PFIC and Mortgage backed securities

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bluma
Posts: 2
Joined: Wed Dec 11, 2019 11:55 am

PFIC and Mortgage backed securities

Post by bluma »

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?
bluma
Posts: 2
Joined: Wed Dec 11, 2019 11:55 am

Re: PFIC and Canada Mortgage bonds

Post by bluma »

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.
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