Tried searching for an identical situation but here I am. Married my US wife in April 2012 and entered on CR Visa November 16. I have no employment income in either country but still have RRSP's and dividend income on a CDN investment account.
From what I can glean we will file jointly(she is employed). I need to file an 8891 and FBAR. Is that it?
Do I want to "Elect to Defer U.S. Tax in 2012" on my 8891. I am just not clear on the implications of that. I may very well withdraw my RRSP's this year regardless.
Regards,
Lee
2012 US Perm Resident, No CDN or US Income, RRSP's
Moderator: Mark T Serbinski CA CPA
You should always defer. No point not deferring.
You must close your Cdn investment (non-RRSP account).
If you file jointly, you report all worldwide income for the entire year, not just what you made after moving.
You also file a departure return for canada on which you pay departure tax.
You must close your Cdn investment (non-RRSP account).
If you file jointly, you report all worldwide income for the entire year, not just what you made after moving.
You also file a departure return for canada on which you pay departure tax.
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