Hi,
I have lived in the USA in 2006 as a permanent resident. During thhe year I had to withdrawl 5000$ CDN to my CDN account. I was taxed at 25% witholding by my bank. I believe this satisfies Rev canada but do I have to declare this to the IRS as income? Is it tax treaty exempt? hat should I do?
Thank you for your time.
Best,
Kevin
RRSP income while a US permanent resident?
Moderator: Mark T Serbinski CA CPA
Please read many other posts on this topic on this forum.
Your RRSP is ALWAYS reportable, even if you do not take any money out. When you do take some out, some portion of it is taxable, based on the growth you had since you moved into US.
You must have been filing your 8891 forms every year... right?
Your RRSP is ALWAYS reportable, even if you do not take any money out. When you do take some out, some portion of it is taxable, based on the growth you had since you moved into US.
You must have been filing your 8891 forms every year... right?
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