As a US resident and citizen, I have Canadian dollars in a Fidelity Brokerage account (transferred as an inheritance).
Fidelity allows me to buy shares in Canadian dollar denominated ETFs. For example, any of these:
ZNQ:CA BMO NASDAQ 100 EQUITY INDX ETF CAD UNITS
XUS:CA ISHARES CORE S&P 500 INDEX E
XIG:CA ISHARES US IG CO BD IDX ETF CAD HDG UNIT
Investing in these might be a good way to grow this money until the USD:CDN exchange rate improves.
Are these US domiciled funds (if that is the correct determining factor)?
Would these investments count as PFICs?
Many thanks.
Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
Moderator: Mark T Serbinski CA CPA
Re: Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
I was asking myself the same question a while back and someone responded that ETFs are passive income in another thread.
Re: Fidelity brokerage allows investments in CDN-denominated ETFs. Are these PFICs?
the response is the same as the past.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing