Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
RE: Pension Plan for Employees of the XXX
This is in reply to your letter of December 22, 1986, concerning the income tax implications of transferring the actuarially-determined present value of an employee's accrued retirement pension from his plan in Canada to a similar plan in the United States. The comments below are based only on the information provided and are solely an opinion on the principle involved.
There are no provisions in the Income Tax Act or in the 1980 Canada-U.S. Tax Convention to permit a tax-free transfer of the employee's pension plan, and we are not aware of any proposed changes to the law in this area.
We trust that this is adequate for your purposes.
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© Her Majesty the Queen in Right of Canada, 1987
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© Sa Majesté la Reine du Chef du Canada, 1987
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