For Americans and US-born Canadians with Canadian accounts
My Canadian Bank Asked If I Am a US Person. What Now?
Answer truthfully. Canadian banks must ask because of an agreement between Canada and the US, and a US citizen must say so even if they live in Canada and have never filed US returns. If you are a US citizen who is behind on US filing, the letter is a good prompt to catch up, and the IRS Streamlined procedures exist for people who did not know. Gurleen Kaur, CPA licensed in British Columbia and Washington State, prepares the US returns and FBARs.
Quick answer
Why is my Canadian bank asking if I am a US person?
Under the intergovernmental agreement between Canada and the US, Canadian financial institutions must identify accounts held by US residents and US citizens, report them to the CRA, and the CRA passes the information to the IRS (CRA). Part XVIII of the Income Tax Act puts this into law, and institutions report each US reportable account before May 2 every year (s.266). If your records show a US place of birth or a US address, your bank must either treat the account as reportable or ask you for documents.
At a glance
- Short answer
- Answer truthfully; a US citizen in Canada must say so
- Who receives it
- Your bank reports to the CRA, which passes it to the IRS
- Not reported
- RRSP, RRIF, TFSA, RESP, RDSP and some other registered plans
- If you never filed
- Streamlined catch-up, if the failure was non-willful
- Source
- CRA, checked November 7, 2026
What the bank is asking for
- A self-certification: a form or statement saying whether you are a US citizen or a non-resident of Canada, sometimes with documents such as a driver's licence (CRA).
- Your US taxpayer number: if you are a US citizen, you must give your foreign taxpayer number when asked, which for a US citizen is generally the Social Security Number. The CRA says failing to provide it means a penalty. If you do not have one, you have 90 days to apply and 15 days after you receive it to give it to the bank.
- Why now: a change in your records, such as a US address or a US place of birth, can trigger the question for an existing account.
What gets reported, and what does not
Source: CRA.
| Item | What the CRA says |
|---|---|
| Reported | Your name, address, US taxpayer number and in some cases date of birth, the account number, the balance or value, and certain amounts paid to the account |
| Not reportable | RRSPs, RRIFs, TFSAs, RESPs, RDSPs, registered and pooled registered pension plans, and deferred profit-sharing plans |
| If you do not answer | The bank reports the account to the CRA anyway, and the CRA sends it to the US if you refused to attest your status |
| Your US obligations | Unchanged: a US citizen files US returns and FBARs wherever they live, and the bank's reporting does not replace them, including for accounts the bank does not report |
What to do if you are a US citizen
- Answer the bank truthfully. Do not deny US citizenship to avoid the question.
- Check whether you are up to date with US filing: US returns and FBARs for your Canadian accounts. See FBAR filing requirements.
- If you never filed and did not know you had to, look at the IRS Streamlined procedures: 3 years of returns and 6 years of FBARs, for failures that were non-willful (IRS). See our Streamlined filing service.
- If you own a Canadian company, it usually needs Form 5471 as well. See US citizens owning a Canadian company.
If you are not, or are no longer, a US citizen
Being born in the US usually makes someone a US citizen, which is why banks ask. If you believe you are not a US citizen, or that you gave up US citizenship, that is a separate question that needs its own review before you answer. The CRA says banks do not report people who have relinquished US citizenship and are not US residents, and may ask for documents showing this (CRA). See renouncing US citizenship and tax.
Green card holders are treated as US residents by the US, but the CRA explains that a green card holder who is a Canadian resident under the treaty tie-breaker rules, and not a US citizen, can tell the bank they are a resident of Canada.
Can the CRA collect US tax from me?
The CRA says the Canada-US treaty allows it to help the US collect certain taxes, but it will not help the IRS collect a US tax liability if you were a Canadian citizen when the liability arose, even if you were also a US citizen. It also will not help collect non-tax penalties, such as FBAR penalties (CRA). That does not remove the obligation to file.
Common questions
Do I have to tell my Canadian bank I am a US citizen?
Yes. The CRA says that even if you are a resident of Canada for tax purposes, a US citizen must tell the financial institution they are also a US citizen.
Will my RRSP or TFSA be reported to the IRS by my bank?
No. RRSPs, RRIFs, TFSAs, RESPs and RDSPs are not reportable accounts under the agreement. They can still need to be reported by you on US forms such as the FBAR.
What happens if I ignore the letter?
The CRA says the bank reports the account to the CRA, and the CRA sends the information to the US if you refused to attest your status.
I was born in the US but left as a child. Am I a US person?
Possibly. Being born in the US usually makes someone a US citizen. That needs its own review before you answer the bank.
I never filed US returns. Is it too late?
Not necessarily. The IRS Streamlined procedures let people whose failure was non-willful catch up with 3 years of returns and 6 years of FBARs.
Sources
Every rule and figure on this page links to the IRS, CRA or other official source it comes from. Amounts change; we re-check them before each engagement.
- CRA: Information for individuals holding accounts with Canadian financial institutions
- Justice Laws: Income Tax Act s.266 (reporting of US reportable accounts)
- IRS: Streamlined filing compliance procedures
Gurleen Kaur, CPA licensed in British Columbia and Washington State. Last updated November 7, 2026. This page is general information, not tax or legal advice for your situation.
Related guides: Streamlined filing service, FBAR filing requirements, US citizen with a Canadian company, Yearly US tax for Americans in Canada.
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