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
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I'm a Cdn resident and US citizen. I have a TFSA in a bank, and I've filed 3520/3520A on it for years. I have US stocks in it, though, and when I buy/sell these I take a hit from my bank's exchange rate. I can move my US stocks into a separate TFSA account (basically, the same account number but with a different suffix), though, which would lessen the exchange rate hit. If I do that, would I need to file an additional 3520/3520A? I'm not sure if it's worth the hassle if I do, so I thought I'd ask people here who are smarter than I am ... thanks in advance!
Not a professional opinion.