I have registered retirement accounts in Canada that are increasing in value but I am not making any withdrawls until I retire.How do I say these are tax exempt in turbo?

[KarenJ · Accepted solution]

Please see the attached link for reporting RRSP and RRIFs .  They only have to be reported when there a distribution and always on Form 8938 Statement of Specified Foreign Financial Assets.  Please see attached link for 8938.

https://www.irs.gov/pub/irs-pdf/i8938.pdf

Please see attached link for more information regarding the change in the reporting rules for RRSP and RRIFs

Changes to RRSP and RRIF

You will need to file finCEN  114 (FBAR).  You need to file this online outside of TurboTax.  Please see attached link

FBAR Filing

For comparing 8938 to finCEN 114 please see this link https://www.irs.gov/businesses/comparison-of-form-8938-and-fbar-requirements

[kiteless]

How does one handle reporting of dividends and interest in these accounts? Turbotax requires cross-referencing these accounts to v lines in other forms or schedules, which for RRSPs, do not exist.