The Internal Revenue Service recently made it easier for some cross border taxpayers to get favorable U.S. tax treatment and took additional steps to simplify some procedures.
Many Canadians and Americans with registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) now automatically qualify for tax deferral similar to that available to participants in U.S. individual retirement accounts (IRAs) and 401(k) plans.
For more details, please take a look at the attached link:
Dawne Helischauer / Sr. Benefits Specialist / PEO Canada