PFIC Reporting
CIBC 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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This material is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. To obtain a copy of the simplified prospectus, call 1-888-888-FUND (3863). Alternatively, you may obtain a copy from your advisor.
Any information or discussion about the current characteristics of this mutual fund or how the portfolio manager is managing the mutual fund that is supplementary to information in the prospectus is not a discussion about material investment objectives or strategies, but solely a discussion of the current characteristics or manner of fulfilling the investment objectives and strategies, and is subject to change without notice.
Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer, nor are they guaranteed.
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