Canadian Corporation Doing business in the US - 1120F

QUESTION:
I currently am employed as a computer consultant via a contract by a
corporation in Buffalo NY .
 This has been set up as a corp to corp agreement with no withholdings . I
am legally entitled to work in the US holding a dual US / Canadian
Citizenship.
I maintain my residence in Ontario Canada and commute daily for the purposes
of this contract.
Prior to this contract I was doing remote consulting for another business
based in Buffalo. The services were being rendered in Canada so therefore at
that time my understanding is that the IRS did not count me as doing
commerce in the US. However since the start of this contract I am well past
the $3000 threshold of doing commerce in the US.
My question is I should be filing a Ct3 for NYS and an 1120 for IRS along
with my corporate tax filings for Canada.
Is there other filing requirements that I am missing ? and does the first
batch of work count against US filing requirements since the "service" was
performed in Canada ?
==================================
david ingram replies:
Your company is clearly operating in New York State and should be filing a
US 1120F corporate return and a New York CT-3
http://www.tax.state.ny.us/pdf/2004/fillin/corp/ct3_2004_fill_in.pdf
Personally, You should be filing your US 1040 (whether you are a working in
the US or Canada) and a New York Non-resident IT-203
http://www.tax.state.ny.us/pdf/2004/fillin/inc/it203_2004_fill_in.pdf .  The
1040 reports your gross income and the IT-203 will just report the income
you earned in New York.
In addition, you will need to file Forms T DF-90.22 to report every Canadian
personal and corporate financial account you have and form 5471 to report
your ownership of a Canadian (foreign) corporation.  Failure to file the T
DF-90 can have a penalty of up to $500,000 PLUS 5 years in jail and the
penalty for form 5471 (owning a foreign corporation and not reporting it) is
usually $10,000 to $50,000.
 You can read about the 5471 in another email I answered and am repeating
here
David:
I've followed your postings for some years now.  I'm one of the U.S.
citizens living in Canada as a Permanent Resident since 1972.  I've not
filed any U.S. tax returns during this time; I've not early any income in
the U.S. but still have the obligation to file.  I'm sufficiently concerned
about the penalties that I am now motivated to file.
I have all my Canadian tax records back to 1972 but I believe your articles
say the previous 5 years are the most important.  During that time I've been
periodically self employed as a business developer, made some money, lost
some
money,  have incurred substantial stock market losses, and have inherited
about $340,000 U.S. from my recently deceased mother who was a U.S. citizen.
In addition, I have about $350,000  RRSPs which I have not touched.  I'm
currently 60 yrs. old.
1.    What is this likely to cost to file?  (I recognize this is like asking
how
long is a piece of string) but you might have a ball park figure.
2.    What paper work do you need?
3.    Do you work w/ anyone in Toronto?
4.    Is it feasible to do this long distance?
5.    How much time is involved?
(Note:  I expect to be leaving Canada for 6-8
mo. for Costa Rica beginning approx. Oct. 10)  I will be contactable via
e-mail.)
======================================
david ingram replies:
At the moment, the unofficial rule is to go back 6 years which would mean
98, 99, 2000, 2001, 2002 and 2003.
1.    The cost runs from $150.00 per year for an employee with less than
$80,000 US per year of earned income and no other investments to $300 to
$400 with stock sales and / or RRSP holdings (at least you),  $500 to 600 a
year for a self-employed individual to $1,500 to $2,000 a year if you own
more than 50% of a Canadian Corporation or if you and another American own
more than 50% of a Canadian corporation.
If you own 50% or less of a Canadian Corporation, there is a $1,400 or so
charge for bringing that corporation into the fold "one time" and then you
drop back to the $500 to $600 per year.  That involves Form 5471 and the
failure to file it is $10,000 for the first 90 days and $10,000 every thirty
days after to a maximum of $50,000.
The Instructions for form 5471 can be read here
http://www.irs.gov/pub/irs-pdf/i5471.pdf
The actual form is at:
http://www.irs.gov/pub/irs-pdf/f5471.pdf
Some of the extra schedules are at:
Schedule J
http://www.irs.gov/pub/irs-pdf/f5471sj.pdf
Schedule M
http://www.irs.gov/pub/irs-pdf/f5471sm.pdf
Schedule N
http://www.irs.gov/pub/irs-pdf/f5471sn.pdf
Schedule O
http://www.irs.gov/pub/irs-pdf/f5471so.pdf
2.    We can usually succeed with the paperwork with copies of your personal
returns for the years involved and the corporate returns if there is a
corporation involved.
3.    Not at the moment. I had an office in Toronto from 1977 to 1990 but
closed it when my partner got married and moved away and left the business.
4.    Very feasible.  In the last week, we have dealt with individuals in
Dubai, Kuwait, and a dozen states.  Specializing is the wrong word but we do
look after a large number of people out of the country because of the
internet.  Your leaving for Costa Rica makes it more sensible to deal with
us (who are used to people out of the country) then to start the proves with
someone who does not have that large out of town experience.
5.       Likely a week to ten days if you get it to us now. July and August
tend to be slower than the fall when both the IRS and the CRA start sending
out Post Offices' full of demands to file to errant taxpayers.
A further note.  Because you are going to Costa Rica a recognized tax haven,
you are far more likely to be "caught" by the IRS than if you were just in
Canada and crossed the US border a couple of times a week for gas and
groceries.
And, do not forget the TD F-90.22 form.  Read the fine print at the bottom.
Your RRSP is a foreign trust.  Failure to report significant foreign
accounts when "all" your accounts add up to more than $10,000 US can have US
fines of up to $500,000 PLUS five years in jail.
Read the fine print at the bottom of form TD-F.90-22  -
http://www.irs.gov/pub/irs-fill/f9022-1.pdf
We had a 105 year old lady with a $10,000 fine for not filling in form TD
F-90.22
A 68 year old lady had a $60,000 fine.
Any RRSP accounts you set up have special reporting rules (you may be
subject to them already).
The rules are easier now as we wait for a new form but you still need to
report RRSP accounts to the USA IRS in a particular manner.   You can find
the two newest bulletins on the reporting rules three paragraphs down.
We, of course, make our living doing these in and out of Canada returns and
eight out of our ten  accountants and associates specialize in preparing the
US / Canadian returns together .  We would all be glad to help out next year
by email, snail mail, fax or courier.
Hope this helps.
David Ingram
Notice 2003-75
RRSP and RRIF Information Reporting
2003 IRB LEXIS 474; 2003-50 I.R.B. 1204; Notice 2003-75
December 15, 2003
 [*1]
SECTION 1. BACKGROUND.
Notice 2003-25, 2003-18 I.R.B. 855, and Notice 2003-57, 2003-34 I.R.B. 397,
provided guidance to taxpayers regarding their 2002 taxable year information
reporting obligations with respect to Canadian registered retirement savings
plans ("RRSPs") and registered retirement income funds ("RRIFs"). These
Notices stated that Treasury and the IRS intended to develop an alternative,
simplified reporting regime for these Canadian retirement plans for future
taxable years.
This notice describes the new simplified reporting regime that Treasury and
the IRS have developed for taxpayers who hold interests in RRSPs and RRIFs.
The new reporting regime, which is effective for taxable years beginning
after December 31, 2002, is in lieu of the filing obligations under section
6048 (Form 3520 (Annual Return to Report Transactions with Foreign Trusts
and Receipt of Certain Foreign Gifts) and Form 3520-A (Annual Information
Return of Foreign Trust with a U.S. Owner)) that otherwise apply to U.S.
citizens and resident aliens who hold interests in RRSPs and RRIFs and to
the custodians of such plans. The new  [*2]  simplified reporting regime is
designed to permit taxpayers to meet their reporting obligations by using
information that is readily available to them.
SECTION 2. NEW REPORTING REGIME.
.01. New Form. Under the authority of section 6001 of the Internal Revenue
Code, Treasury and the IRS are designing a new form that a U.S. citizen or
resident alien who holds an interest in an RRSP or RRIF must complete and
attach to his or her Form 1040. The new form also will coordinate the
reporting rules with the procedure set forth in section 4 of Revenue
Procedure 2002-23, 2002-1 C.B. 744, for making the election under Article
XVIII(7) of the U.S.-Canada income tax convention to defer U.S. income
taxation of income accrued in the RRSP or RRIF.
.02. Interim Reporting Rules for Beneficiaries Making the Election to Defer
U.S. Income Taxation on Income of an RRSP or RRIF. Until the form referred
to in section 2.01 of this notice is available, any U.S. citizen or resident
alien who is a beneficiary (as defined in section 2.06 of this notice) of an
RRSP or RRIF and who has made the election described in section 4 of Revenue
Procedure 2002-23 [*3]  with respect to the RRSP or RRIF, or who is making
such election effective for the 2003 taxable year and subsequent taxable
years, must
(i) attach a copy of each such election to his or her Form 1040;
(ii) indicate the balance in each RRSP or RRIF at the end of the taxable
year either on the copy of the election or by attaching a copy of a
statement issued by the custodian of the RRSP or RRIF; and
(iii) comply with section 2.05 of this notice if he or she has received any
distributions during the taxable year from such RRSP or RRIF.
.03. Interim Reporting Rules for Beneficiaries Not Making the Election to
Defer U.S. Income Taxation on Income of an RRSP or RRIF. Until the form
referred to in section 2.01 of this notice is available, any U.S. citizen or
resident alien who is a beneficiary (as defined in section 2.06 of this
notice) of an RRSP or RRIF and who has not made the election described in
section 4 of Revenue Procedure 2002-23 with respect to the RRSP or RRIF, and
who is not making such election for the 2003 taxable year, must attach a
statement to his or her Form 1040 that includes the following information:
(i) The caption [*4]  "CANADIAN RRSP" or "CANADIAN RRIF," whichever is
applicable;
(ii) The taxpayer's name and taxpayer identification number;
(iii) The taxpayer's address;
(iv) The name and address of the custodian of the RRSP or RRIF and the plan
account number, if any;
(v) The amount of contributions to the RRSP or RRIF during the taxable year;
(vi) The undistributed earnings of the RRSP or RRIF during the taxable year
in each of the following categories: interest, dividends, capital gains, and
other;
(vii) The total amount of distributions received from the RRSP or RRIF
during the taxable year; and
(viii) The balance in the RRSP or RRIF at the end of the taxable year.
The taxpayer must provide a separate statement for each RRSP or RRIF of
which he or she is a beneficiary. In addition to attaching the statement
described in this section 2.03 to his or her Form 1040, the taxpayer must
report the undistributed earnings for that taxable year of all such RRSPs
and RRIFs on Schedule B (Interest and Ordinary Dividends) or D (Capital
Gains and Losses), as appropriate, and on line 8a, 9, 13, or 21 of the Form
1040. The taxpayer must also comply with section 2.05 of this notice if the
taxpayer has received [*5]  any distributions during the taxable year from
such RRSP or RRIF.
.04. Interim Reporting Rules for Annuitants of RRSPs and RRIFs. Until the
form referred to in section 2.01 of this notice is available, if a U.S.
citizen or resident alien is an annuitant (as defined in section 2.06 of
this notice) under an RRSP or RRIF that has no beneficiary (as defined in
section 2.06 of this notice), and the annuitant receives a distribution from
the RRSP or RRIF, the annuitant must in the year of distribution attach a
statement to his or her Form 1040 that includes the following information:
(i) The caption "ANNUITANT UNDER CANADIAN RRSP' or "ANNUITANT UNDER CANADIAN
RRIF," whichever is applicable;
(ii) The annuitant's name and taxpayer identification number;
(iii) The annuitant's address;
(iv) The name and address of the custodian of the RRSP or RRIF and the plan
account number, if any;
(v) The total amount of distributions received from the RRSP or RRIF during
the taxable year; and
(vi) The balance in the RRSP or RRIF at the end of the taxable year.
The annuitant must provide a separate statement for each such RRSP or RRIF
from which he or she has received a distribution during the taxable [*6]
year. The annuitant must comply with section 2.05 of this notice with
respect to such distributions.
.05. Distributions. A U.S. citizen or resident alien who has received any
distributions during the taxable year from an RRSP or RRIF must report the
total amount of distributions received during the taxable year from all such
RRSPs and RRIFs on line 16a of the Form 1040 and the taxable amount of all
such distributions (as determined under section 72) on line 16b of the Form
1040.
.06. Definition of Beneficiary and Annuitant. For purposes of the new
simplified reporting regime described in this notice, a beneficiary of an
RRSP or RRIF is an individual who is subject to current U.S. income taxation
on income accrued in the RRSP or RRIF or would be subject to such taxation
had the individual not made the election under Article XVIII(7) of the
U.S.-Canada income tax convention to defer U.S. income taxation of income
accrued in the RRSP or RRIF. For these purposes, an annuitant of an RRSP or
RRIF is an individual who is designated pursuant to the RRSP or RRIF as an
annuitant.
.07. Record Retention. Taxpayers must retain supporting documentation
relating to information required [*7]  by the new reporting regime,
including Canadian Forms T4RSP, T4RIF, or NR4, and periodic or annual
statements issued by the custodian of the RRSP or RRIF.
SECTION 3. SECTIONS 6048 AND 6677 ARE NOT APPLICABLE
The new simplified reporting regime, instituted under the authority of
section 6001, provides the information needed for tax compliance purposes.
Therefore, pursuant to section 6048(d)(4), no reporting will be required
under section 6048 with respect to RRSPs and RRIFs that have beneficiaries
or annuitants who are subject to the new simplified reporting regime.
Accordingly, the associated penalties described in section 6677 do not apply
to such RRSPs and RRIFs and their beneficiaries or annuitants. A beneficiary
or annuitant of an RRSP or RRIF may, however, be subject to other penalties.
SECTION 4. EFFECT ON OTHER DOCUMENTS.
Notice 2003-25, Notice 2003-57, and section II.E of Notice 97-34 (pertaining
to reporting for certain transfers to RRSPs), 1997-1 C.B. 422, are
superseded to the extent inconsistent with this notice.
SECTION 5. EFFECTIVE DATE.
This notice is effective for taxable years beginning after December 31,
2002.
SECTION 6. PAPERWORK REDUCTION [*8]  ACT.
The collection of information contained in this notice has been reviewed and
approved by the Office of Management and Budget in accordance with the
Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1865.
An agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless the collection of information
displays a valid OMB control number.
The collection of information in this notice is in section 2. This
information will be used to compute and collect the right amount of tax. The
likely respondents are individuals.
The estimated total annual reporting burden under the new simplified
reporting regime for taxpayers who hold interests in RRSPs and RRIFs is
1,500,000 hours. The estimated annual burden per respondent varies from 0.5
hour to 5 hours, depending on individual circumstances, with an estimated
average of 2 hours. The estimated number of respondents is 750,000.
The estimated annual frequency of responses is once per respondent per plan.
The new simplified reporting regime substantially reduces the reporting
burden of taxpayers who hold interests in RRSPs and RRIFs. Under [*9]  the
prior regime, the average estimated reporting burden was more than 50 hours
per Form 3520 (more than 100 hours per respondent). In addition, the new
simplified reporting regime eliminates the requirement to file Form 3520-A,
reducing the burden of a custodian by more than 40 hours per RRSP or RRIF.
Books or records relating to a collection of information must be retained as
long as their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information are
confidential, as required by 26 U.S.C. 6103.
SECTION 7. DRAFTING INFORMATION.
The principal author of this notice is Willard W. Yates of the Office of
Associate Chief Counsel (International). For further information regarding
this notice contact Willard W. Yates on (202) 622-3880 (not a toll-free
call).
Send To:  YATES, WILLARD
          IRS CHIEF COUNSEL
          1111 CONSTITUTION AVE NW RM 2116IR
          WASHINGTON, DISTRICT OF COLUMBIA 20224-0002
==========================
REV-PROC 2002-23
rev proc 2002-23
Send to:  YATES, WILLARD
          IRS CHIEF COUNSEL
          1111 CONSTITUTION AVE NW RM 2116IR
          WASHINGTON, DISTRICT OF COLUMBIA 20224-0002
LEXSEE REV PROC 2002-23
Rev. Proc. 2002-23
26 CFR 601.602: Tax forms and instructions.
(Also Part I, Section 894; Part II, United States-Canada Income Tax
Convention.)
2002-1 C.B. 744; 2002 IRB LEXIS 136; 2002-15 I.R.B. 744; REV. PROC. 2002-23
April 15, 2002
 [*1]
SECTION 1. PURPOSE
This revenue procedure provides guidance for applying Article XVIII(7) of
the United States-Canada Income Tax Convention, signed on September 26,
1980, as amended by Protocols signed on June 14, 1983, March 28, 1984, March
17, 1995, and July 29, 1997 (the "Convention"). It supersedes Revenue
Procedure 89-45, 1989-2 C.B. 596, which provided guidance for applying
former Article XXIX(5) of the Convention. Article XVIII(7), which was added
to the Convention by the Protocol that was signed on March 17, 1995,
expanded and replaced Article XXIX(5).
SEC. 2. BACKGROUND
.01 Domestic Rules. Under the domestic law of the United States, an
individual who is a citizen or resident of the United States and a
beneficiary of a Canadian retirement plan will be subject to current United
States income taxation on income accrued in the plan even though the income
is not currently distributed to the beneficiary, unless the plan is an
employees' trust within the meaning of section 402(b) of the Internal
Revenue Code and the individual is not a highly compensated employee subject
to the rule of section 402(b)(4)(A). However, if the plan satisfies [*2]
certain requirements under the domestic law of Canada, the income accrued in
the plan will not be subject to Canadian income taxation until it is
actually distributed from the plan (or from another plan to which it is
transferred in a tax-free rollover). Thus, there may be a mismatch between
the timing of the United States tax and the Canadian tax, with the result
that the individual may be subject to double taxation for which no relief is
available under Article XXIV of the Convention.
.02 Former Article XXIX(5). Former Article XXIX(5) of the Convention
addressed the timing mismatch in respect of a U.S. citizen who was a
resident of Canada and a beneficiary of a Canadian registered retirement
savings plan ("RRSP") by providing that such a U.S. citizen could elect,
under rules established by the competent authority of the United States, to
defer United States taxation with respect to any income accrued in the RRSP
but not distributed by the RRSP, until such time as a distribution was made
from such RRSP or any plan substituted therefor. The rules for making an
election under former Article XXIX(5) were set forth in Revenue Procedure
89-45. [*3]  Additional guidance was set forth in Revenue Ruling 89-95,
1989-2 C.B. 131, which provided that if the proceeds of a RRSP were rolled
over to a Canadian registered retirement income fund ("RRIF"), the RRIF
would be treated as a plan substituted for the RRSP, with the result that
both the proceeds that were rolled over from the RRSP and the income
subsequently accrued in the RRIF could qualify for deferral under former
Article XXIX(5).
.03 Article XVIII(7). Article XVIII(7) of the Convention now provides,
effective for taxable years beginning on or after January 1, 1996, that a
natural person who is a citizen or resident of either the United States or
Canada and a beneficiary of a trust, company, organization, or other
arrangement that is a resident of the other country that is generally exempt
from income taxation in the other country (a "plan"), and is operated
exclusively to provide pension, retirement, or employee benefits, may elect
to defer taxation in the person's country of citizenship or residence, under
rules established by the competent authority of that country, with respect
to any income accrued in the plan but not distributed [*4]  by the plan,
until such time as and to the extent that a distribution is made from the
plan or any plan substituted therefor.
SEC. 3. SCOPE
This revenue procedure applies to an individual who is a citizen or resident
of the United States and a beneficiary of one of the following Canadian
plans (an "eligible plan"): a RRSP, a RRIF, a registered pension plan, or a
deferred profit sharing plan. This revenue procedure applies regardless of
whether the individual was a resident of Canada at the time contributions
were made to the eligible plan. For purposes of this revenue procedure, a
"beneficiary" of an eligible plan is an individual who would, in the absence
of an election under Article XVIII(7) of the Convention, be subject to
current United States income taxation on income accrued in the plan. The
revenue procedure applies only to income accrued in an eligible plan and not
to any contributions to the plan.
SEC. 4. ELECTION PROCEDURES
.01 In General. If income accruing in an eligible plan would otherwise be
subject to current United States income taxation, a beneficiary of the
eligible plan may elect for the beneficiary's taxable year (the "current
year") and all subsequent [*5]  years to defer United States income tax on
the beneficiary's share of income accrued in the plan until that income is
distributed to the beneficiary. Beneficiaries shall make the election by
attaching to their timely filed (including extensions) United States federal
income tax return for the current year, a statement that includes the
following information:
(i) A statement that the taxpayer is claiming the benefit of Article
XVIII(7) of the Convention under this revenue procedure;
(ii) The name of the trustee of the plan and the plan account number, if
any; and
(iii) The balance in the plan at the beginning of the current year.
.02 Reporting. Beneficiaries shall attach a copy of the statement required
in paragraph 4.01 to their timely filed (including extensions) United States
federal income tax return for each year subsequent to the current year,
until the tax year in which a final distribution is made from the plan (or
from any transferee plan within the meaning of paragraph 4.03).
.03 Rollovers. If an eligible plan for which an election has been made
pursuant to paragraph 4.01 ("transferor plan") is rolled over to another
eligible plan ("transferee plan") in a transfer [*6]  that does not result
in the current imposition of Canadian income tax (e.g., a transfer such as
that described in Revenue Ruling 89-95), the previous election is deemed to
carry over to the transferee plan.
.04 Transferee Plan Reporting. In the case of a transferee plan, in addition
to a copy of the statement required for the transferor plan under paragraph
4.02, in the tax year of the transfer ("transfer year"), beneficiaries shall
attach an additional statement that includes the following information:
(i) A statement that the taxpayer is claiming the benefit of Article
XVIII(7) of the Convention under this revenue procedure;
(ii) The name of the trustee of the transferee plan and the plan account
number, if any;
(iii) The name of the trustee of the transferor plan and the plan account
number, if any;
(iv) The total amount of income accrued in the transferor plan on which
United States income tax was deferred under either Article XVIII(7) or
former Article XXIX(5); and
(v) The initial balance in the transferee plan.
Beneficiaries of a transferee plan shall attach a copy of the statement
required in paragraph 4.02 (transferor plan) and [*7]  a copy of the
statement required in this paragraph 4.04 (transferee plan) to their timely
filed (including extensions) United States federal income tax return for
each year subsequent to the transfer year, until the tax year in which a
final distribution is made from the transferee plan.
.05 Multiple Plans. An individual who is a beneficiary of more than one
eligible plan must make a separate election and file a separate statement
for each eligible plan.
.06 Extension Of Time For Making Elections. An extension of time for making
an election under paragraph 4.01 may be available under the procedures
applicable under sections 301.9100-1 and 301.9100-3 of the Procedure and
Administration Regulations.
.07 Prospective Change of Election. An election once made cannot be revoked
except with the consent of the Commissioner.
SEC. 5. DISTRIBUTIONS FROM AN ELIGIBLE PLAN
Distributions received by a beneficiary from an eligible plan shall be
included in gross income by the beneficiary in the manner provided under
section 72 of the Internal Revenue Code, subject to any other applicable
provision of the Convention.
SEC. 6. EFFECT ON OTHER DOCUMENTS
This revenue procedure supersedes  [*8]  Revenue Procedure 89-45, 1989-2
C.B. 596.
SEC. 7. EFFECTIVE DATE
This revenue procedure is effective for taxable years ending on or after
December 31, 2001. For taxable years ending before such date and beginning
on or after January 1, 1996, taxpayers may elect to apply either this
revenue procedure or Revenue Procedure 89-45.
SEC. 8. PAPERWORK REDUCTION ACT
The collection of information contained in this revenue procedure has been
reviewed and approved by the Office of Management and Budget in accordance
with the Paperwork Reduction Act (44 U.S.C. 3507) under control number
1545 -1773.
An agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless the collection of information
displays a valid OMB control number.
The collection of information in this revenue procedure is in section 4.
This information is required to enable taxpayers to claim a benefit under
the Convention. This information will be used to compute and collect the
right amount of tax. The likely respondents are individuals.
The estimated total [*9]  annual reporting burden is 10,000 hours. The
estimated annual burden per respondent varies from 0.1 hour to 1 hour,
depending on individual circumstances, with an estimated average of 0.5. The
estimated number of respondents is 20,000.
The estimated annual frequency of responses is once per respondent.
Books or records relating to a collection of information must be retained as
long as their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information are
confidential, as required by 26 U.S.C. 6103.
DRAFTING INFORMATION
The principal authors of this revenue procedure are M. Grace Fleeman and
Amanda A. Ehrlich of the Office of the Associate Chief Counsel
(International). For further information regarding this revenue procedure,
contact Amanda A. Ehrlich at (202) 622-3880 (not a toll-free call).
Send To:  YATES, WILLARD
          IRS CHIEF COUNSEL
          1111 CONSTITUTION AVE NW RM 2116IR
          WASHINGTON, DISTRICT OF COLUMBIA 20224-0002
 ============
After perusing the foregoing, you should also look at form TD F-90.22.  You
will find the reference to this on the bottom of schedule B of your US 1040.
Penalties for filing the TD F-90 forms to report your foreign accounts is up
to $500,000 US PLUS 5 years in jail.
Find and read and then fill out Form TD F-90 here.  By the way, I am always
here to look after you RRSP reporting and the TD F-90 forms.
http://www.irs.gov/pub/irs-fill/f9022-1.pdf
Answers to this and other similar  questions can be obtained free on Air
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Cartier
Partners and I will be hosting an INFOMERCIAL but LIVE talk show called "ITS
YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com
Local phone calls to (604) 280-0600 - Long distance calls to 1-866-778-0600.
Old shows are archived at the site.
This from ask an income tax immigration planning and bankruptcy expert
consultant guru or preparer  from www.centa.com or www.jurock.com or
www.featureweb.com. Canadian David Ingram deals daily with tax returns
dealing with expatriate:
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Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and
Mexican and any of the 43 states with state tax returns, etc.
income tax wizard wizzard guru advisor advisors experts  specialist
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Garland Georgia,  Honolulu Hawaii,  Idaho,  Illinois,
  Indiana  Des Moines Iowa  Kansas  Kentucky,
 Louisiana  Bangor Maine  Maryland
 Boston, Massachusetts, Michigan, Minnesota,
Mississippi,  Missouri,  Montana,  Nebraska,
Nevada, New Hampshire,  New Jersey,
New Mexico, New York, North Carolina,
North Dakota,  Ohio,  Oklahoma,  Oregon.
Paris,  Rome, Sydney, Australia Hilton
Pennsylvania,  Rhode Island,  Rockwall,
South Carolina, South Dakota, Tennessee,
Texas,  Utah, Vermont,  Virginia,
West Virginia, Wisconsin, Wyoming,
British Columbia, Alberta, Saskatchewan,
Manitoba, Ontario, Quebec City,
New Brunswick, Prince Edward Island,
Nova Scotia, Newfoundland, Yukon and
Northwest and Nunavit Territories,
Mount Vernon, Eumenclaw, Coos Bay
and Dallas Houston Rockwall Garland
Texas  Taxman and Tax Guru  and wizzard
wizard - David Ingram's US/Canada Services
US/Canada/Mexico Tax Immigration & working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver,  BC, CANADA, V7N 3L7
Calls accepted from 10 AM to 10 PM 7 days a week
Res (604) 980-3578 Cell (604) 657-8451
Bus (604) 980-0321
davidingram at shaw.ca
www.centa.com www.david-ingram.com
Disclaimer:  This question has been answered without detailed information or
consultation and is to be regarded only as general comment.   Nothing in
this message is or should be construed as advice in any particular
circumstances. No contract exists between the reader & the author and any
and all non-contractual duties are expressly denied. All readers should
obtain formal advice from a competent financial, or real estate planner or
advisor & appropriately qualified legal practitioner, tax or immigration
specialist in connection with personal or business affairs such as at
www.centa.com. If you forward this message, this disclaimer must be
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