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Definition of 'Form 8891'
An IRS form that must be completed by any U.S. citizen or resident who participates in or receives annuities from a registered Canadian retirement savings plan or income fund (RRSP and RRIF). Form 8891 is used to report any contributions made, earnings accrued but not distributed and distributions received from these plans, but mainly it is used to elect to defer U.S. tax on your RRSP or RRIF.
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Investopedia explains 'Form 8891'
Form 8891 can be used to defer U.S. income tax on accrued income earned by an RRSP or an RRIF that has not distributed. Separate Form 8891 forms are required for every RRSP or RRIF account you have, and the form takes approximately 116 minutes to complete according to the instructions.
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