Treatment of (US) Tax Deferred Annuity in Canada tax filing
Moderator: Mark T Serbinski CA CPA
Treatment of (US) Tax Deferred Annuity in Canada tax filing
I'm US citizen working for US employer (in USA) residing in Canada. I know how to handle 401k and RRSP, but have the option of a tax deferred annuity (pre-tax payroll deduction, no employer contribution) §403(b). Question: how are those handled? Are they also tax-deferred in Canada?
Yes, they are treated the same as 401(k), and should be added to the form that you currently file for your 401(k) with CRA. This will reduce your RRSP contribution room, like your 401(k) does.
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