How to report PFIC investment swaps

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
W. Mark
Posts: 1
Joined: Thu May 22, 2014 4:11 pm
Location: Canada

How to report PFIC investment swaps

Post by W. Mark »

Over the years there have been numerous instances of PFIC investment swaps within our Canadian mutual funds account. Sometimes a portion and at other times all of a given fund was switched in kind for a new fund or to add to a different existing fund. This has always been a function of our investment adviser striving to optimize our portfolio... not create a distribution or disposition. How do we report these kinds of changes to a given pair of PFICs?

If this question has been addressed before perhaps someone could point me in the direction of that discussion.

Thanks for your assistance.
Top
Post Reply

Return to “Canada / United States Tax & Accounting”