Demystifying PFICs: A Beginner's Guide to US Taxation of Passive Foreign Investment Companies

Join tax attorneys Anthony E. Parent and John Richardson in this informative video as they unravel the complexities of Passive Foreign Investment Companies (PFICs) for the average US investor. They will answer critical questions like what constitutes a PFIC, if PFICs are just foreign mutual funds and the types that are most advantageous to own. Additionally, they will discuss which types attract the highest taxes. We are privileged to have Keith Redmond, a global advocate for Americans abroad, join us in this discussion. Tune in to gain valuable insights into the world of PFICs.

[mariacicarelli]

Today I took the day off to do cpe and your amazing Titan Class thank you

[Honestcritic]

Sec 1291(g) provides for foreign tax credit with respect to distributions from a PFIC, so don’t know why he was saying we would be subject to double taxation and not be able to use foreign tax credit? 30:56

[mikebreen]

Fees on something like a UK stocks and shares ISA through Vanguard are very low, the day of the banks charging 5 percent to get in and then 1 percent of the fund per year are gone.

Not that an American will be allowed to own one.

[pinaka]

What about ETFs purchased in the Indian stock market - are they subject to PFIC by IRS ?

[ofek-skkn]

Well but if its a trust, wouldnt I have to file 3520's and pay too?