I am Canadian and working in US with a TN visa.
I have a RESP, RRSP and TFSA. All three accounts are in TD Direct Investing https://webbroker.td.com/ and managed by myself(I have some individual stocks and ETFs in each of above accounts).
I conducted some research online. Form 8938 is certainly needed to fill for each of RESP, RRSP, TFSA. But are Form 3520(Report Transactions With
Foreign Trusts and Receipt of Certain Foreign Gifts) and Form 3520A needed also? Also should all above accounts be treated as deposit account in TurboTax(TurboTax has depository or custodial accounts to choose under foreign financial accounts)? What is the difference between foreign financial accounts and foreign financial asset?
The links I found out useful
https://www.expattaxonline.com/do-i-need-to-file-irs-forms-3520-and-3520-a-for-my-tfsa-and-resp/
https://ttlc.intuit.com/community/taxes/discussion/where-to-enter-canadian-tfsa-rrsp-rpp-investment-...
Any reply is appreciated.
