Filed FBAR, 8891, never filed 8938

[andie]

I am a Canadian living here since 2006. I have Canadian RRSPs, LIRA, and bank accounts for which I have been completing the FBAR and 8891.

Now I discover about a new tax form that I need to complete: the 8938 form.

I also have a company pension, which was never reported on any tax form, because I thought I had read somewhere that because it's not managed by me, I didn't need to include it on the 8891? It's a very small pension, about $5,000.

Now I'm wondering if I should have included this pension account on the FBAR from 2006? Do I now also need to include all the FBAR items and the pension on the new 8938?

Thanks for any help.

[Mach7]

Depending on our financial assests for the year, and whether or not you are single or married, you may not have had to file an 8938 form.

I am sure Nelsona will weigh in on this...but my understanding is that if you are single, and your financial foriegn assests did not exceed 400k for the year, or 600k for year end (Dec 31st in most cases), then you do not have to file an 8938 form...(The values change somewhat for married etc.

Financial assests would include pensions, even if they are defined benefit...RRSP (or DC plans), your bank accounts etc.

You DO NOT include your prinicple residence in this calculation.

With respect to the FBAR, you do not include a Defined Benefit plan on this form as you have no signature authority of said account...however if you have a self directed RRSP, or your company has some sort of plan (DC) that you have control over, then you must include it.

hope this helps

[nelsona]

8891 is for RRSP, RRIFs, and their locked-in counterparts (LIRA, LIFs). Period.