RRSP step up cost basis for cash?
Moderator: Mark T Serbinski CA CPA
Sigh.
You need to back-file for the years you missed. You are subject to penalty for not filing 3520 if you do not file 8891 instead.
You need to back-file for the years you missed. You are subject to penalty for not filing 3520 if you do not file 8891 instead.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Of course you would be subject to penalty. That was one of the 2 reasons to file 8891.
Foreign Trust reporting is required every year.
Foreign Trust reporting is required every year.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
thanks, and understand now...
ovdi ruling may likely take long time to resolve.. what i should do is to file f8891 next year (for 2011) as i had done all from 2003 to 2010 inside OVDI.
one technical problem is the election year. i would have to use the election year on what i filed inside OVDI even before IRS' decision (it may take more than a year).
Otherwise, I would have another year for non-filing f8891.
ovdi ruling may likely take long time to resolve.. what i should do is to file f8891 next year (for 2011) as i had done all from 2003 to 2010 inside OVDI.
one technical problem is the election year. i would have to use the election year on what i filed inside OVDI even before IRS' decision (it may take more than a year).
Otherwise, I would have another year for non-filing f8891.