PFIC Reporting
CIBC Global Asset Management offers investors who file U.S. tax returns, Passive Foreign Investment Company (PFIC) Annual Information Statements (AIS).
These AIS allow investors who file U.S. tax returns, with the advice of their tax advisor, to report holdings in their mutual funds as a Qualified Electing Fund Election (QEF) on Internal Revenue Service (IRS) Form 8621. Investors and advisors must complete Form 8621 for each Canadian mutual fund owned. A QEF allows long-term capital gains to be taxed at more favourable rates and helps investors avoid interest penalties.
U.S. tax laws regarding PFIC are complex, and we recommend that unitholders in Renaissance Investments consult with a U.S. tax advisor about the overall tax consequences and U.S. tax reporting requirements of their mutual funds.
The following information is provided to facilitate calculations and does not constitute tax advice.
To access more information about PFIC, please select the fund from the menu below. Select the PDF icon to download the file.
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