Feeling absolutely shitty, got a low T levels and I'm always brain fogged and sleepy. Do you think I will immediately get TRT injections. This is my second low test score. The first one had 2.8 and this one is slightly higher because I didn't go to the gym the night before
Hi everyone,
I’m a New Zealand-based US Lawful Permanent Resident since July 2025 (Green Card holder first) working through my 2025 tax year filings. I’m looking for some feedback or shared experiences regarding claiming an exemption for KiwiSaver accounts under Revenue Procedure 2020-17.
I am planning to attach a disclosure statement to my return to exempt my KiwiSaver from Form 3520 and 3520-A reporting. My logic is that KiwiSaver meets the "Tax-Favored Foreign Retirement Trust" requirements under Section 5.03:
Tax-Favored Status: It’s a PIE with capped tax rates and government credits.
Information Reporting: It’s regulated by the NZ IRD and Financial Markets Conduct Act 2013.
Contributions: All contributions are derived from personal services (employer/employee) and meet the percentage-of-income limits.
Withdrawal Limits: Funds are locked until age 65, with standard exceptions for hardship/first home.
My current compliance stack for this year includes:
Form 8621: Reporting PFIC income via the mark-to-market election.
Form 1116: Claiming Foreign Tax Credits for PIE taxes paid to NZ.
FinCEN Form 114 (FBAR): Reporting the accounts separately.
Schedule B / Schedule 1: Reporting the income as ordinary income.
My questions for the group:
Has anyone successfully used Rev. Proc. 2020-17 for KiwiSaver without receiving a notice from the IRS?
For those who have done this, did you include a "Reasonable Cause Statement" just in case the IRS disagrees with the exemption eligibility?
Are there any specific pitfalls I should look out for regarding the "personal services" contribution requirement (if a small voluntary contribution was made in the past)?
Any insights from those who have navigated the PFIC + 3520-A exemption overlap would be greatly appreciated!