Canadian citizen with TN visa, first time filing in US

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jasmine
Posts: 1
Joined: Tue Mar 06, 2018 3:26 pm

Canadian citizen with TN visa, first time filing in US

Post by jasmine »

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!
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

1. Yes. I would even correct the 2016 return, with December 2016 departure.
2. Yes, yes, and yes for all foreign accounts.
3. These are all basic questions answered here many times.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
smalhot05
Posts: 10
Joined: Wed Mar 14, 2018 1:08 am

TN visa holder filing US income tax return

Post by smalhot05 »

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.
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