Need Help in Filing 8891 and FBAR for last 3 years

Canadian Expats and travelers in the USA can communicate with each other here!

Moderator: visaplace.com

beerUNew Member
Topic author
Posts: 1
Topics: 1
Joined: 17 Jan 2012

Need Help in Filing 8891 and FBAR for last 3 years

Post Tue Jan 17, 2012 6:38 pm

I have moved to USA from Canada in 2006 and for the first two years I did my taxes through a Canadian CPA who have filed 8891 and FBAR for tax years 2006 and 2007. But for the last three years: 2008, 2009, & 2010 - I have used HR block to file my taxes and they didn't file 8891/FBAR to disclose my accounts which I just realised in going through my previous years tax documents. I would like to fix this mess asap and would like to know how to file the 8891 and FBAR for the last three years, what are the consequences for late filing? what forms should I be filing? what is the process? Thanks in advance for your help.

We have a RRSP accounts, a ESOP account and a checking account in Canada.

Thanks
B
Top
vengeanceisNew Member
Posts: 3
Joined: 11 Apr 2012

Re: Need Help in Filing 8891 and FBAR for last 3 years

Post Wed Apr 11, 2012 5:47 pm

hey beerU,

have you got any answers? what did you decide to do with the 8891s?

I kinda have similar problem, except for I've been e-filing with TurboTax, and going through copies of past year returns I don't see 8891 attached/submitted with 1040 (in fact i don't think TurboTax really knows how to deal with 8891 properly..)

let me know.
cheers
Top
agnelsonCanuckAbroad VIP
Posts: 3263
Topics: 1
Joined: 26 Aug 2009

Re: Need Help in Filing 8891 and FBAR for last 3 years

Post Thu Apr 12, 2012 3:48 am

forums.serbinski.com... and turbo tax handles 78891 perfectly, if you enter the information correctly.
Top
vengeanceisNew Member
Posts: 3
Joined: 11 Apr 2012

Re: Need Help in Filing 8891 and FBAR for last 3 years

Post Thu Apr 12, 2012 5:13 pm

agnelson wrote:... and turbo tax handles 78891 perfectly, if you enter the information correctly.

can you elaborate on your bold statement? what exactly you have to enter in TurboTax
i followed their wizard attentively. TDF 90-22.1 was printed but 8891 constantly popped with error demanding to enter country name (?!), and in the end no 8891 was ever added to 1040.
also none of their boasted FAQ or "expert advice" has any meaningful help on the subj.
Top
agnelsonCanuckAbroad VIP
Posts: 3263
Topics: 1
Joined: 26 Aug 2009

Re: Need Help in Filing 8891 and FBAR for last 3 years

Post Thu Apr 12, 2012 6:29 pm

So, you filled out the 8891 (which I have done for several years) and the form did not come out? Or you did not fill out the form? It has nothing to do with FBAR form

Ttax help sucks, but that is not my area of expertise.

You can always mail-in 8891 later.
Top
vengeanceisNew Member
Posts: 3
Joined: 11 Apr 2012

Re: Need Help in Filing 8891 and FBAR for last 3 years

Post Thu Apr 12, 2012 6:38 pm

i don't remember exactly what i did, I e-filed two weeks ago. I answered "yes, i have rrsp" in the wizard and it looked like it's adding 8891 (it was bugging me about this along the way), but now when i look at the final copy of the return there are like 46 pages and i don't see 8891 in there... may be it's their "paper saving initiative" as i entered 0's everywhere..
Top
agnelsonCanuckAbroad VIP
Posts: 3263
Topics: 1
Joined: 26 Aug 2009

Re: Need Help in Filing 8891 and FBAR for last 3 years

Post Fri Apr 13, 2012 3:56 am

Well, you need to have reported year-end value, and any distribution. Given that you didn;t file 8891 in past years, I'm thinking you aren;t very familiar with even a paper version of 8891.
Top

Did you enjoy this post? Share it!

 
  • Related topics
    Replies
    Views
    Last post
cron