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]
Withdrawl of RRSP to US resident - pay 25% - anything else?
Moderator: Mark T Serbinski CA CPA
-
- Posts: 27
- Joined: Sat Feb 03, 2007 10:31 pm
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.
Be sure that, if you have been in US a few years, that ALL reporting requiremnts in prevvious years had been met.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing