Passive Foreign Investment Company (PFIC) Annual Information Statements
Important information for Manulife mutual fund investors who are U.S. taxpayers
A Passive Foreign Investment Company (PFIC) is defined as a non-U.S. corporation (or a non-U.S. entity treated under U.S. tax principles as a corporation) where 75 per cent or more of its gross income is passive income, or at least 50 per cent of the corporation's assets produce or are held to produce passive income. Under this definition, Canadian mutual funds are treated as PFICs.
If you hold non-registered Canadians mutual funds and are a U.S. taxpayer, you are likely subject to the Passive Foreign Investment Company (PFIC) rules and are required to report income from each PFIC when you file your U.S. income tax return.
The PFIC rules are complex. Investors should consult their own U.S. tax advisor for advice on how these rules may impact their situation.
Manulife Investments provides PFIC Annual Information Statements for the following funds:
For more information, please contact Manulife Customer Service at 1-888-588-7999