▲ 11 r/JapanFinance
Accidentally invested in NISA mutual fund as a US citizen
Hello, first post here. I am basically a noob at NISA and have shamefully only found out today that there is something called PFIC, which is most likely what I had been investing in on my NISA account using Tsumitate. From there, I found out that I am not supposed to even be allowed to purchase mutual funds that are PFICs, and even if I am, there are horrifying consequences (source: https://e-zeirishi.com/en/us-citizens-tax-japan-complete-guide/#pfic-nisa-ideco and https://www.navigatorjapan.com/blog-2-1/nisa-and-ideco-for-foreign-residents-in-japan-practical-options-for-us-persons )
Is there any way I can remedy the situation? FWIW, I have immediately stopped any further investments into that fund.
u/finalstarman2001 — 3 days ago