Home |IRS Tax Return | As a Canadian citizen living and working in the US, I recently changed my address with the IRS and CRA. I have savings accounts in both countries and some missing tax documents from past years. What should I do next to make sure I'm in good standing with both tax authorities, and where can I find simple guidance to help me through this process?

As a Canadian citizen living and working in the US, I recently changed my address with the IRS and CRA. I have savings accounts in both countries and some missing tax documents from past years. What should I do next to make sure I'm in good standing with both tax authorities, and where can I find simple guidance to help me through this process?

Robert James, 20+ years of experience in IRS matters
Answered on September 16,2023

The easy solution is to hire a CPA or Enrolled Agent to help you with your US taxes. They might even be able to help with your Canadian taxes although I know zip about that.

If you are a US Resident and have at least USD $10,000 in accounts in a foreign financial institution, you have a FBAR filing requirement and possibly a FATCA reporting requirement.

Report of Foreign Bank and Financial Accounts (FBAR)

Summary of FATCA Reporting for U.S. Taxpayers

The penalties for not meeting FBAR requirements can be pretty steep, but you probably qualify for the Streamlined filing compliance procedure.

Streamlined Filing Compliance Procedures

You can try to do this yourself, or you can find a CPA or Enrolled Agent or tax attorney who specializes in this area. It's going to be expensive.

As far as getting documents, see if you can download your Wage and Income transcripts online for the past few years.

IRS Transcript

If you can't access these online, or need the full transcripts, you can call IRS and request Unmasked Wage and Income transcripts for tax preparation. Make sure they will mail them to your current address.

A tax professional can also help you get the transcripts if necessary. If you happen to need a full copy of a W-2 then you can pay the Social Security Administration for that:

How can I get a copy of my wage and tax statements (Form W-2)?

Wage and Income transcripts usually have enough information to file a complete US federal tax return unless you are self-employed. They won't have health insurance coverage which might be required by the state you live in.

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