US tax implications for KiwiSaver

[FloridaKiwi]

See comment below.

[FloridaKiwi]

I consulted a US/NZ tax specialist to make sure I was compliant, and I've never filed (or even heard of ) that form.
These are the forms I filed last year:
FBAR (I declared kiwisaver here)
1040 and schedule B
8938
2555EZ
request for filing date extension (automatic 2 month extension but you have to ask for it)

hope that helps, yes it's a pain but now that I've been doing it a few years it's pretty straightforward.

Hi Oregonkiwi - Hope all is well. I'm having a crack at doing my taxes this year myself (trying to get caught up actually). Just curious are you still just using these forms:

-FBAR
-1040 and schedule B
-8938
-2555EZ

Have you received any further guidance or insight on any other documents that need to be used for non-Kiwisaver investments?

Thanks heaps.

[Oregonkiwi]

Just curious are you still just using these forms:

I haven't quite got around to doing this year's returns (income tax & FBAR) yet (that June 15 deadline is starting to motivate me ) but yes I'll use those forms again. I don't have any other/new information.

Lots of useful IRS FAQs here https://www.irs.gov/individuals/inte...al-tax-matters

(There's another thread here about self employment tax so make sure you find out about that if it applies to you. I've only ever dealt with salary & wages.)

[FloridaKiwi]

I haven't quite got around to doing this year's returns (income tax & FBAR) yet (that June 15 deadline is starting to motivate me ) but yes I'll use those forms again. I don't have any other/new information.

No worries, thanks for that info. Re the 15 June deadline, I've applied for the 15 October extension to ease some pressure on myself.

There is still a small chance that I might engage a tax specialist (Greenback Tax) to help me prepare this years' return. I reckon after that, I'll be able to do it myself without any problem. If I do engage the specialist, I'll comment here and provide an update on forms, experience, etc. Hopefully that can help in some way.

Cheers

[Bozeman]

Our tax preparer (NZ US Tax) most definitely believes our KiwiSaver accounts qualify as foreign trusts and we have thus been filing the 3520.