I am planning to begin filing our 1040 as I now have the time to do this. Reviewing previous years' 1040s, and spending considerable time researching on this forum, I don't understand our 8833s.
We are both USC living in Canada, both retired and both receiving income from our Canadian defined benefit retirement plans. I began receiving my DB pension in 2012 and my husband began receiving his DB pension many years earlier. Beginning for the 2012 tax year, an 8833 has been included in our (joint return) 1040.
The 8833 says "Taxpayer is electing to defer taxation under US/Canada tax treaty article XVIII(7) and Rev Proc 2002-23 of Registered Pension Plan..." and lists the name of our DB pension plans and our ID numbers with those two plans.
Income from both plans has been put in 16b and on the 1116.
Do we need to have this 8833?
My only other thought about this 8833 is that it somehow relates to the 8938 where we list both pension plans...but I suspect that it doesn't.
I'm finding this forum invaluable. Thank you to everyone for participating.
Def Benefit Retirement Plan income and 8833
Moderator: Mark T Serbinski CA CPA
No need for 8833. while you are deferring income (the internal income) this is not a treaty matter, it is normal IRS process for pensions. No harm, but no need.
Do you have RRSPs or RRIFs? That would make more sense, and they might have added these since form 8891 went away. Still not needed however.
Do you have RRSPs or RRIFs? That would make more sense, and they might have added these since form 8891 went away. Still not needed however.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Yes, we both have an RRSP. Since we retired we have not contributed or withdrawn funds.
Beginning with our 2006 1040 an 8833 was included for Social Security pension and beginning with our 2008 1040, an 8833 was included for CPP. Then in 2011 both were discontinued and an 8833 was started for our DB pension plans.
I was hoping to see consistent filings of our 1040s - would make it easier for me to get a grip on how to do our 1040. I'm starting to better understand there are sometimes options, like whether to submit an 8833.
Thank you!
Beginning with our 2006 1040 an 8833 was included for Social Security pension and beginning with our 2008 1040, an 8833 was included for CPP. Then in 2011 both were discontinued and an 8833 was started for our DB pension plans.
I was hoping to see consistent filings of our 1040s - would make it easier for me to get a grip on how to do our 1040. I'm starting to better understand there are sometimes options, like whether to submit an 8833.
Thank you!
In reality, an 8833 is only needed in the rarest cases, as the income threshold in the regulations is quite high.
But it is good practice to include when it the treaty position you are claiming is unusual.
There is no need for one on your pension. If there had been, it would have been needed from the start.
There is no need for one for your RRSP/RRIF.
You could file one for SS/OAS/CPP, but this is such a well known claim that no one files it. Just make sure you report all OAS/SS/CPP on line 20a and 0 on line 20b.
Since you haven't been doing your taxes, I wouldn't complicate things with 8833.
But it is good practice to include when it the treaty position you are claiming is unusual.
There is no need for one on your pension. If there had been, it would have been needed from the start.
There is no need for one for your RRSP/RRIF.
You could file one for SS/OAS/CPP, but this is such a well known claim that no one files it. Just make sure you report all OAS/SS/CPP on line 20a and 0 on line 20b.
Since you haven't been doing your taxes, I wouldn't complicate things with 8833.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
I assume you pay no tax in US, by using form 1116 to get credit for the Cdn tax on your pension? And one for your investment income.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Happy to know that I don't need to submit any 8833s. Thank you for the summary listing of things that don't require this form. I had read on this forum that the 8833s need to be mailed to the IRS as you cannot eFile them, so not doing them at all will simply the work.
We do not pay US tax as the 1116 has covered any tax for our pensions and for our investment income (dividends and interest), with some tax credit left over. I think our 1040 is pretty basic.
I've spent considerable time researching the various 1040 forms (and the most helpful information has been from your forum). Next I'm planning to use the 2014 TaxAct software to familiarize myself with the program, ensure that I can match what was submitted for 2014, etc....and then I'll be confident that I can do our 2015 1040 myself.
Thank you!
We do not pay US tax as the 1116 has covered any tax for our pensions and for our investment income (dividends and interest), with some tax credit left over. I think our 1040 is pretty basic.
I've spent considerable time researching the various 1040 forms (and the most helpful information has been from your forum). Next I'm planning to use the 2014 TaxAct software to familiarize myself with the program, ensure that I can match what was submitted for 2014, etc....and then I'll be confident that I can do our 2015 1040 myself.
Thank you!
Given you already had previous returns that were quite simple, you probably didn't have to spend "considerable time researching" your 1040.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best