RDSP from Canada

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RDSP from Canada


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Old 20th January 2020, 03:09 PM
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indigo100 is on a distinguished road

Users Flag! Originally from canada. Users Flag! Expat in usa.
Default RDSP from Canada

I have read the US views the Canadian RDSP as a foreign trust that includes arduous reporting but what are the taxation implications, in other words, how much is it taxed?

Also, what if a US citizen residing overseas has not filed taxes because they were not aware. What are the implications? The individual made less than $4k a year for the past 3 years. They also get the equivalent of social security from the Canadian government in the amount of $800.

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