Any CRA foreign trust filings for US Mutual funds & ETFS

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tp77
Posts: 1
Joined: Thu Nov 29, 2012 5:36 pm

Any CRA foreign trust filings for US Mutual funds & ETFS

Post by tp77 »

I noticed that some U.S. exchange traded funds refer to themselves both as a corporation and as a trust in their documentation.

If a CDN resident holds U.S. mutual or exchange rate funds does this trigger any foreign trust reporting on the Canadian side? Would Forms T1141 (distributions from and indebtedness to a non-resident trust) or T1142 (transfers or loans of property to a non-resident trust) be required?

Are there any other special filing requirements we should know about for CDN residents with US ETF or mutual fund investments?
nelsona
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Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Assuming you bought these through a broker licensed in Canada, you definitely have no further Cdn reporting to undertake.

If, however, you are buying these thru an unlicensed broker (ie. a US broker, which is not permitted undr prov securities regs), then the above may or may not be true.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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