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newliweds

How to file US tax for green card holders

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Hello guys, I moved down to California last year and before the end of the year I found a job and have been working there since.

Recently I just received my W-2s (Canadian equivalent of T4), question is, which US tax form should I file, and will these forms sent to my residency address by the US government (in Canada we receive the forms in the mail) ?

also, I have some savings in Canada, a little over 10k, half of which is the RRSP (retirement fund), do I need to declare that and pay tax for it ?

Any suggestions, advices will be appreciated.

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Hello guys, I moved down to California last year and before the end of the year I found a job and have been working there since.

Recently I just received my W-2s (Canadian equivalent of T4), question is, which US tax form should I file, and will these forms sent to my residency address by the US government (in Canada we receive the forms in the mail) ?

also, I have some savings in Canada, a little over 10k, half of which is the RRSP (retirement fund), do I need to declare that and pay tax for it ?

Any suggestions, advices will be appreciated.

You will have to fill out a Form 90221 (FBAR) for all foreign investments and accounts. You can put all of them on this form, including your RRSP. This gets sent into the US Treasury. Remember though, they do not want the yearly total for the account. They will want the highest amount that account was worth out of the quarterly statements.

As for your taxes, you can't do the 1040ez form with having a foreign investment, so most likely (unless you have special instances) you would probably use form 1040. There you would fill it out as normal. I don't think you would need to file for a form 8891 because you are not a US citizen at this point and only a GC holder. You may want to double check. If so, it's like the FBAR where you would use a separate 8891 for all your foreign investment accounts.

Hope that helps, I'm going through back tracking for the past 5 years because I did not do this previously and filed the 1040ez forms every year. So I'm learning quite bit about it. However, in my previous thread it was posted that http://forums.serbinski.com/index.php is (and actually is) a great forum to ask for information and read about others...


I'm just a wanderer in the desert winds...

Timeline

1997

Oct - Job offer in US

Nov - Received my TN-1 to be authorized to work in the US

Nov - Moved to US

1998-2001

Recieved 2nd, 3rd, 4th, 5th TN

2002

May - Met future wife at arts fest

Nov - Recieved 6th TN

2003

Nov - Recieved 7th TN

Jul - Our Wedding

Aug - Filed for AOS

Sep - Recieved EAD

Sep - Recieved Advanced Parole

2004

Jan - Interview, accepted for Green Card

Feb - Green Card Arrived in mail

2005

Oct - I-751 sent off

2006

Jan - 10 year Green Card accepted

Mar - 10 year Green Card arrived

Oct - Filed N-400 for Naturalization

Nov - Biometrics done

Nov - Just recieved Naturalization Interview date for Jan.

2007

Jan - Naturalization Interview Completed

Feb - Oath Letter recieved

Feb - Oath Ceremony

Feb 21 - Finally a US CITIZEN (yay)

THE END

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Head over to the Canadian forum we always have a tax thread and you can search back in the old ones.

One of the best sites to go to where you can ask questions for free to an expert on US/Cdn tax scenarios is here (also noted by Warlord above :0 ) : http://forums.serbinski.com/


Wiz(USC) and Udella(Cdn & USC!)

Naturalization

02/22/11 - Filed

02/28/11 - NOA

03/28/11 - FP

06/17/11 - status change - scheduled for interview

06/20?/11 - received physical interview letter

07/13/11 - Interview in Fairfax,VA - easiest 10 minutes of my life

07/19/11 - Oath ceremony in Fairfax, VA

******************

Removal of Conditions

12/1/09 - received at VSC

12/2/09 - NOA's for self and daughter

01/12/10 - Biometrics completed

03/15/10 - 10 Green Card Received - self and daughter

******************

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Just make sure you search first, Agnelson can get pretty rude at times,lol


Canadians Visiting the USA while undergoing the visa process, my free advice:

1) Always tell the TRUTH. never lie to the POE officer

2) Be confident in ur replies

3) keep ur response short and to the point, don't tell ur life story!!

4) look the POE officer in the eye when speaking to them. They are looking for people lieing and have been trained to find them!

5) Pack light! No job resumes with you

6) Bring ties to Canada (letter from employer when ur expected back at work, lease, etc etc)

7) Always be polite, being rude isn't going to get ya anywhere, and could make things worse!!

8) Have a plan in case u do get denied (be polite) It wont harm ur visa application if ur denied,that is if ur polite and didn't lie! Refer to #1

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You will have to fill out a Form 90221 (FBAR) for all foreign investments and accounts. You can put all of them on this form, including your RRSP. This gets sent into the US Treasury. Remember though, they do not want the yearly total for the account. They will want the highest amount that account was worth out of the quarterly statements.

As for your taxes, you can't do the 1040ez form with having a foreign investment, so most likely (unless you have special instances) you would probably use form 1040. There you would fill it out as normal. I don't think you would need to file for a form 8891 because you are not a US citizen at this point and only a GC holder. You may want to double check. If so, it's like the FBAR where you would use a separate 8891 for all your foreign investment accounts.

Hope that helps, I'm going through back tracking for the past 5 years because I did not do this previously and filed the 1040ez forms every year. So I'm learning quite bit about it. However, in my previous thread it was posted that http://forums.serbinski.com/index.php is (and actually is) a great forum to ask for information and read about others...

Form 8891 is required for all US Persons. Citizens and Permanent Residents are both considered US Persons.


Knowledge itself is power - Sir Francis Bacon

I have gone fishing... you can find me by going here http://**removed due to TOS**

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