Are TFSAs Trusts Under US Tax Law?

This week’s question is a follow-up from last week’s blog post but comes from Loretta from Quebec, Canada. The question is: So, are TFSAs considered trusts for US tax purposes? If so, what are the implications of that? Is it a trust? Again, here is the regulation...

Are RESPs Trusts Under US Tax Law?

This week’s question comes from Amy from Canada. “I have heard that Canadian RESPs (Registered Education Savings Plans) may be considered trusts for US tax purposes. Is that true? If so, what are the implications of that?” Is RESP a Trust? Here is the...