Do I pay US tax on interest earned from the US?

Posted on 03. Feb, 2011 by Phil Hogan, CA in Cross Border Tax Q&A

Question

Hello Phil,

I have what I hope is a simple question. If a Canadian resident earns
interest income on money invested in the US, does the Canadian
resident then have to file US income tax? If so, is an ITIN number
needed by the Canadian resident?

Thanks

XXXXXX

Answer

Hi XXXX
Under the US-Canada tax treaty you are not required to pay US tax on interest earned from the US. No ITIN (Individual Taxpayer Identification Number) is required.

Hope that helps.

Regards

Phil

Phil Hogan, CA
250-661-9417

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