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Foreign stocks to avoid ?
Old 09-11-2013, 01:55 PM   #1
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Foreign stocks to avoid ?

From time to time people on the board who are up on tax rules relating to foreign investments have mentioned that a US investor should not buy say, a Canadian REIT. I think the tax reporting is disadvantageous, Since I have not done this, I am unfamiliar with the rules and issues. I cannot even remember the name of the class, maybe PPHC? I do not want to buy any additional tax issues, the normal 1040 is enough already.

He is a brief write up of a Hong Kong property company, traded in Hong Kong and also on US pink sheets. I see these sorts of articles sometimes, but never a mention of any tax difficulties. Could some of you look at this security, and tell me if it fits in the tarnished category, and what the criteria are? The name is Cheung Kong Holdings.

Cheung Kong Holdings: A Classic Conglomerate Valuation Dilemma - Seeking Alpha

Thanks for any help.
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Old 09-11-2013, 03:31 PM   #2
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I think you are talking about PFIC. I don't think it applies to Cheung Kong since is a holding company not a foreign REIT but PFIC is a pain in the ass to figure out though. You might have to do some of the homework yourself by googling PFIC.
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Old 09-11-2013, 04:04 PM   #3
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Quote:
Originally Posted by hlfo718 View Post
I think you are talking about PFIC. I don't think it applies to Cheung Kong since is a holding company not a foreign REIT but PFIC is a pain in the ass to figure out though. You might have to do some of the homework yourself by googling PFIC.
That's it. I have looked it up before, trying to figure out what is included in this classification, but I really came up blank. I did find definitions, but I couldn't tell what fit and what didn't. Thanks for reminding me of the name.

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