RRSP withdrawals by US citizens

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jcyr
Posts: 17
Joined: Mon Nov 07, 2016 9:12 pm

RRSP withdrawals by US citizens

Post by jcyr »

Currently a US citizen and resident who has made withdrawals from a Canadian RRSP in 2022. What documentation should I expect from the Canadian financial institution with respect to foreign income and foreign income tax credit?
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nelsona
Posts: 18659
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: RRSP withdrawals by US citizens

Post by nelsona »

You will get an NR-4 from the trustee. The withholding should be 25%. Any thing else is incorrect and will nered to be adjusted with CRA.

But regardless, you need to determine the taxable portion.
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
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