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?
Any CRA foreign trust filings for US Mutual funds & ETFS
Moderator: Mark T Serbinski CA CPA
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.
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