Go to “federal taxes” then “wages and income” and then “explore on my own” Scroll down the list of income items until you find “Canadian Registered Pension Income.” This category covers Canadian Registered Retirement Savings Plans (RRSP) and Registered Retired Income Funds (RRIF). Follow the prompts and you should be in good shape. This category covers both contributions and distributions, and covers both beneficiaries and annuitants.
According to the IRS, special tax treatment applies to payments receive from the following Canadian retirement programs: Canada Pension Plan (CPP), Quebec Pension Plan (QPP), and Old Age Security (OAS). If the recipient is a resident of the United States, the benefits:
are taxable only in the United States,
are treated as U.S. social security benefits for U.S. tax purposes, and
-
are reported on Form 1040, U.S. Individual Income Tax Return (or Form 1040A) on the line on which U.S. social security benefits would be reported.
If the recipient is a U.S. citizen or lawful permanent resident (green card holder) who is a resident of Canada, the benefits are taxable only in Canada.
