Reporting Canadian private pension plan?
Moderator: Mark T Serbinski CA CPA
Reporting Canadian private pension plan?
I am US citizen resident of Canada. I contribute to my employer's pension plan through automatic payroll deduction. How do I report this? Is this a foreign trust? Is it reported on FBAR?
As long as this is a pension plan, rather than say a group RRSP, since you are not in control of the account, it does not go an FBAR. Since it is a pension by the rules of CRA it is forgiven of any trust reporting by IRS (unlike RRSPs).
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best