Discover all the tax services we offer
Get an instance service estimate
Comprehensive guides on everything you need to know from planning your expat journey to filing your expat taxes with ease.
Our Country Guides will help you understand the ins and out of your specific U.S. expat tax requirements.
Access up-to-date articles, breaking news, deadline information and in-depth case studies on US expat taxes.
Get the answers to all your questions and browse Greenback’s most frequently asked customer questions.
Sign up for one of our live webinars hosted by our expert accountant team or watch one on-demand today.
Subscribe to our monthly newsletter to get money-saving tips, expat tax news, and exclusive promos.
Learn how our straightforward pricing, easy process, and an expert team makes us uniquely qualified to simplify the hassle of expat tax filing.
We’ve assembled a team only the most experienced, knowledgeable, and friendly CPAs and IRS Enrolled Agents our clients can trust.
Read our client testimonials to get a feel for the Greenback experience straight from the expats we’ve worked with.
We’re featured in many reliable news sources thanks to our reputation as experts on US taxes abroad.
Whatever your expat tax needs, wheverver in the world, we’d love to hear from you.
Blog
Canada is just a hop, skip, and a jump away from northern parts of the US, and a popular destination for Americans moving abroad. Find out how US expat taxes in Canada apply to Canadian retirement programs.
Canada has a public retirement system comprised of three parts: the Canada Pension Plan (CPP), Old Age Security (OAS), and the Quebec Pension Plan (QPP). The QPP is a plan equivalent to CPP for residents of Quebec province. Canadian law also provides for private tax-advantaged employer-sponsored plans and individual plans.
The CPP Board functions as a sovereign wealth fund, managing the contributions of all employed Canadians over the age of 18. Employment in Canada brings with it mandatory wage-based employee contributions to either CPP or QPP. At age 65, participants can begin drawing benefits based on earnings on which contributions were made.
To be eligible for CPP benefits, you must meet the following criteria:
Participation in and distributions from the OAS pension program are not determined by employment history. There are no direct contributions made by participants or their employers. Eligibility requirements are as follows:
OAS benefits are based on how long you have resided in Canada after age 18.
Registered Retirement Savings Plans (RRSP) and Registered Retirement Income Funds (RRIF) are private tax-deferred plans that allow contributions and income accumulation to go untaxed until withdrawn. The IRS recognizes the tax-deferred treatment of these plans up to the limits of similar US plans.
Under the US-Canada income tax treaty, pension distributions are generally taxable by the resident country and, at a maximum rate of 15%, by the country in which the pension distribution arose. A foreign tax credit may be claimed on the US return for Canadian taxes imposed on Canadian-sourced pension benefits. Both CPP and OAS benefits are only taxable in Canada.
Greenback accountants specialize in expat taxes, and whether your questions are about how to file, or how to plan for a tax-savvy retirement, you can be sure you’re getting the best information! Contact Greenback today.
Use our simple excel calculator to get an estimate of how the foreign earned income exclusion will save you money. It will make your day!