With your current 401(k) contributions, an RRSP or FHSA contribution does not lower your 2026 U.S. income tax; your pre-tax 401(k) lowers Canadian tax only if you remained Canadian-resident and meet RC268, not if you emigrated in June.

Article XVIII(8)(f), pages 15–16

(f) With respect to contributions and benefits that are attributable to services performed during a period in the individual's current taxation year, no contributions in respect of the period are made by or on behalf of the individual to, and no services performed in that other State during the period are otherwise taken into account for purposes of determining the individual's entitlement to benefits under, any plan that would be a qualifying retirement plan in that other State if paragraph 15 of this Article were read without reference to subparagraphs (b) and (c) of that paragraph.

Explanation of Article XVIII(15) and General Note paragraph 10

Thus, U.S. individual retirement accounts (IRAs) and Canadian registered retirement savings plans (RRSPs) are not treated as qualifying retirement plans unless addressed in paragraph 10 of the General Note (as discussed below). Paragraph 10 of the General Note provides that the types of Canadian plans that constitute qualifying retirement plans for purposes of paragraph 15 include the following and any identical or substantially similar plan that is established pursuant to legislation introduced after the date of signature of the Protocol (September 21, 2007): registered pension plans under section 147.1 of the Income Tax Act, registered retirement savings plans under section 146 that are part of a group arrangement described in subsection 204.2(1.32), deferred profit sharing plans under section 147, and any registered retirement savings plan under section 146, or registered retirement income fund under section 146.3, that is funded exclusively by rollover contributions from one or more of the preceding plans.

Article XVIII(15)(b), page 19

(b) That is not an individual arrangement in respect of which the individual's employer has no involvement; and

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

You have to report your world income (in Canadian dollars) for the part of the year that you were considered a resident of Canada. After you leave Canada, as a non-resident, you pay Canadian income tax only on your Canadian source income.

Line 20800

If you have received any contribution receipts, you may claim these as a deduction at line 208 00 of your income tax and benefit return up to your RRSP deduction limit.

To open an FHSA, you must be a qualifying individual by meeting all of the conditions below when you open your account. You are a resident of Canada. If you do not meet all of the conditions above, you are not a qualifying individual and cannot open an FHSA.

If you become a non-resident of Canada after you open your FHSA, you can continue to participate normally in your FHSA, with one exception: You cannot make a qualifying withdrawal to build or buy a qualifying home while you are a non-resident of Canada.

Contributions that you make to your first home savings accounts (FHSAs) are generally deductible on your income tax and benefit return for the year of the contribution or a future year, similar to registered retirement savings plan (RRSP) contributions. Over your lifetime, the most you can deduct from your income as an FHSA deduction is $40,000. Contributions that you make to your FHSAs during the first 60 days of the year cannot be deducted on your income tax and benefit return for the previous year, unlike contributions to an RRSP.

26 USC 219(a), (e)

In the case of an individual, there shall be allowed as a deduction an amount equal to the qualified retirement contributions of the individual for the taxable year. For purposes of this section, the term "qualified retirement contribution" means— (1) any amount paid in cash for the taxable year by or on behalf of an individual to an individual retirement plan for such individual's benefit, and (2) any amount contributed on behalf of any individual to a plan described in section 501(c)(18).

Designated Roth employee elective contributions are made with after-tax dollars. Traditional, pre-tax employee elective contributions are made with before-tax dollars.

Deferral limits for 401(k) plans

The limit on employee elective deferrals (for traditional and safe harbor plans) is: $24,500 in 2026, subject to cost-of-living adjustments. Generally, you aggregate all elective deferrals you made to all plans in which you participate to determine if you have exceeded these limits.

Individual Income Tax Guide

In general, Colorado imposes an income tax on the modified federal taxable income of each individual, whether they are a Colorado resident, a nonresident, or a part-year resident.

You must file Form 1040, U.S. Individual Income Tax Return, if you are a dual-status taxpayer who becomes a U.S. resident during the year and who is a resident of the U.S. on the last day of the tax year. Write "Dual-Status Return" across the top of the return. Attach a statement to your return to show the income for the part of the year you are a nonresident.

You will be considered a United States resident for tax purposes if you meet the substantial presence test for the calendar year. To meet this test, you must be physically present in the United States (U.S.) on at least: 31 days during the current year, and 183 days during the 3-year period that includes the current year and the 2 years immediately before that, counting: All the days you were present in the current year, and

Sections 5 and 6

Subject to any future guidance that may be issued by the Treasury Department and the IRS, beneficiaries (regardless of whether they are “eligible individuals” within the meaning of section 4.01 of this revenue procedure) and annuitants are not required to report contributions to, distributions from, and ownership of a Canadian retirement plan under the simplified reporting regime established by Notice 2003–75 (Form 8891) or pursuant to the reporting obligations imposed by section 6048 (Form 3520). This revenue procedure does not, however, affect any reporting obligations that a beneficiary or annuitant of a Canadian retirement plan may have under section 6038D or under any other provision of U.S. law, including the requirement to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), imposed by 31 U.S.C. § 5314 and the regulations thereunder.

A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.

The annual due date for filing FBARs for foreign financial accounts is April 15. The Act also allows an extension of the filing deadline of up to six months. FinCEN will grant filers failing to meet the FBAR annual due date of April 15 an automatic extension to October 15 each year. Accordingly, specific requests for this extension are not required.