FBAR forms due June 30, 2012
Generally, any "United States person" (U.S. person) who has a financial interest in or signature or other authority over any foreign financial account (including Canadian Registered Retirement Savings Plans (RRSP), Registered Education Savings Plans (RESP) and Tax-Free Savings Accounts (TFSA)) must file the FBAR form if the aggregate value of the financial accounts exceeds US$10,000 at any time during the calendar year. This report is due by June 30, 2012 for accounts maintained in the 2011 calendar year.
The FBAR form must be received by the IRS no later than June 30, 2012. The FBAR can also be filed electronically in certain circumstances.
Treaty-based returns due June 15, 2012
Foreign corporations (i.e., Canadian corporations that rely on the Canada-U.S. treaty) with a December 31 year-end must file Form 1120 F, "U.S. Income Tax Return of a Foreign Corporation" and Form 8833, "Treaty-based Return Position Disclosure Under Section 6114 or 7701(b)", by June 15, 2012.
For more information, contact your KPMG adviser.