Passive foreign investment company ETF and ETF Series statements

Fidelity is pleased to offer passive foreign investment company (PFIC) annual information statements to unitholders of Fidelity exchange-traded funds (ETFs) and ETF Series of Fidelity Funds who are considered U.S. persons for U.S. tax purposes.

For unitholders of Fidelity Funds (excluding ETFs and ETF Series), please speak with your financial advisor or your discount broker, if applicable, about obtaining an individualized copy of your PFIC statements.

PFIC ETF and ETF Series statements

Fidelity’s ETF and ETF Series annual information statements (AIS) are available for the tax years listed below. An AIS provides the pro-rata per unit per day share of the ordinary earnings and net capital gains for the tax period. Investors 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 the pro-rata share of the ETF or ETF Series’ earned income and capital gains for U.S. tax purposes. This is roughly similar to how U.S. ETFs are taxed in the U.S. and is generally aligned with how Canadian ETFs and ETF Series 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. We strongly recommend you consult a U.S. tax specialist with regard to U.S. tax rules on PFICs and the implications of PFIC reporting to you.

Frequently asked questions

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This information is for general knowledge only and should not be interpreted as tax advice or recommendations. Every individual’s situation is unique and should be reviewed by his or her own personal legal and tax consultants." to the bottom of the webpage.