topic Do I need to report contributions to a foreign retirement plan if I didn't receive any payments? in Get your taxes done using TurboTax

Do I need to report contributions to a foreign retirement plan if I didn't receive any payments?

Melymel12 — Tue, 10 Mar 2026 05:57:19 GMT

I am a U.S. citizen working/living in Canada. Through my work, I have a Canadian RPP (Registered Pension Plan) using Manulife. Both I and my employer make contributions, but I do not receive any payments. Does this still count as income? If so, do I need to file the "Canadian Registered Pension Income" in Turbotax? If it doesn't count as income (since I have only made contributions, not taken any out), do I need to report my contributions on my taxes?

Re: Do I need to report contributions to a foreign retirement plan if I didn't receive any payments?

Critter-3 — Fri, 30 Sep 2022 01:52:43 GMT

Contributions are NOT income to be reported on an income tax return.

Re: Do I need to report contributions to a foreign retirement plan if I didn't receive any payments?

Melymel12 — Fri, 30 Sep 2022 02:01:29 GMT

So I don't have to include anything about my foreign pension on my taxes if I didn't actually receive any distributions/payments? Also, if I only made contributions, do I need to include the amount in my pension account on the FBAR?

Re: Do I need to report contributions to a foreign retirement plan if I didn't receive any payments?

Robert Tong — Fri, 30 Sep 2022 02:59:53 GMT

If you didn't receive any distribution or payments from your foreign pension, it's not your income.

Individual income tax is normally cash-based. Income occurs when you actually receive the money.

As for FBAR,

A U.S. person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report:

a financial interest in or signature or other authority over at least one financial account located outside the United States if
the aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

You may check out FBAR details here. https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar