Received W-9 for Foreign Bank Account after Money Deposited

[Piefre 15]

I've been living as a legal permanent resident for almost three years now in the US. In 2015 over the summer, I received some money as a gift from my parents into my still open Canadian bank account. It's a 'gift', but was actually deposited to put the balance in the account over the minimum required amount (approx $1500). Without that additional money, the bank was withdrawing a monthly fee and slowly depleting the remaining funds in there. I keep the bank account because I still have an active credit card with the same Canadian bank and it's a convenient way for me to pay for things while I'm visiting. By the way, it is a checking account, is not used for investments nor does it earn interest.

Just now I've received a W-9 from my Canadian bank insisting that I fill out a W-9 for the account because the Canadian account received funds. I'm not really sure if filling this out is going to mean I pay taxes on the $1000 my parents deposited or if I have to pay taxes for the entirety of the account balance or if I need to do something else to ensure that I account for every penny for the IRS or the CRA. I am assuming the reason I got documentation to fill out is because someone is looking to tax something from me. I'm just not sure what they'd want this for and would really appreciate anyone whose been in a similar situation chiming in to clear this up.

Edited December 14, 2015 by Piefre

[Mag&Chef 17]

I've been living as a legal permanent resident for almost three years now in the US. In 2015 over the summer, I received some money as a gift from my parents into my still open Canadian bank account. It's a 'gift', but was actually deposited to put the balance in the account over the minimum required amount (approx $1500). Without that additional money, the bank was withdrawing a monthly fee and slowly depleting the remaining funds in there. I keep the bank account because I still have an active credit card with the same Canadian bank and it's a convenient way for me to pay for things while I'm visiting. By the way, it is a checking account, is not used for investments nor does it earn interest.

Just now I've received a W-9 from my Canadian bank insisting that I fill out a W-9 for the account because the Canadian account received funds. I'm not really sure if filling this out is going to mean I pay taxes on the $1000 my parents deposited or if I have to pay taxes for the entirety of the account balance or if I need to do something else to ensure that I account for every penny for the IRS or the CRA. I am assuming the reason I got documentation to fill out is because someone is looking to tax something from me. I'm just not sure what they'd want this for and would really appreciate anyone whose been in a similar situation chiming in to clear this up.

Hi piefre!

I got the same documentation.

I arrived ti US on october 5 and received last pay check and some other money between october and december, I received the same documentation, I don't know what to do., if i'm a us person or not, because I'm in AOS status.

any help will be very appreciated.

thanks