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Level 5
May 14, 2020
Question

Do tax payer (filing 1040) need file 114 form for Canada Retirement account RRSP?

Hi,

Can any one tell if Fincen114 need for the client who has a few RRSP (retirement accounts from Canada)?

 

If yes, how about  the RRSP (retirement acct owned by spouse) as a beneficiary , but spouse is not filing any tax return in US. Spouse filing tax return in Canada for 2019.

 

Thanks!

 

 

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1 reply

Level 5
May 18, 2020

Take a look at this link to see if it provides you with some guidance in this area.

https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements