It is my first time filing a US tax return, and I would like to confirm what exactly needs to be done. I apologize if this had been answered before, but I couldn't find a thread with my exact situation, so I still have questions. Here is my situation:
I came to the US in December 2016 on a TN visa, so I was in the US working for the entirety of 2017. I was not planning to stay in the US for long (originally only 6 months), but just ended up deciding to stay a few more months, and then a few more and a few more, and I'm still here now, still with the intent of moving back to Canada. I understand I am a US resident do tax purposes for 2017. I just have a standard bank account in the US and have a W2 to report income. In Canada I have standard bank accounts, a savings account, RRSP, and TFSA. I did not contribute anything to my RRSP or TFSA in 2017, but I believe they gained some interest.
1) Should I have filed a departure return? Does that need to be done now? I am only realizing this now after reading some other threads
2) Is it correct that I need to file a regular 1040? Do I need to file a 3520 and 3520A for the TFSA? Or a finCEN 114?
3) is there any other form I need to be filing? Or is there anything I'm overlooking? Should I meet with an accountant to assist with filing since it's my first time?
I appreciate the help so much!
Canadian citizen with TN visa, first time filing in US
Moderator: Mark T Serbinski CA CPA
TN visa holder filing US income tax return
I have similar situation (Canadian citizen on TN visa) where I didn't intend to stay in US for long but because of job kept living here (ultimately would go back to Canada). Additionally I have house and savings account (CAD and a US interest savings account with TD where I have kept USD). In order to declare TFSA and savings account, kindly confirm that I have to even if assets are <50K, I have to file 3520, 3520-A and finCEN 114? Due date for forms is March 15, so only one day left. Hence your response would be greatly appreciated. Since I didn’t file these forms in 2016 return, could I specify/mention/declare in my 2017 return. Thank you so much.