Solved: Are canadian GIC considered foreign financial account

Are canadian GIC considered foreign financial account

Is a Canadian GIC considered a foregin financial asset?

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Yes, those Guaranteed Investment Certificates are considered foreign financial assets.

You would only need to file an FBAR form however the value of those securities is the equivalent of $10,000 USD or more.

Yes, those Guaranteed Investment Certificates are considered foreign financial assets.

You would only need to file an FBAR form however the value of those securities is the equivalent of $10,000 USD or more.

Are canadian GIC considered foreign financial account