or the beneficiary are US persons?

nelsona · Post by **nelsona** » Tue Mar 20, 2012 9:45 pm

If you make the contributions, aren't you the owner?

ND · Post by ND » Fri Feb 22, 2013 2:57 pm

Where a NRA spouse is the only RESP party listed as the â€œsubscriberâ€ and/or as any other title anywhere & that NRA spouse has made an election to be treated as a US resident (such as under Code Sec. 6013), shouldn't that NRA spouse and the US spouse be exempt from 3520 reporting on 3520? For example, regarding FBAR, for the Treasury Department's Financial Crimes Enforcement Network (FinCEN) policy in determining whether an individual is a U.S. resident for FBAR purposes, the election under which a nonresident alien married to a U.S. citizen can be treated as a resident for tax purposes, is disregarded.
The 6013 elections appear to apply only for the purposes of chapters 1 and 24 of the Code; if that is correct, then information reporting under other chapters would not apply to someone who has made a 6013 (g) or (h) election.