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Showing results for tags 'Canada'.
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Hello All - Longtime lurker, first time poster. I really appreciate all of the insight from this forum. My question: Canadian based company has a few US Employees, they are Sales People located throughout the US. They want to provide similar benefits to their US Employees like they do to their Canadian Employees. They are inquiring about a startup 401k Plan. Assuming they have an EIN would it be feasible to create a start-up 401k Plan for these employees? I don't see a reason why they can't but I have zero experience with a Foreign Company setting up a new 401k Plan so I want to make sure I am not missing something. If there is an alternative suggestion to a 401k I would be all ears as well. Thank you very much.
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Hello, My company is evaluating two options: whether to sponsor in Canada RRSP or combined plan DPSP/RRSP. There will be 10 employees, employee will aim to contribute annually $10,000, employer will contribute $5,000 regardless. So can someone walk me through the costs and benefits of both plans FROM EMPLOYER's PROSPECTIVE. My understanding is that if the employer contributes under DPSP - it will be separate from RRSP and can be deducted as operating expense. If the employer contributes into RRSP - it will be part of the salary and thus taxable to the employer as a salary. So what is the bottom line for the employer in each scenario? Also, how much does it typically cost to open/maintain the plan, etc... I would appreciate any information or links to some useful sources, besides BenefitsCanada. Thank you, Kseniya
