RRSPs and US Expats - Episode #7

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On episode #7 of Crossing the 49th we discuss Canadian RRSPs and how they affect US expats living in Canada.


What are RRSPs?

How do they work?

Tax deduction
Spousal RRSPs
Home buyers plan
When they RRIF 71 years old

Impact on US Citizens in Canada?

US IRA versus Canadian RRSPs
Old 8891 form not used anymore
8833 treaty election
FBAR and 8938 reporting
Transferring your IRA to your RRSP
RRIF splitting
Likely not worth it

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#RRSP #expats #tax #Canada #US

Disclaimer:
The views expressed are those of Beacon Hill Wealth Management Ltd. partners and may change without notice. This content is for informational purposes only and does not constitute investment or tax advice, or a recommendation regarding any security, strategy, or account. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal. For tax matters, consult your own professional advisor.