KarenJ
Intuit Alumni

Deductions & credits

No, there is no reporting necessary to the IRS for an RRSP rollover.  In 2014 the IRS dropped Form 8891 that Canadians needed to file to get a tax deferral on their earnings.

Under this change, many Americans and Canadians with registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) now automatically qualify for tax deferral similar to that available to participants in U.S. individual retirement accounts (IRAs) and 401(k) plans. In general, U.S. citizens and resident aliens qualify for this special treatment as long as they filed and continue to file U.S. returns for any year they held an interest in an RRSP or RRIF and include any distributions as income on their U.S. returns.

Please note that you may have a foreign bank account or foreign asset account reporting on the fbar or Form 8938.

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