Can a 1040 taxpayer get same tax deferral treatment (i.e., IRS same as CRA) for a Defined Contribution’ Pension Plans (DCPP) for employees as one would for RRSP via the treaty?
If yes, is that with different US reporting requirements for DCPP than RRSP?
http://www.bdo.ca/en/Library/Services/T ... Canada.pdf
For example, at above link BDO says it's applicable to RPP & DPSP but with different US reporting requirements.
Defined Contribution’ Pension Plans (DCPP) for employees
Moderator: Mark T Serbinski CA CPA
In my opinion, there is no difference between a DPSP and a DCPP in terms of the treaty. Both enjoy the same benefits of Article XVIII(7) and XXI(2). neither require any treaty election to that effect.
BDO is no doubt referring to the supposed need to file a Rev Proc 2002-23 statement for a DPSP/DCPP, as opposed to "nothing" ( or, formerly 8891) for a RRIF/RRSP. The sentence you refer to has been in BDO's annual newsletter for many years.
If you recall there was much shifting in the requirements (you can see these outlined in the background info in Rev Proc 2014-55) ie. Form 3520, etc until it culminated with Form 8891.
At that point some concluded that since ONLY RRSP/RRIF were covered by 8891, other retirement accounts were still under the requirement of a statement per 2002-23. Even the IRS has confusingly said that DPSPs were to be reported on 8891 in certain PLRs (which, as IRS like to remind are not binding on others), when this was clearly not the case.
I was never of this opinion -- I have consistently taken the position that with the advent of 8891 the reporting/statement portion of 2002-23 was no longer applicable to other retirement plans either. This is also borne out by the discussion in 2014-55, which now addresses ALL Cdn retirement plans.
So, assuming one is still an "eligible individual" under 2014-55 (it is inconceivable that one could make themselves ineligible for DPSP and DCPP -- unlike RRSPs) these accounts carry no tax or reporting require,ments unless and until one receives income from them.
BDO is no doubt referring to the supposed need to file a Rev Proc 2002-23 statement for a DPSP/DCPP, as opposed to "nothing" ( or, formerly 8891) for a RRIF/RRSP. The sentence you refer to has been in BDO's annual newsletter for many years.
If you recall there was much shifting in the requirements (you can see these outlined in the background info in Rev Proc 2014-55) ie. Form 3520, etc until it culminated with Form 8891.
At that point some concluded that since ONLY RRSP/RRIF were covered by 8891, other retirement accounts were still under the requirement of a statement per 2002-23. Even the IRS has confusingly said that DPSPs were to be reported on 8891 in certain PLRs (which, as IRS like to remind are not binding on others), when this was clearly not the case.
I was never of this opinion -- I have consistently taken the position that with the advent of 8891 the reporting/statement portion of 2002-23 was no longer applicable to other retirement plans either. This is also borne out by the discussion in 2014-55, which now addresses ALL Cdn retirement plans.
So, assuming one is still an "eligible individual" under 2014-55 (it is inconceivable that one could make themselves ineligible for DPSP and DCPP -- unlike RRSPs) these accounts carry no tax or reporting require,ments unless and until one receives income from them.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing 
To confirm what Nelsona said please read what Deloitte wrote on this in regards to DPSP on page 3 in particular.
https://www2.deloitte.com/content/dam/D ... 141024.pdf
https://www2.deloitte.com/content/dam/D ... 141024.pdf