IRS Form 8891 is obsolete - hope this new form helps

[Udella&Wiz 325]

I am starting a new thread since this form comes up alot. I have agonized over this old form for reporting RRSPs and that type of thing.

Form 8891 is now obsolete and has been replaced by Form 8938 - this thread is quite extensive and I ended up reading the form instructions as well as the form itself.

Are you taking withdrawals or disbursements from your RRSP (in which case you're reporting it as income on your US taxes) - you can find a lot of info on how to report it in the Serbinski tax forums too

If you're like me (long way from retirement) and have a Locked-In fund which is sitting back in Canada where the interest or gains/losses roll back into itself and NOT taking disbursements.

You may or may not need to declare it based on the $$$ value and whether you're single, married, filing jointly or separately. There are bottom thresholds which govern when you have to start reporting it...read their instructions. My little Canadian fund isn't very big so I may not have to report it for many years unless I start taking disbursements or choose to withdraw the funds entirely.

http://forums.serbin...2c9bee849b1bc37

http://www.irs.gov/instructions/i8938/ch01.html

[rowanheather 23]

Thanks for sharing this! My husband just entered the U.S. as a permanent resident and has an RRSP back in Canada that he plans to leave there. We'll have to take all of this into consideration for our 2015 tax reporting. Very helpful information

[Ms Hogan 295]

I'm sometimes glad that I managed to save nothing... so I don't have to deal with any of that now! I just have to be extra savey now. Yes, 'savey' is a word. I just made it up!