Tax Residency Letter from the bank

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
akumar
Posts: 24
Joined: Sat Sep 14, 2013 8:24 pm

Tax Residency Letter from the bank

Post by akumar »

I moved to the USA 9 years ago from Canada, became a US citizen. Family moved back, I live in Canada part time. I got a letter from the bank stating changes in the income tax act parts XIX and XVIII asking about the countries of tax residence to be reported to the CRA. Always declared all my Canadian assets to the USA. Wife lives in Canada and a few accounts are joint. Can't really just answer some of the questions with a Y or N as asked on the form. Any advice?
Top
nelsona
Posts: 18698
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

How does CRA view you. If you are non-ressint say so, if you are not, you should be answering the same way you file your taxes.

Reporting your assets to USA doesn't make you US resident, since you would need to do this anyways, as US citizen.
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
Top
Post Reply

Return to “Canada / United States Tax & Accounting”