Invest Offshore

Tag: Tax code

  • PFIC Problem for Americans with Offshore Investments

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    by

    Aaron
    in

    WARNING: U.S. Persons who Purchased a Retirement Plan, Savings Plan issued from the Isle of Man, Dublin, Guernsey or U.K. Life Insurance Company are holding a British Style Life Policy (lump sum or savings plan) which requires annual reporting as a PFIC and suffers annual taxes on the growth of 36.9% and huge annual penalties…