How do I file my late US tax returns as a Canadian resident?

Posted on 31. Jan, 2011 by Phil Hogan, CA in Cross Border Tax Q&A

Question

I’ve lived in Canada for over 22 years and I haven’t filed a US tax return since I moved here (Ontario). Is the IRS going to want 22 years of tax returns filed? I don’t think I could even find any information more than 10 years back.

I’ll take any help you can offer, thanks.

Answer

Hi XXXX

No, you won’t have to file 22 years of tax returns with the IRS. You should however catch up on your returns by filing the last 6 years of US tax returns under the IRS’s amnesty provisions.

In most cases (as long as all your income is Canadian source) you won’t pay any additional US tax. You will simply have to file the last 6 years of tax returns.

Also note that if you had signing authority on any accounts in aggregate $10,000 for any of the last 6 years you’ll have to file forms TDF 90-22.1.

Also, if you held any RRSPs or RRIFs during these years you’ll also have to file forms 8891 and form 3520 for any TSFA accounts.

Hope that helps and give me a call if you need me to prepare the late US tax returns and all related schedules.

Regards

Phil

Phil Hogan, CA
250-661-9417

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If you would like to reach me to discuss a tax or accounting matter please call 250-661-9417 or email me at phil@philhogan.com.

The accounting and tax information provided on this website is for informational purposes only and does not represent binding professional advice. Appropriate tax treatment and advice will depend on an individuals particular circumstances and set of facts.

Tags: 3520, 3520A, 8891, amnesty, FBAR, late tax returns, tdf 90-22.1