New Tax Reporting for Investments in Foreign Companies
Laurie Frederiksen on
If your club has any investments in foreign owned companies or ETF's or mutual funds which are invested in foreign companies, you may have expanded tax reporting you'll need to do starting with your 2021 taxes. We are working to include this in our 2021 tax program.
To get ready, you need to make sure that each foreign company or foreign ETF or mutual fund you own has the correct country listed for it.
You can find that by going to the "1099 INT/DIV Review" page where you'll see a column labeled "country" that will show the code for the country. Make sure any foreign investments do not show "US". If they do, click on the country code shown to go to a page where you can select the correct country for the investment.
If you own a mutual fund or ETF that owns foreign investments, you should select "Various" off the list of country codes.
We'll be discussing this further in our "Getting Ready for Tax Season" webinar on December 8 at 8PM Eastern Time. You can sign up for it here:
In 2021, our club owned British American Tobacco- BTI. We sold it in October 2021. It is an ADR. Would this considered a foreign company?
Debbie Campbell
Assistant Treasurer, Morning Market Minders
Sent from my iPhone
On Nov 18, 2021, at 2:19 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
If your club has any investments in foreign owned companies or ETF's or mutual funds which are invested in foreign companies, you may have expanded tax reporting you'll need to do starting with your 2021 taxes. We are working to include this in our 2021 tax program.
To get ready, you need to make sure that each foreign company or foreign ETF or mutual fund you own has the correct country listed for it.
You can find that by going to the "1099 INT/DIV Review" page where you'll see a column labeled "country" that will show the code for the country. Make sure any foreign investments do not show "US". If they do, click on the country code shown to go to a page where you can select the correct country for the investment.
If you own a mutual fund or ETF that owns foreign investments, you should select "Various" off the list of country codes.
We'll be discussing this further in our "Getting Ready for Tax Season" webinar on December 8 at 8PM Eastern Time. You can sign up for it here:
In 2021, our club owned British American Tobacco- BTI. We sold it in October 2021. It is an ADR. Would this considered a foreign company?
Debbie Campbell
Assistant Treasurer, Morning Market Minders
Sent from my iPhone
On Nov 18, 2021, at 2:19 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
If your club has any investments in foreign owned companies or ETF's or mutual funds which are invested in foreign companies, you may have expanded tax reporting you'll need to do starting with your 2021 taxes. We are working to include this in our 2021 tax program.
To get ready, you need to make sure that each foreign company or foreign ETF or mutual fund you own has the correct country listed for it.
You can find that by going to the "1099 INT/DIV Review" page where you'll see a column labeled "country" that will show the code for the country. Make sure any foreign investments do not show "US". If they do, click on the country code shown to go to a page where you can select the correct country for the investment.
If you own a mutual fund or ETF that owns foreign investments, you should select "Various" off the list of country codes.
We'll be discussing this further in our "Getting Ready for Tax Season" webinar on December 8 at 8PM Eastern Time. You can sign up for it here:
My club own Primo Water, the corporate headquarters is in Tampa, but we have paid foreign tax. Its also listed on the Toronto stock exchange. I think its Canadian, but can't find the definite answer on their website. Any ideas?
On Nov 20, 2021, at 12:54 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
Yes. ADR's are a way that foreign companies can have shares traded on the US exchanges.
The word British in the name is probably a good clue also.
If you google:
British american tobacco headquarters location
You'll find that it is in London England.
Laurie Frederiksen Invest with your friends! www.bivio.com
In 2021, our club owned British American Tobacco- BTI. We sold it in October 2021. It is an ADR. Would this considered a foreign company?
Debbie Campbell
Assistant Treasurer, Morning Market Minders
Sent from my iPhone
On Nov 18, 2021, at 2:19 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
If your club has any investments in foreign owned companies or ETF's or mutual funds which are invested in foreign companies, you may have expanded tax reporting you'll need to do starting with your 2021 taxes. We are working to include this in our 2021 tax program.
To get ready, you need to make sure that each foreign company or foreign ETF or mutual fund you own has the correct country listed for it.
You can find that by going to the "1099 INT/DIV Review" page where you'll see a column labeled "country" that will show the code for the country. Make sure any foreign investments do not show "US". If they do, click on the country code shown to go to a page where you can select the correct country for the investment.
If you own a mutual fund or ETF that owns foreign investments, you should select "Various" off the list of country codes.
We'll be discussing this further in our "Getting Ready for Tax Season" webinar on December 8 at 8PM Eastern Time. You can sign up for it here:
Primo is owned by Cott corporation which is based in Canada. So that is why you'd be having Foreign tax withheld. It should be identified as a Canadian company.
Laurie Frederiksen Invest with your friends! www.bivio.com
My club own Primo Water, the corporate headquarters is in Tampa, but we have paid foreign tax. Its also listed on the Toronto stock exchange. I think its Canadian, but can't find the definite answer on their website. Any ideas?
On Nov 20, 2021, at 12:54 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
Yes. ADR's are a way that foreign companies can have shares traded on the US exchanges.
The word British in the name is probably a good clue also.
If you google:
British american tobacco headquarters location
You'll find that it is in London England.
Laurie Frederiksen Invest with your friends! www.bivio.com
In 2021, our club owned British American Tobacco- BTI. We sold it in October 2021. It is an ADR. Would this considered a foreign company?
Debbie Campbell
Assistant Treasurer, Morning Market Minders
Sent from my iPhone
On Nov 18, 2021, at 2:19 PM, Laurie Frederiksen <laurie@bivio.biz> wrote:
If your club has any investments in foreign owned companies or ETF's or mutual funds which are invested in foreign companies, you may have expanded tax reporting you'll need to do starting with your 2021 taxes. We are working to include this in our 2021 tax program.
To get ready, you need to make sure that each foreign company or foreign ETF or mutual fund you own has the correct country listed for it.
You can find that by going to the "1099 INT/DIV Review" page where you'll see a column labeled "country" that will show the code for the country. Make sure any foreign investments do not show "US". If they do, click on the country code shown to go to a page where you can select the correct country for the investment.
If you own a mutual fund or ETF that owns foreign investments, you should select "Various" off the list of country codes.
We'll be discussing this further in our "Getting Ready for Tax Season" webinar on December 8 at 8PM Eastern Time. You can sign up for it here: