Back 8891s Can they all go in together or do you need 1040Xs

jenfin · Post by **jenfin** » Thu Jun 09, 2011 2:28 pm

I have been sending in 8891 s for my regular RRSPs but I have a couple of spousal plans. Assume I can backfile 6 years. Do I need 6 1040x or can they all go in together. Regards

nelsona · Post by **nelsona** » Thu Jun 09, 2011 2:42 pm

They should be filed with 1040-X, for each year.
Spousal plans should be filed by the person who OWNS the account (ie. the non-contributing spouse).

jenfin · Post by **jenfin** » Fri Jun 10, 2011 10:10 am

thank you. I am the owner. I have added them to my FBAR as well. Jen

nelsona · Post by **nelsona** » Fri Jun 10, 2011 11:45 am

For FBAR, there is probably good enough justification for having Spousal plans as "joint" accounts (especailly if the contributiong spouse is still your spouse), but at least having them appear somewhere on FBAR is the most important point.

Note that FBAR is also there for money laundering detection, so the fact thata spouse can put money into the account, makes bot the contributing spouse and the owning spouse part of the account for FBAR purposes.

Not a big deal. I have always reported spousal plan in one name only.