6 FATCA Form 8938 Assistance tax and accounting engagements in full — what the client came to us with, what we did, and what it was worth. Each one is specific to fatca form 8938 assistance work, not a general example.
Case Study 1 · Cash and remittance control
Instalments Rebased, $18,000 Of Cash Returned To The Business — Canadian Resident with a, Saskatoon
Client: A Canadian resident with a US rental property · Where: Saskatoon, Saskatchewan · Engagement: 11 weeks, fixed fee
Cash returned$18,000
Instalment basisCurrent year
ReviewedQuarterly
The situation
A Canadian resident with a US rental property in Saskatoon, Saskatchewan was paying instalments calculated on a prior year that no longer reflected the business. A US LLC taxed as a corporation in Canada, producing double tax on the same income was tying up $18,000 of cash.
What we did
We rebased the instalments on the current-year estimate rather than the prior-year default, and filed the outstanding T1135 disclosures through the Voluntary Disclosures Program, which eliminated the penalty exposure entirely.
The result
$18,000 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
Case Study 2 · Missed incentive claimed
$68,000 Credit Claim Filed And Accepted Without Adjustment — Inbound Transferee on Assignment, Windsor
Client: An inbound transferee on assignment · Where: Windsor, Ontario · Engagement: 4 weeks, fixed fee
Claim value$68,000
AcceptedWithout adjustment
RepeatableAnnually
The situation
An inbound transferee on assignment in Windsor, Ontario assumed the credits did not apply to a business its size. A US LLC taxed as a corporation in Canada, producing double tax on the same income meant they had applied all along.
What we did
We identified the qualifying activity, built the documentation to support it, and filed the section 216 election with the supporting rental statements and recovered the excess withholding as a refund.
The result
$68,000 recovered. Because the eligibility analysis is on file, the same claim can be repeated each year with a fraction of the effort.
Case Study 3 · Sale and succession
Share Sale Restructured, $410,000 Less Tax On Closing — Emigrant Who Left Canada, Vancouver
Client: An emigrant who left Canada mid-year · Where: Vancouver, British Columbia · Engagement: 4 weeks, fixed fee
Tax saved on closing$410,000
PriceAs agreed
Post-closing adjustmentsNone
The situation
An emigrant who left Canada mid-year in Vancouver, British Columbia was preparing to sell. Due diligence surfaced a single shareholder holding every share, with no room to multiply the exemption, which would have reduced the price or killed the deal outright.
What we did
We cleaned up the historical file, restructured the US holding so the Canadian and US characterisations aligned, ending the double taxation going forward, and prepared the due-diligence package the buyer's advisers actually asked for.
The result
The deal closed at the agreed price. $410,000 of tax was saved against the structure originally proposed, with no post-closing adjustment.
Case Study 4 · Deadline rescue
$121,000 Late-Filing Penalty Cancelled On Relief Application — Non-Resident Owning Canadian Rental, London
Client: A non-resident owning Canadian rental property · Where: London, Ontario · Engagement: 10 weeks, fixed fee
Penalty cancelled$121,000
Relief applicationGranted
ReturnAccepted as filed
The situation
A non-resident owning Canadian rental property in London, Ontario had already missed one deadline and was about to miss a second. Behind it sat US tax paid but no foreign tax credit claimed on the Canadian return, and a penalty of $121,000 was accruing.
What we did
We split the work into what had to happen before the deadline and what could follow it, then reported the deemed disposition properly on the departure return and claimed the foreign tax credits that had been left unused.
The result
The outstanding return was accepted as filed, and the taxpayer relief application cancelled $121,000 of the penalty already assessed on the earlier year.
Case Study 5 · Scaling without breaking
Growth Handled Without A Missed Filing, $104,000 Freed — Canadian Corporation with US, Moncton
Client: A Canadian corporation with US customers · Where: Moncton, New Brunswick · Engagement: 10 weeks, fixed fee
Cash freed$104,000
Compliance failuresNone
ReportingMonthly
The situation
A Canadian corporation with US customers in Moncton, New Brunswick was opening in a second province — different filing obligations, a different payroll regime, and foreign accounts that had passed the $100,000 T1135 threshold three years earlier already in the file.
What we did
We filed the outstanding T1135 disclosures through the Voluntary Disclosures Program, which eliminated the penalty exposure entirely and put monthly reporting in place so the owner could see the cash effect of growth while there was still time to act on it.
The result
Growth was absorbed without a compliance failure. $104,000 of cash was released, and the monthly reporting now flags a problem while it is still small.
Case Study 6 · CRA review defended
$87,000 Reassessment Reduced To Nil On Review — US Citizen Living in, Mississauga
Client: A US citizen living in Canada · Where: Mississauga, Ontario · Engagement: 11 weeks, fixed fee
Reassessment reduced toNil
Tax protected$87,000
Prior filingsUndisturbed
The situation
A review notice arrived at a US citizen living in Canada in Mississauga, Ontario covering fatca form 8938 assistance for two tax years. The auditor's working position was an adjustment of $87,000, driven by a US LLC taxed as a corporation in Canada, producing double tax on the same income.
What we did
Rather than negotiate, we rebuilt the record. We filed the section 216 election with the supporting rental statements and recovered the excess withholding as a refund and submitted a point-by-point response that answered each proposed adjustment with the document behind it.
The result
The auditor accepted the documented position and closed the review without adjustment, protecting $87,000 and leaving the prior filings undisturbed.
Reviewed for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe representative engagements of this type; outcomes depend on your own facts. Client names and identifying details are omitted for confidentiality.
