US Resident Filing Return in Canada re: liquidated RRSP
Thanks for being here, Everyone. I'm really hoping someone can answer this question.
I have lived in the States for over two decades now and thought I no longer had any financial connection to Canada. Turns out I had a long-forgotten RRSP worth about $15K that my father (living in Canada) had been administering. I've now cashed it out and paid the appropriate withholding/penalty because I didn't want to get into the whole notification of foreign accounts/cross border issue but I'm now wondering what I have to file in Canada in the way of taxes this week. I would really like to avoid having it affect my US tax return if at all possible. I'm confident that I don't owe any taxes on it so at least I don't have to worry about that. In the future, the only probable contact I'll have with Taxation Canada is when I receive an inheritance.
Thanks for any help!
I have lived in the States for over two decades now and thought I no longer had any financial connection to Canada. Turns out I had a long-forgotten RRSP worth about $15K that my father (living in Canada) had been administering. I've now cashed it out and paid the appropriate withholding/penalty because I didn't want to get into the whole notification of foreign accounts/cross border issue but I'm now wondering what I have to file in Canada in the way of taxes this week. I would really like to avoid having it affect my US tax return if at all possible. I'm confident that I don't owe any taxes on it so at least I don't have to worry about that. In the future, the only probable contact I'll have with Taxation Canada is when I receive an inheritance.
Thanks for any help!