Tax Rules for dormant Canadian RRSPs

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Krissy
Posts: 2
Joined: Wed Feb 12, 2025 9:25 pm

Tax Rules for dormant Canadian RRSPs

Post by Krissy »

Hello everybody,

I'm a Canadian living in Germany for the last few years. I have an RRSP account in Canada from which I haven't withdrawn any funds. Ever since I moved to Germany I haven't contributed anything to it nor have I made any trades. The account is dormant as I am not accessing it but there is interest which is tax sheltered until a withdrawal is made.

As long as I don't make a withdrawal my (Canadian) bank won't send me any tax info since taxation is deferred until supposed retirement. My question is since I haven't made any contributions, withdrawals or trades ever since I stopped being a tax resident in Canada, am I required to declare this as income?

I apologize if this has already been answered but I haven't found quite the answer I was looking for.

Thanks

Krissy
Krissy
Posts: 2
Joined: Wed Feb 12, 2025 9:25 pm

Re: Tax Rules for dormant Canadian RRSPs

Post by Krissy »

Nobody? Oh well I guess I'm fucked (and not in a good way). :D
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editorL
Site Admin
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Joined: Sat Feb 17, 2024 3:05 pm
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Re: Tax Rules for dormant Canadian RRSPs

Post by editorL »

Chill...

I mean, you posted the question just two days ago.

In addition, you are using a Canadian IP address to access this forum. So, you're not in Germany anymore? That's the past?

You could give some more information 'bout your situation, to be honest.

Anyway, feel free to post something in the Member introduction section of this forum. It is my understanding that this helps a lot.

Best regards
EditorL (Site admin)
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