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!
Splitting Canadian RRIF pension
Moderator: Mark T Serbinski CA CPA
Re: Splitting Canadian RRIF pension
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.
Filing jointly in US would of course solve that problem, but I suspect that he wouldn't want to do that.
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Re: Splitting Canadian RRIF pension
Thanks for the quick response....much appreciated!