Serbinski Accounting Firms

rodw · Post by **rodw** » Thu Apr 11, 2013 8:43 pm

I have a NR4 from the one time trsf of LIRA funds to a LIF, no cash was recieved yet i rec'd a NR4 from my plan custodian, indicating box 16 income
how do i report to avoid any tax issues.

nelsona · Post by **nelsona** » Fri Apr 12, 2013 6:21 am

thie was merely informational. No report needed in either country. Of course, you need to have an 8891 form for the LIRA, and perhaps for the LIF.
Wjat type of account is the LIF, An annuity perhaps?

rodw · Post by **rodw** » Fri Apr 12, 2013 6:58 am

My LIRA was in various mutual funds including MM, i have made no changes and the LIF which started to fund disbursements in 2013 draws from the MM fund portion, why the annuity question?

nelsona · Post by **nelsona** » Fri Apr 12, 2013 8:44 am

I was currious as to what form your LIF was in. Form what you say, Since it is basically a locked-in RIF, it also needs an 8891.

Were it an annuity (ie. a fixed-rate payout), it would not need 8891.