# Renouncing US citizenship



## craziness

Does anyone have any info about the tax consequences for Pension plans and RRSP if a dual(Can/US) citizen renounces US citizenship. I have never lived or filed in the states and am working through the filing of my 1040's for the past 5 yrs. I found some info that seems to say there is a 30% withholding on my Canadian Employer Pension and RRSP's if one renouces and defers tax. I'm thinking it is probably better to claim the yearly interest and then be free once I have renounced. Any thoughts would be appreciated.


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## Bevdeforges

The 30% withholding only applies to funds being withdrawn from the US (such as a US IRA or similar retirement fund) or from a US banking institution that is subject to US taxes and laws.

Once you renounce, you would be filing any future US tax returns as a non-resident and would not have to declare any non-US income. 
Cheers,
Bev


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