Investment Savings Funds - PFICs or 3520 Trusts or Neither?

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
nquery
Posts: 56
Joined: Tue Feb 14, 2012 7:27 pm

Investment Savings Funds - PFICs or 3520 Trusts or Neither?

Post by nquery »

Hi,

I had a couple of Canadian based Investment Savings Funds in my portfolio prior to emmigrating to the US last year - they were used to hold cash form my portfolio that was not invested in securities. Are they classified as 3520 trusts, 8621 PFICs, or do I simply just the report the interest income on the 1040?
Top
nquery
Posts: 56
Joined: Tue Feb 14, 2012 7:27 pm

Post by nquery »

I think I have found the answer. They are mutual funds and thus 8621 PFIC's that I will just mark to market. Thanks.
Top
Post Reply

Return to “Canada / United States Tax & Accounting”