Serbinski Accounting Firms

If we transfer or purchase a Canadian SP500 ETF such as VFV.TO, is it considered a PFIC?

I wanted to confirm that anytime we invest in a US ETF (in USD) even when held in Canadian brokerage, it is to be reported on T1135?
What about US Dollars held in a Canadian bank?

This is assuming the aggregate totals to more than 100k.

Would the US income alone for the year we move be considered as the base on which marginal tax for 401k to roth conversion be applied or would the canadian income be added and that would be the base?

Any update here?

Thank you for the detailed responses, they are really helpful!

So I actually did not submit any form 1116 in the last 3 years. Can I add them in my amended returns?

Or can I just not amend and plug the Foreign tax paid in 2013/2014/2015 in 2016's Form 1116?

Thanks,
Shamile

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