RC268 - fill out and auto calculate/complete form online

Canada Revenue
Agency

Agence du revenu
du Canada

Protected B when completed
2023

Employee Contributions to a United States
Retirement Plan for Cross-Border Commuters

Complete this form if you are a Canadian resident who commutes or otherwise travels to the United States (U.S.) to perform
employment services, and you are a member of a qualifying retirement plan of your employer in the U.S. A 401(k) arrangement
is among the qualifying U.S. retirement plans. For a complete list of qualifying U.S. retirement plans, go to
canada.ca/cra-annex-b-convention-canada-usa (paragraph 10(b)).

Note

If you are temporarily working in Canada and you continue to participate in a qualifying retirement plan offered by your employer
in the U.S., see Form RC267, Employee Contributions to a United States Retirement Plan for Temporary Assignments.

You can deduct your contributions to your U.S. retirement plan on your Canadian income tax and benefit return if all of the
following conditions are met:

•

The remuneration you received for the services you performed as an employee in the U.S. is taxable in the U.S.

•

Your employer is a resident of the U.S. or has a permanent establishment in the U.S.

•

The contributions are attributable to the services you performed as an employee in the U.S., for which you received U.S.
taxable remuneration, and are made during the period you performed those services

The amount you can deduct cannot be more than the amount of tax relief available in the U.S. or your registered retirement
savings plan (RRSP) deduction room remaining after you deduct any RRSP contributions for the year.

Do not attach any statements of your contributions to your paper return, but keep them in case the Canada Revenue Agency
asks to see them.

Report all amounts in Canadian dollars. For information about exchange rates, see "Report foreign income and other foreign
amounts" in Step 2 of the Income Tax and Benefit Guide for Non-Residents and Deemed Residents of Canada.

Calculating your deduction

Amount of your 2023 contributions to the U.S. retirement plan

Amount of contributions that would qualify for tax relief in the U.S. if you were a resident of

the U.S. and performed your services in the U.S.

Enter whichever is less: amount from line 1 or line 2.

51205

2023 RRSP deduction limit

RRSP, PRPP, and SPP contributions that you are deducting for 2023 (from line 18 of Schedule 7)

–

Line 4 minus line 5

Enter whichever is less: amount from line 3 or line 6.

Add this amount to the amount on line 20700 of your return.

RC268 E (23)

(Ce formulaire est disponible en français.)

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Protected B when completed

Prescribed amount

An adjustment is required when you accrue benefits in one of your employer's U.S. retirement plans in 2023.
This prescribed amount reduces your 2024 RRSP deduction limit. Calculate your 2023 prescribed amount as follows:

Money purchase limit for 2023

If you participated only in a money purchase plan:

Amount of employer contributions made on your behalf for 2023

If you participated only in a defined benefit plan:

Your resident compensation for 2023 ⁽¹⁾

x 10% =

If you participated in a combination money purchase and defined benefit plan
(or in separate money purchase and defined benefit plans):

Amount of employer contributions made on your behalf for 2023

under money purchase provisions

Your resident compensation for 2023 ⁽¹⁾

x 10% =

Enter whichever is more: amount from line 4 or line 5.

►

Enter whichever is less: amount from line 1 or whichever amount applies to you from

line 2, line 3, or line 6. Add this amount to the amount on line 20600 of your return.

51230

(1)

Your resident compensation for 2023 is the total of your salaries, wages, and other amounts from your employment with
the employer in question.

See the privacy notice on your return.

RC268 E (23)

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