PFIC Reporting Requirement

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stressfulauditor
Posts: 9
Joined: Thu May 05, 2022 5:18 pm

PFIC Reporting Requirement

Post by stressfulauditor »

I have a TFSA with only $9k holding the common XEQT Canadian ETF. I've received about $50 worth of dividends last year from this one ETF. Do I still need to do any PFIC Reporting even though it is under 25k? Thank you
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: PFIC Reporting Requirement

Post by nelsona »

You do not need to file the PFIC form. However you do need to treat the ETF as a PFIC, making whatever election you choose, and reporting the income in accord with that election.
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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