DCPP reporting

WasFromCanada · Post by **WasFromCanada** » Sat May 11, 2013 1:30 pm

First of all, thanks Neison and many others who have been providing great information and help here.

My DCPP (defined contribution pension plan) was contributed 50/50 from myself and employer. I closed the account and transferred the balance (about $10K) to a new RRSP in July 2012 shortly after I moved to the States. For this year's US tax filing (extension filed), in addition to TD F90-22.1, what other form(s) should I use to report this closed DCPP? 8891, 8938, 3520, 3520-a, or others? I did go through old threads but couldn't find the answer. Perhaps it is because 8938 is relatively new? Thanks!!

nelsona · Post by **nelsona** » Sat May 11, 2013 1:41 pm

What type of account was the DCPP held before being put in an RRSP?

WasFromCanada · Post by **WasFromCanada** » Sat May 11, 2013 7:51 pm

The DCPP was a group retirement plan with Sun Life Canada. I believe it was an investment account type, as I was asked to choose from different investment performance profiles, for example, from high to low risk.

nelsona · Post by **nelsona** » Sun May 12, 2013 7:47 am

I would not bother with any reporting for the old accoiunt. It was never subject to 8891 or 3250, and since it would be included on your 8938 (if you meet othe thressholds) in its current form, yo uare fine.

Remember that this RRSP remains 100% taxable in US at withdrawal. You have no cost basis in this RRSP (unlike a personal RRSP) because none of the pension income contributions were subject to Cdn tax.
So make sure you keep this one separate from any other RRSPs that ypu have.

WasFromCanada · Post by **WasFromCanada** » Sun May 12, 2013 7:41 pm

Thank you Nelson. This is really helpful!!