I am a Canadian residing in the USA for a number of years. (with Green card). I'm trying to figure out how to report my Canadian RRSP's correctly on the 2016 IRS 8938 form. I did NOT have any RRSP distributions in 2016.
According to the IRS Form 8938 Instructions as published in January 2015, under "What's New", it mentions that RRSP's or RRIF's should be reported/detailed in Section VI "Other Foreign Asset", as opposed to Section V (for details of Deposit and custodial accounts.
However, when trying to fill out Part VI, I'm OK with line 1 to 6, line 7 should be skipped (as per revised IRS Form 8938 Instructions, dated Jan 5, 2015), but I get to Line 8, and I'm confused...is the holder of my RRSP's (NBCN) the "Issuer" or "Counterparty"? How about the rest of the form? (lines 8b, 8c, ) I'm confused...
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
1 post • Page 1 of 1