I am a US resident with a Canadian Registered Pension Plan (RPP) from my previous Canadian employer. I do not actively contribute to this plan, it only grows based on investments within the plan. I cannot withdraw it yet due to provincial rules.
On the Schedule B there is a question about whether I received a distribution from, or was the grantor of, or transferor to, a foreign trust. Last year my tax preparer checked "no" to this box. Now I am wondering if it should have been checked "yes"? Are RPPs considered a trust on Schedule B - even though I did not get any distributions from the plan yet am I still considered a "grantor"?
Is RPP a foreign trust on schedule B?
Moderator: Mark T Serbinski CA CPA