Schedule B

[ralphowens]

I’m hoping someone can answer this question for me. I’m not sure if I need to amend my tax return.

History – I’m a US Permanent Resident and have Canadian RRSP. Originally my RRSP value around $16,000 I have always filed 8891 and TD F 90-22.1. In 2006 I cashed in $14,000 and reported everything on 8891 and filed TD F 90-22.1. I’m still continuing to file 8891 for t he remaining RRSP but not TD F 90-22, because all of my Canadian accounts which I only have the RRSP don’t add up to $10,000 at any time during the tax year.

For 2007 and my recently filed 2008 I have been still checking line 7a on Schedule B as yes. Assuming I needed to because I still had a foreign account which is the remaining small amount of RRSP and I’m still continuing to file 8891 reporting it.

But after reading closer the instruction’s on the IRS site one of the exceptions to line 7a on Schedule B is anything under $10,000 Line 7a on Schedule B should have been checking NO if the total Value of all account is below $10,000 which mine has been.

Should I amend my returns to change this check mark from a yes to a no?.

Thanks

[nelsona]

No. You are fine.

One question. When you took that 2006 withdrawal, how did you determine the amount that was taxable in US? There are a couple of ways to do this.