Canadian pension living in the US

Capital guy · Post by **Capital guy** » Sun Apr 21, 2013 9:05 am

I am contemplating moving to the US after I retire from a Canadian company. My pension department has told me that my pension cheques can be deposited in a US account but taxes at a rate of 25% will be withheld. If I file a US return it should be at a lower marginal rate I would imagine. Is there any reconciliation of the rates resulting in a refund or would I just "break even" with the IRS?

nelsona · Post by **nelsona** » Mon Apr 22, 2013 7:36 am

The withholding for US residdnts s only 15% NOT 25%.

The IRS will credit you with upto that amount.

Are you allowed to move to US? What status will you have?

Capital guy · Post by **Capital guy** » Mon Apr 22, 2013 9:06 am

My wife is an American citizen. Haven't looked into the specifics yet but I'm assuming I should be able to get a green card alright.

nelsona · Post by **nelsona** » Mon Apr 22, 2013 10:56 am

Yup. bwe careful on getting your visa before moving.

Capital guy · Post by **Capital guy** » Mon Apr 22, 2013 10:58 am

Do you mean i should or shouldnt get the visa before moving?

nelsona · Post by **nelsona** » Mon Apr 22, 2013 12:17 pm

You should, if you are planning to leave canada. If you are planning to go back-and-forth before making up your mind (and are keeping a Cdn residence while doing so), then adjusting after the final departure is best.

But that is best left for immigration forums, not tax.

Just be aware that many in your boat find themselves stuck in Canada for almost a year when thet wish to move to US with their US spouse. So, some forethought and planning is in order.

Capital guy · Post by **Capital guy** » Tue Apr 23, 2013 6:46 pm

Thanks much. I will heed your advice.