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I applied to QPP and will be receiving my pension starting next month. I understand it is taxable in the states but as resident in the USA do I have to pay taxes on QPP in Quebec/Ca and thus request 15% withholding tax.
Kader

Thanks Nelsona for your support!
I wish you all the best and happy new year!

Kader

I am retired in the USA collecting my SSA and will apply soon to QPP (I let it build for few years). My understanding is that since the WEP will be eliminated I can collect my QPP and I don't have to notify SSA about it for WEP deduction. Pease confirm that is the case.
Thanks in advance.

Kader

Thanks Nelson!
Appreciate you help on this matter.

Nelson, I converted my RRSP to RRIF in Dec of last year 2021 and my bank is saying I can withdraw 4.17% (based on my age) at 15% withholding tax. The lady at the bank doesn't seem to know as US resident I can withdraw up to 10%. I need the 10% withdrawal at the 15% withholding tax and was wondering ...

Thanks again for your help! For my understanding let's assume I convert it to RRIF this year and get my 10% on January 2nd of 2022 which will ensure the 15% withheld. What is the rule for the remaining 90% amount if I want to withdraw it with 15% tax withheld. Do I have to wait until the following y...

Thanks Nelsona!
Follow up question : To ensure only the 15% withholding tax I have to withdraw 10% of the RRIF amount this year (assuming I will convert it this month) and the remaining in monthly payment next year?
Thanks in advance.

I am US resident retired and I have RRSP in Canada. Some of it is invested in CD with very small annual return and so I would like to convert it to RRIF and withdraw only 10% to minimize withholding tax. Are we allowed to convert only a portion of the RRSP to RRIF and so I will have an RRSP and RRIF...

Thanks nelsona!
Appreciate your valuable feedback.

Kader

I am in a similar situation , dual citizen with RRSP account. I have 17K invested in GIC / RRSP with 1% interest ! and would like to move it to a mutual fund that has a descent return. I would appreciate if you can provide few banks/ brokerage that hold a US based brokerage license to allow me to bu...

I read the RESP Rev Proc 2020-17 posted above by Nelson and I just want to make sure I understood it. Does it mean that no longer we have to file the form 8938 for the tax year 2020 ?

Thanks Nelsona.

I can understand the QPP/CPP but why is the private pension from the company is deduced from the benefits.
Looks to me like double taxation!

I applied to SSA benefits and because I worked for 10 years in Quebec I am receiving a pension from my company which I understand will be deducted from my SSA benefits (Windfall provision). I have accumulated 19 years of work at the US and hence eligible to collect SSA benefits. My question is does ...