3520-a became US resident in the middle of the year

nakubo.1974 · Post by **nakubo.1974** » Wed Mar 05, 2014 4:08 pm

We moved to the US in the middle of 2013 and own an RESP.

When I fill out the Foreign Trust Income Statement Part II of 3520-a, do I have to also include income and gains received before I became a US resident?

How do I reconcile this with what is reported on Schedule B of my tax return? Do I do that by only reporting the income earned during US residency on Page 3 Foreign Grantor Trust Owner Statement?

Since my wife and I are joint owners, do I also prepare two copies of page 3 Foreign Grantor Trust Owner Statement with half the numbers listed on each statement?

nelsona · Post by **nelsona** » Wed Mar 05, 2014 4:28 pm

Depends.
Are you filing a full year 1040, or are you doing a dual status return?

nakubo.1974 · Post by **nakubo.1974** » Wed Mar 05, 2014 4:34 pm

Sorry, I didn't want to repeat the full details in every post but in this case I should have.

I am filing dual status (as explained in http://forums.serbinski.com/viewtopic.php?t=8223).

nelsona · Post by **nelsona** » Wed Mar 05, 2014 4:46 pm

I would be reporting only for the time you are considered a US person.

There should be page 3's for each of you.

These are sent apart from 1040.