I never files a us return -

My_question_is: Applicable to both US and Canada
Subject:        I never files a us return
Expert:         taxman@centa.com
Date:           Thursday January 24, 2008
Time:           01:47 AM -0000

QUESTION:

I am a us citizen who has lived in canada for 30 years I just became aware that I was to file us tax returns. I also understand that I needed to register my rrsps. What can I do, and what is it likely to cost me.

Thanks

 
------------------------------------------------
david ingram replies:

I am so busy it is crazy.

This older question may help
------------------------------------------

QUESTION:

David, I am in a predicament. I have lived in Canada for three decades. I am 
a dual US/Canadian citizen. I have faithfully filed forms 1040 and 2555EZ 
every year. I have never had earned income beyond the exemption amount. No 
US income, other than the odd short-term stock investment (with very little 
gain). I have RRSPs (no withdrawals other than home-buyers plan, which was 
repaid). However, I now realize I have made a few mistakes. I have never 
filed RRSP information, nor I have I filed dividend, capital gains, or 
interest information. I am not wealthy, and I am reasonably sure I would 
have $0 tax liability for any of those amounts earned. Should I go back and 
re-file all those forms (1116, 8891, the murky situation before 8891, 
8833[?], every other ridiculous form out there), and how far back? 3 years? 
7 years? Or is there another way? I must admit that I'm considering 
renunciation, though I wonder if that could cause more problems -- such as 
an audit or penalties. (I have also never filed TDF 90-22.1, though I plan 
to do so right away.)

----------------------------------------------------------------
david ingram replies:

File the 8891 forms for 2005 with a 1040X and then file the current ones 
with your 2006 return.

Note that the TDF forms do NOT go with the tax return.   They go to Detroit, 
Michigan.

The 8891 accepts that you may not have been doing the forms and asks if you 
want to start now.

=====================================
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