Serbinski Accounting Firms

It looks like Part IV of 8938 indicates that you do not have to report again for assets that you have listed on a 3520/2520A or an 8621

Sounds like there is some "room for interpretation" as to whether a Canadian MF is a PFIC? Any resources or guidance on that question that anyone can point to, or precedents? Would it be practical to catch up on my back reporting on 1040's and FBAR's for 3 years now assuming that the MF's ...

Thanks, Nelsona. If I therefore report the income on an annual basis, and the mutual fund company does not make a capital gains distribution, then the only time the capital gain is recognized is when I sell the fund - and at that time it is reported as a long term capital gain?

I am one of the "accidental Americans", born in the US but have lived all my life in Canada, just discovering the requirement to file US tax returns. I have been reading through the material provided in this forum - many thanks to the folks who have contributed over the years. I am hoping ...