RRSP withdrawals by US citizens

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jcyr
Posts: 17
Joined: Mon Nov 07, 2016 9:12 pm

RRSP withdrawals by US citizens

Post by jcyr »

Currently a US citizen and resident who has made withdrawals from a Canadian RRSP in 2022. What documentation should I expect from the Canadian financial institution with respect to foreign income and foreign income tax credit?
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: RRSP withdrawals by US citizens

Post by nelsona »

You will get an NR-4 from the trustee. The withholding should be 25%. Any thing else is incorrect and will nered to be adjusted with CRA.

But regardless, you need to determine the taxable portion.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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