RSSP deferred tax means?

tony · Post by **tony** » Wed Oct 26, 2016 8:33 pm

Suppose I start working in US Jan 1st (year 1). And, the following year, I choose to defered tax of Canada RSSP until distributed.
I come back to Canada Jan 1st (Year 2) and I withdraw RSSP.

1. DO I need to pay tax to US on withdrawal?
2. If no, why then we need to report its performance every year to US?

nelsona · Post by **nelsona** » Thu Oct 27, 2016 10:40 am

1. No. If you are not US resident or citizen, you will not have to file a US rtax return, and will not have to pay tax, even on the income you deferred.
2. You don't. What makes you think you do? You only need to KNOW the non-taxable amount when yopu move, and you keep this number in YOUR records UNTIL you start taking the money out while in US.

Have you bothered to read many of the threads on this site?

tony · Post by **tony** » Sun Oct 30, 2016 2:42 pm

thanks Nelsona.
I read somewhere (dont remember now) saying although it can be deferred you must bear with its nuisance by reporting RSSP gain every year to IRS.
Please let me know, if I choose deferred, do I still need to report it every year?

nelsona · Post by **nelsona** » Mon Oct 31, 2016 7:52 am

Again, please read correct information on THIS forum.

tony · Post by **tony** » Thu Nov 03, 2016 5:30 pm

What I mean by question #2 is (to use a correct tax term) is that:
need to report RSSP "internal income" to California (I am moving to California).
(i dont' withdraw money from rSSP, just keep it in canada)

Do i still need to do report yearly?
(ref: viewtopic.php?t=9787&highlight=fatca)

nelsona · Post by **nelsona** » Fri Nov 04, 2016 7:23 pm