CAM Offers U.S. Tax Reporting Statements to Renaissance Mutual Fund Investors
CIBC Asset Management (CAM) offers investors who file U.S. tax returns, reporting information that will help them receive more favourable tax treatment on their mutual and pooled fund investments.
CAM will provide Passive Foreign Investment Company (PFIC) Annual Information Statements, upon request, for Renaissance Mutual Funds in non-registered retirement savings accounts, for the 2014 reporting year, which covers the period from July 1, 2013 to June 30, 2014. This period is deemed acceptable by the Internal Revenue Service (IRS). With these statements, U.S. persons, including U.S. citizens and green card holders, can elect to have their PFIC holdings treated as a Qualified Electing Fund (QEF) on their tax returns. The QEF election allows long-term capital gains to be taxed at more favourable rates and avoids interest penalties.
To request PFIC statements: Requests for the 2014 reporting year must be made no later than February 27, 2015. To request PFIC Annual Information Statements on behalf of clients, please call or email Renaissance Client Services.
Questions? If you have questions, please contact your Renaissance Investments sales representative.
Renaissance Investment family of funds is not registered with the United States Securities and Exchange Commission and they are sold in the United States only in reliance on exemptions from registration.