See this report: https://www.treasury.gov/tigta/auditreports/2016reports/201630030fr.pdf of findings of the TIGTA audit that was initiated to assess how well the IRS is managing the OVDP and its efforts to improve taxpayer compliance and hold taxpayers who fail to report their offshore financial activities on their tax returns and Reports of Foreign Bank and Financial Accounts (FBAR) accountable.
Canadian NRA parent entirely funds an interest bearing account at TD Bank of Canada. Parent is primary account holder and adult child USC (and for our example, US resident) is secondary account holder
I tested out IRS's new Form 1042-S Data Integrity Tool at https://1042sdi.for.irs.gov/Account/LogIn?ReturnUrl=%2F This software program provides a no-cost standalone tool to assist in complying with
Canadians inherit pensions of deceased US resident relatives such as Teachers Insurance and Annuity Association of America (TIAA). IRS requires an ITIN letter saying the NRA already has (versus 'openi