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

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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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If you would like to reach me to discuss a tax or accounting matter please call 250-381-2400 or email me at phil@hutcheson.ca.

The accounting and tax information provided on this website is for informational purposes only and does not represent binding professional advice. Appropriate tax treatment and advice will depend on an individuals particular circumstances and set of facts.

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