Serbinski Accounting Firms

Circling back here to say thanks again to exPenn for the super-informative original post. I confess I didn't follow all the details at the time, but they are correct. The projecting of the reduction back to the year one turns 62 really bites, particularly in these inflationary times. I recommend ...

Dual citizen now collecting US Social Security while residing in Canada. Spouse is also collecting US SS, but less than me. So our situation is the same as yours except that we're dual citizens, but I don't think that makes any difference for SS.

1. None of your SS is taxable in the US. It is taxed ...

Right, I completely agree. Excellent clarification that people with under 14 years of eligibility are better off adding years of eligibility rather than months at 0.6%.

I also agree about deferring. I see articles in the media all the time about how deferring CPP all the way to age 70 is the best ...

I belatedly realized the above could be more clear.

You're entitled to the greater of the following:
- an extra 1/40 of the full OAS amount, per year of deferral (making up for years outside Canada)
- an extra 0.6% of your reduced entitlement, per month of deferral.

So in my case, since I was ...

So the way it works is if you are entitled to reduced OAS because of years out of the country, and you defer past age 65 to start collecting, then you are entitled to the greater of the following
- an extra 1/40 per year of deferral
- an extra 0.6% per month of deferral

So after any reasonable ...

A few posts above, nelsona commented:

If you wait past 65, your OAS is increased for every month you wait. Howev er, if you are not collecting the maximum (because you have not spent years in canada, by waiting you add a full 40th to your OAS, A sort of double-whammy.
I don't normally recommend ...

Might be worth noting, though, that the IRS has deemed foreign PayPal accounts to be reportable on FBAR.

Clever about the check pictures, ND. I don't have people sending me personal checks from the US, but it seems like an excellent tip for those who do.

Just to reiterate nelsona's extra comment about not needing to have a US bank (if you get US SS direct-deposited to a Canadian account). After ...

I've e-filed from Canada using both TurboTax and TaxAct. I'm surprised to learn there's US tax software that doesn't allow this.

The IRS website seems to me quite clear that goldstone's daughter is a US person. Wondering why goldstone thinks SPT is the only criterion.

https://www.irs.gov/individuals/international-taxpayers/classification-of-taxpayers-for-us-tax-purposes

and then if you follow the link on "resident" in the ...

Final happy resolution. What worked was to fill out form SSA-1199-CN and submit it by fax. Payment at good exchange rate in my BMO account today.

https://www.ssa.gov/forms/ssa-1199-cn.pdf
https://www.ssa.gov/foreign/ (for fax number)

Update: Apparently the SSA officer in Baltimore entered my Canadian banking information incorrectly. I'm still in the process of trying to get this resolved. Meanwhile, SSA sent me a paper check.

Thanks, nelsona. Seeing as I'm starting to collect SS benefits, next tax season I will add in the 8833.

Thanks, Phil, I looked at some of your videos and think they're excellent. You explain clearly some topics that I struggled with in the past, e.g. not paying SE tax as a Canadian resident and re-sourcing of a US private pension. I was pretty happy that I have avoided all your "common mistakes in ...

I ended up applying for my US Social Security, and for it to be direct-deposited to my BMO account.My first payment was paid Oct 3 (according to my "My SSA" account. No sign of the deposit in my BMO account yet (today being Oct 7). exPenn or others, is this typical? How much delay is normal?