Ask Experts Questions for FREE Help !
Ask
    guluoguawen's Avatar
    guluoguawen Posts: 21, Reputation: 1
    New Member
    		  
    #1

    Mar 4, 2012, 08:25 AM
    Do I have to include my RRSP in Form 8938 or TD F 90-22.1
    Dear Sir/Madam,

    I have reported my Canadian RRSP (registered retirement savings plan) in the form 8891 every year. Do I have to include my RRSP in the form 8938 or TD F90-22.1.

    Many thanks in advance!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 9, 2012, 01:48 PM
    In my opinion, yes, if the assets are high enough.
    guluoguawen's Avatar
    guluoguawen Posts: 21, Reputation: 1
    New Member
    		  
    #3

    Mar 9, 2012, 05:23 PM
    Dear AtlantaTaxExpert,

    Thank you very much for your answer, which is very helpful.
    joehiken's Avatar
    joehiken Posts: 1, Reputation: 1
    New Member
    		  
    #4

    Oct 13, 2013, 11:15 AM
    According to IRS site

    http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-(FBAR)

    Under

    Who Must File an FBAR, Exceptions to the Reporting Requirement, item 7

    7.Participants in and beneficiaries of tax-qualified retirement plans;

    It seems that for a RRSP need not file the FBAR, can someone clarify this?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #5

    Oct 13, 2013, 01:23 PM
    I have called and ASKED the IRS and was told that you MUST include the RRSP on the FBAR, because the RRSP, being a FOREIGN pension plan, is NOT considered to be a tax-qualified plan.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

I'm a resident of US. The question is to check if I qualify to fill the 8938 form? [ 1 Answers ]

I'm a resident of US. THe question is to check if I quality to fill the 8938 form? I'm married and filing jointly. I have bank account, mutual funds and receive rental from property (House) abroad. The total value of Bank Interest, Mutual fund dividends and rental is about $15K. This amount...

Do I need to file Form 8938? [ 7 Answers ]

Dear Sir/Madam, I have questions regarding the 8938 and would appreciate very much if you could answer my questions. 1. I am a canadian and moved in USA 3 few years ago. But my family continued to live in Canada last month; 2. We bought a house in Canada about 10 years ago and we lived...

Specified foreign financial assets (SFFA) Form 8938 [ 1 Answers ]

All U.S. citizens and residents who have foreign accounts and foreign assets must be aware of another filing requirement Form 8938 besides Form Form TD F 90-22.1 Report of Foreign Bank and Financial Accounts and many other forms. The form is currently in draft stage and non filing penalities are as...

Where on divorce form do you include 401 amount settled on [ 1 Answers ]

I will be receiving $45000. From my ex's 401 once the divorce is settled. I receive soc sec disability and can not afford 20 percent taxes on $45000. Can he be required to pay the 20 percent

Do I include form 1098 T in my 1040nr-ez [ 1 Answers ]

I am a full time international graduate student who entered the USA on August 25, 2008. I did not file a tax return in 2009 simply because I felt my income of $1,712 was too small. I am trying to file my tax return for 2010 and I am having problem incorporating the form 1098-T in the form...

View more questions Search