Withdrawl of RRSP to US resident - pay 25% - anything else?

denisharlock · Post by **denisharlock** » Sun Feb 04, 2007 6:15 pm

As a US resident with an RRSP -
If I withdraw my 300K RRSP - Canada withholds the 25% - fine.
This is reported as 'pension & annuity' income line 16a or 16b in the US.
But will I also pay extra US tax? If reported as 16a no, but 16b yes.
It seems it would also be taxable in the US - but I'm not sure if there is any way to offset this?

Thanx, Denis[color=blue][/color]

nelsona · Post by **nelsona** » Mon Feb 05, 2007 12:55 am

PLease read countless posts on US treatment of RRSP withdrawals, and calculaton of 16b.

Be sure that, if you have been in US a few years, that ALL reporting requiremnts in prevvious years had been met.