September 2017 JD Supra

Since FATCA’s implementation in 2010, investing in a Passive Foreign Investment Company (PFIC) is a questionable decision.  PFICs are reportable investments and their tax regime is punitive.  Under FATCA, US Taxpayers’ undisclosed foreign financial holdings are available to IRS through its receipt of reports provided by Foreign Financial Institutions (FFI).     https://www.jdsupra.com/legalnews/does-investing-in-a-pfic-make-sense-85407/