U.S. taxpayers investing in Manulife mutual funds will be provided with information to allow them the option to make a special tax election, the Qualified Electing Fund (QEF) election, when filing their U.S. tax return for 2014, Manulife Investments said Wednesday.
“Taxes are an important consideration of any investment decision” said Derek Saliba, assistant vice president, Manulife Investments. “We are providing this information to U.S. taxpayers investing in our funds so that they have the option to make the QEF tax election when filing their U.S. tax return.”
Manulife will provide Passive Foreign Investment Company (PFIC) Annual Information Statements for 54 funds. These statements contain information that will enable U.S. taxpayers to elect to treat these funds as QEFs should they choose to do so based on the advice of their tax advisor in light of their tax circumstances.
“It is important that investors both have the information to complete their tax filing obligations and consult with their advisor and tax professional on these issues as they can be complex,” said John Natale, assistant vice president, tax and retirement Services, Manulife.
PFIC Annual Information Statements for the 2014 calendar year will be available for 54 Manulife mutual funds. Click here for the list of funds.
On or about March 23, 2015, PFIC Annual Information Statements will be posted to manulifemutualfunds.ca on Mar. 23, 2014.
Manulife Investments is a division of Manulife Asset Management Ltd.