Should RRSP, TFSA be reported on FBAR

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sitonatree
Posts: 25
Joined: Tue Apr 08, 2014 12:46 am

Should RRSP, TFSA be reported on FBAR

Post by sitonatree »

I was told by some accountant that since I reported RRSP and TFSA on form 8891/3520/3520a already, I no longer need to report these accounts on FBAR. I don't think this is correct?

Thanks!
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

YOU are correct. So don't listen to this acct on anything he says.

What 8891/3520 reporting does mean is that you do not have to report the accounts' assets on form 8983 (although the account values are considered determine whether you need to file 8983).

Don't forget PFIC for non-RRSP.
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
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sitonatree
Posts: 25
Joined: Tue Apr 08, 2014 12:46 am

Post by sitonatree »

Thanks Nelsona, I won't listen to him:)
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