I am canadian citizen, live 100% of in Canada. Purchased US funds through TFSA and RRSP. Received a Schedule K3 from USA. If fill out a W-8BEN is that all I need to do?

[mollysmail031]

Basically what I am asking is if buy US funds through canadian TFSA and RRSPs accounts, if I make a gain do I need to pay the USA taxes or if I fill out this W-8BEN form can I ignore the USA Schedule K3 documentation?

[TurboTaxSusan]

TFSAs are not recognized as tax-exempt accounts by the IRS. The taxation of RRSPs is more complicated, and you should discuss the matter with someone knowledgeable about cross-border taxation. 

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