US Cross-Border Tax Blog

Published by W.L. Dueck LLP

Posts filed under ‘Mutual Funds’

Steven Flynn

Year End Planning – US Citizens Who Own Canadian Mutual Funds

US citizens living in Canada face adverse US income tax consequences where they own Canadian or other non-US mutual funds.  If you are not sure how the US’s “Passive Foreign Investment Company” rules apply here, please see our previous blog entry US Persons Holding Non-US Mutual Funds. If you are familiar with this issue, then you know that certain distributions and sales of non-US mutual funds often result in unexpected US tax liabilities and significant and expensive disclosure and reporting… Read More