My basic question is do Canadian Employee Pension Plans need to be reported when filing U.S. taxes and if so where/how? (I'm not referring to annuities or other payments received from plans but the plans themselves when you are still working)
My situation is that I am a Canadian resident and I (and my employer) contribute to the public service pension plan. My wife is a U.S. citizen so we file U.S. taxes MFJ. For some reason this has not crossed my mind earlier but the value of the pension plan obviously increases every year, does this need to be reported somewhere like our RRSPs? Is any portion of that pension plan considered income now?
Any advice is greatly appreciated.
Canadian Employee Pension Plan and U.S. taxes
Moderator: Mark T Serbinski CA CPA
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