Deducting 401(k) Contributions in Canada Cross-Border Retirement Tax Rules Explained

Deducting 401(k) Contributions in Canada 🇺🇸🇨🇦

In this video, Lucas Wennersten, CFA, CFP® (Canada & U.S.) from 49th Parallel Wealth Management, explains how cross-border workers and dual residents can navigate the complex Tax Rules around deducting 401(k) contributions in Canada.

You’ll learn:
🔹 When 401(k) contributions are tax-deductible in Canada
🔹 How the Canada-U.S. Tax Treaty affects 401(k) deductions and withdrawals
🔹 The difference between RRSPs and 401(k)s for cross-border taxpayers
🔹 How the SECURE Act 2.0 changes 401(k) catch-up contributions and their tax treatment
🔹 Key compliance tips to avoid double taxation and maximize your retirement savings

If you contribute to a 401(k) while living or working in Canada, understanding how to deduct 401(k) contributions in Canada is essential for optimizing both your Canadian and U.S. tax outcomes.

📘 Learn more:
👉 https://49thparallelwealthmanagement.com

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