Passive foreign investment company ETF statements

PFIC ETF statements

An ETF annual information statement (AIS) is now available. The AIS provides pro-rata per unit per day shares of the ordinary earnings and net capital gains of the ETF for the tax period. Investors simply need to multiply the number of shares they held by the number of days they held them, and by the factors in the AIS, to determine their personalized PFIC reporting amounts.

The AIS will allow you to make the qualified electing fund (QEF) election on your U.S. income tax returns. In making the QEF election, include only the pro-rata share of the mutual fund’s earned income and capital gains for U.S. tax purposes. This is roughly similar to how U.S. mutual funds are taxed in the U.S., and is generally aligned with how Canadian mutual funds are taxed in Canada. There are other reporting options, but in many cases the QEF election will be the most beneficial to U.S. tax filers.

Ticker	Fidelity ETF	Tax year
	FCCD	Fidelity Canadian High Dividend Index ETF	2019
FCUD	Fidelity U.S. High Dividend Index ETF	2019
FCUH	Fidelity U.S. High Dividend Currency Neutral Index ETF	2019
FCRR	Fidelity U.S. Dividend for Rising Rates Index ETF	2019
FCRH	Fidelity U.S. Dividend for Rising Rates Currency Neutral Index ETF	2019
FCID	Fidelity International High Dividend Index ETF	2019
FCCL	Fidelity Canadian Low Volatility Index ETF	2019
FCUL	Fidelity U.S. Low Volatility Index ETF	2019
FCLH	Fidelity U.S. Low Volatility Currency Neutral Index ETF	2019
FCIL	Fidelity International Low Volatility Index ETF	2019
FCCQ	Fidelity Canadian High Quality Index ETF	2019
FCUQ	Fidelity U.S. High Quality Index ETF	2019
FCQH	Fidelity U.S. High Quality Currency Neutral Index ETF	2019
FCIQ	Fidelity International High Quality Index ETF	2019