PFIC and Mortgage backed securities
Moderator: Mark T Serbinski CA CPA
PFIC and Mortgage backed securities
Are bonds issued by CANADA HOUSING TRUST considered PFIC for US persons residing in Canada? In other words, are Canadian mortgage backed securities classified as PFIC?
Re: PFIC and Canada Mortgage bonds
In my initial post I referred to the issues of Canada Housing Trust as "Mortgage backed securities" but I should have referred to these issues as Mortgage bonds.
I have received no response on this forum, but I believe this is simply debt issued by Canada Housing Trust so I don't see why it should be classified as PFIC. I just received advice from a wealth management firm suggesting these issues are classified by PFIC but I am concerned the wealth management firm is simply not that familiar with this investment class for the purpose of offering this advice.
I have received no response on this forum, but I believe this is simply debt issued by Canada Housing Trust so I don't see why it should be classified as PFIC. I just received advice from a wealth management firm suggesting these issues are classified by PFIC but I am concerned the wealth management firm is simply not that familiar with this investment class for the purpose of offering this advice.