Splitting Canadian RRIF pension

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cinbk
Posts: 2
Joined: Fri Dec 07, 2018 1:47 am

Splitting Canadian RRIF pension

Post by cinbk »

I am a U.S. citizen living in Canada. My Canadian husband and I both have rrsps. He is 71 and switching his rrsp to a rrif by years end. I am not converting mine yet...I'm 67. He will start withdrawals next year. Can he split the income 50/50 with me as somewhere I read the U S doesn't recognize pension splitting?
Thanks for any reply!
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Splitting Canadian RRIF pension

Post by nelsona »

He can certainly split with you, as that income will not be considered yours in US, so there is no tax issue there. The trouble would come if you split your pension with him, since it would still be considered your income in US, but your Cdn taxes would be less, so you would have to play the numbers to get best benefit.
Filing jointly in US would of course solve that problem, but I suspect that he wouldn't want to do that.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
cinbk
Posts: 2
Joined: Fri Dec 07, 2018 1:47 am

Re: Splitting Canadian RRIF pension

Post by cinbk »

Thanks for the quick response....much appreciated!
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