Filling requirement for Canadaian with GC
Moderator: Mark T Serbinski CA CPA
I am in the same situation. I got my greencard in August 2008 but have never lived or worked in the US. I have not filed any US taxes but I am always diligent with my Canadian taxes. I now just found out that I need to file my US taxes as well as many other fun forms. I plan to abandon my GC next month as well as my family ( wife and 2 kids - students) got GC the same time as me. We have substantial savings, RRSP, GICs, Mutual funds as well as RESP in our portfolio. If I am reading it correctly I should file 1040 NR + 8833 + FBAR + 8891 + 3250 . Is RESP taxable for the IRS.
Any advise and guidance is greatly appreciated.
If we backfile 2008 and then file 2009 and later 2010 what are our chances .
We certainly want to comply with all the laws of the US even though we do not intend to live there.
Any advise and guidance is greatly appreciated.
If we backfile 2008 and then file 2009 and later 2010 what are our chances .
We certainly want to comply with all the laws of the US even though we do not intend to live there.
I will be filing 1040NR and 8833 as I will be giving up my GC soon.
I am still confused as to if I need to file FBAR or not. The general consensus is 50 /50. The latest announcements from the IRS in March 2010
( announcement 2010-16 and Notice 2010-23) seems to point in the direction that Non resident do not need to file. I hold a Greencard but am filing my taxes as a non resident + treaty exemption as I have never lived in the states. Please clarify if I need to file FBAR or not. I want to be in full compliance and yet do not want to file FBAR if not needed.
Thanks Nelsona for all your responses.
I am still confused as to if I need to file FBAR or not. The general consensus is 50 /50. The latest announcements from the IRS in March 2010
( announcement 2010-16 and Notice 2010-23) seems to point in the direction that Non resident do not need to file. I hold a Greencard but am filing my taxes as a non resident + treaty exemption as I have never lived in the states. Please clarify if I need to file FBAR or not. I want to be in full compliance and yet do not want to file FBAR if not needed.
Thanks Nelsona for all your responses.