Defined Contribution Pension Plan (DCPP)

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future_canuck
Posts: 12
Joined: Wed Dec 02, 2020 2:08 am

Defined Contribution Pension Plan (DCPP)

Post by future_canuck »

I am a US Citizen, now living in Canada. Eventually I will become a Canadian citizen (and maybe renounce US citizenship).

Anyway, my company offers a DCPP where I can contribute up to 10% and they will match 4% (they match 1-to-1 for the first 4%). Is there a US-Canada tax treaty that results in favorable treatment of a pension plan like this? Or, will this be a PFIC?
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Defined Contribution Pension Plan (DCPP)

Post by nelsona »

This is a Cdn pension plan, Period. Exempt from PFIC. Just like an RRSP is exempt from PFIC considerations.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
future_canuck
Posts: 12
Joined: Wed Dec 02, 2020 2:08 am

Re: Defined Contribution Pension Plan (DCPP)

Post by future_canuck »

much appreciated!

no other tax or cross-border issues, right?
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