It depends on if you are a US citizen or resident or if you are also a resident of Canada. Please read the following information.
According to IRS sources,
The taxation of payments received from Canadian retirement programs that are similar to the U.S. Social Security system receives special tax treatment due to an income tax treaty between the United States and Canadian governments. The way this income is taxed depends on the recipient’s residence.
The special tax treatment applies to payments received 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) and who is also a resident of Canada, the benefits are taxable only in Canada.
-If you are not a US citizen or resident, you are required to file a Form 1040-NR reporting only US source income. You would not need to report this foreign retirement income.
