Market Growth GICs for US Citizens in Canada

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okiekoyote
Posts: 1
Joined: Tue Oct 09, 2018 3:35 pm

Market Growth GICs for US Citizens in Canada

Post by okiekoyote »

Are "Market Growth" GICs viewed the same by the IRS as other types of GIC's for US Citizens in Canada? Or do they incur extra reporting above simple interest?
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nelsona
Posts: 18697
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Market Growth GICs for US Citizens in Canada

Post by nelsona »

They only earn interest don't they? So they are merely GICs with a gimmick. IRS doesn't care as long as you report the interest and the existence of the account.
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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