Canadian CPP and OAS as a US Resident
Автор: AKIF CPA
Загружено: 2024-07-22
Просмотров: 834
Canadian Pension Plan (CPP):
A pension program similar to the US Social Security system. If you have worked in Canada and made contributions to the CPP, you are eligible to receive pension benefits regardless of how long you lived in Canada. As long as you have contributed to the CPP, either directly or through an employer, you are eligible for CPP benefits. The amount is not dependent on the number of years lived in Canada.
Old Age Security (OAS):
A social program providing benefits based on residency in Canada. To qualify, you must have lived in Canada for at least 20 years after turning 18. The maximum benefit requires 40 years of residency. You can receive OAS if you have lived in Canada for at least 20 years after the age of 18. Some exceptions allow for counting years worked abroad for a Canadian employer. To receive the maximum OAS benefits, 40 years of residency is required.
We also get into taxes, reporting, and how to receive benefits while living in the US.
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