Toronto-based NEI Investments said Monday that Passive Foreign Investment Company (PFIC) Annual Information Statements will be made available to U.S. taxpaying clients holding investments with NEI.
The PFIC reports issued by NEI will provide U.S. taxpaying clients with the option to treat certain NEI Fund holdings as Qualifying Electing Funds (QEFs) on their U.S. tax returns.
Reporting statements for the 2014 tax year are expected to be posted on the NEI website by March 2.
“We are pleased to be able to announce that PFIC reporting will now be available to our growing segment of U.S. taxpaying clients,” said Mark Riden, chief financial officer of NEI Investments, in a release. “This reporting will be available on all of NEI’s funds and portfolios, providing complete flexibility when complying with U.S. tax filing requirements.”