For a large number of American dual citizens living in Canada, there is a lack of information about what the IRS considers a TFSA to be. Ironically it is Canada's version of a Roth IRA but due to a lack of clarity dual citizens living in Canada cannot benefit from either program as neither government is sure how to treat the parallel program. Please encourage the IRS to issue some formal guidance on this issue and keep in mind how that commentary may affect a persons decision to keep or renounce their US citizenship.
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