Are Canadian RRSP & TFSA accounts reportable?

For U.S. tax purposes, both RRSPs and TFSAs are considered bank accounts over which you have signatory authority. Therefore you must report them on FBAR and Form 8938 if applicable.

A TFSA (Tax-Free Savings Account) does not need to be reported as a PFIC because it is exactly what it says it is: a "Tax-free SAVINGS account",  not an investment vehicle.

An RRSP (Registered Retirement Savings Plan) may have to be reported as a PFIC on Form 8621 if the account contains foreign mutual funds.

For more details - see Canadian Income Reporting

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