Minor child beneficiary -- form 3520

JohnSt · Post by **JohnSt** » Wed Jun 10, 2009 4:11 pm

If a US citizen (a minor child) is a beneficiary of an RESP, and both parents are Canadian only (not US citizens or green card holders), is form 3520 required to be filed on behalf of the beneficiary -- or is this required only when the distributions are made?

JohnSt · Post by **JohnSt** » Wed Jun 10, 2009 5:11 pm

Just to clarify my post, all are Canadian residents.

nelsona · Post by **nelsona** » Fri Jun 12, 2009 6:12 am

It is required throughout the existence of the RESP.

nelsona · Post by **nelsona** » Fri Jun 12, 2009 6:19 am

sorry, I missed the non-US part of the parents. No 3250 is needed; this is akin to Cdn grandparents sponsoring RESP for US child.

Of course, this prevents you from claiming the $1000 free money from IRS for your child every year, since you won't be filing a return.

JohnSt · Post by **JohnSt** » Fri Jun 12, 2009 11:48 am

Thank you. That helps to confirm my understanding -- but I use "understanding" loosely when it comes to 3520!