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
nelsona
Posts: 18314
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.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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