If you are a U.S. expat that has invested or is considering investing in foreign mutual funds, there are a number of serious U.S. tax considerations that you should take into account. These considerations stem mainly from the characterization of most foreign mutual funds as so-called “PFICs” for U.S. tax purposes. They also stem from the fact that, with the advent of FATCA, the IRS is paying closer attention to foreign investments by U.S. persons. In this blog, we introduce you briefly to the world of PFICs and point out some of the specific tax issues associated with PFIC status:
Recent Comments