copy- US PFIC Taxation Summary by Bobus

[Bobus]

I am taking the liberty of creating a new thread to post summaries on some tax / financial topics that seem to be of interest to many members.

I request that other members not post in this thread. If members have queries on the summaries posted, feel free to pose them in some other thread e.g. basic / silly finance/ tax questions thread, and I will try to respond. Based on member feedback (repeat, not in this thread please), I will consider revising / improving the summaries later to make them more reader friendly / accurate.

These summaries will be posted over time and the pace will depend on my motivation.

The first topic that I will deal with is PFIC taxation. The second topic will be GOI taxation of IRAs. Members may feel free to suggest other topics - again please do not offer these suggestions in this thread and clutter it up - please offer them elsewhere.

Also, I do not like PMs on the above, unless the issue is private. Feel free to use an appropriate thread to communicate to me and to others - that is what forum threads are for. One-on-One communication via PM benefits only two people whereas threads benefit several. Further the two people stand to benefit from others' inputs when the exchange is public.

If anyone needs hand holding with respect to his / her situation, I am willing to help (again not via PMs and not in this thread, but other appropriate threads) on the condition that the person seeking help makes a donation by preparing a DD/cheque in favor of Anbe Sivam Charitable Trust and mailing it to

8A4, Rajaji Road,
Salem - 636007
Tamil Nadu
India

The trust funds are used to run a school for poor children in Salem. Am not involved with the trust, but I know the persons who run the trust and I trust them.

Repeat, this thread is for summaries to be posted by Bobus only - no other posts please. Thanks.