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Changes To Saskatchewan Pension Regulations:
The government of Saskatchewan has amended its Pension Benefits Regulations, 1993 (the Regulations) effective April 1, 2002. The amendments to the Regulations allow funds in existing life income funds (LIFs) and locked-in retirement income funds (LRIFs) to be transferred into a registered retirement income fund (RRIF).IRS Revenue Procedure 2002-23 — Election To Defer Income Accrued In Canadian-Eligible Plans Pursuant To U.S. — Canada Income Tax Treaty
The United States’ Internal Revenue Service (IRS) has recently issued Revenue Procedure (Rev. Proc.) 2002-23, under Article XVIII(7) of the U.S. — Canada Income Tax Convention (the Tax Treaty). This is of particular interest to U.S. citizens or residents working in Canada who are members of a Canadian registered pension plan (RPP), registered retirement savings plan (RRSP), deferred profit sharing plan (DPSP), or registered retirement income fund (RRIF).
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