Tax Free Savings Accounts (TFSA) and Registered Education Savings Plans (RESP) may be considered foreign trusts by the IRS.

US citizens or residents who hold TFSA's and RESP's are required to report the income from these accounts on their tax returns annually and may be required to file Form 3520 with their Form 1040 and Form 3520-A annually. There are severe penalties if these forms are not filed. We can assist you in preparing these forms and will make sure you meet the current trust reporting requirements of the IRS.

  • Form 3520 and Form 3520-A Preparation Services - starts at $200