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?
Defined Contribution Pension Plan (DCPP)
Moderator: Mark T Serbinski CA CPA
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- Posts: 12
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Re: Defined Contribution Pension Plan (DCPP)
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
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- Posts: 12
- Joined: Wed Dec 02, 2020 2:08 am
Re: Defined Contribution Pension Plan (DCPP)
much appreciated!
no other tax or cross-border issues, right?
no other tax or cross-border issues, right?