The PFIC Problem: Expert Guidance from Matthew Hitchcock, CPA

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Passport to Wealth™

57 episodes

6 days ago

Whether you're a U.S. expat, a digital nomad, or someone with ties to the US looking to explore opportunities abroad, join us on Passport to Wealth™. Here we dive into the nuances of cross-border living as a US citizen living abroad.

We'll be delving into essential topics such as managing your money while living abroad, staying compliant with US tax regulations, and uncovering stories of fellow expats who have forged the path to financial freedom while living abroad.

So, grab your passport and join us on this journey!

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The PFIC Problem: Expert Guidance from Matthew Hitchcock, CPA

Passport to Wealth™

25 minutes

3 months ago

The PFIC Problem: Expert Guidance from Matthew Hitchcock, CPA

In this episode of Passport to Wealth™, Arielle Tucker, CFP®, EA sits down with Matthew Hitchcock, CPA and founder of Hitchcock & Partner GmbH, to demystify one of the most complex and misunderstood parts of expat taxes: Passive Foreign Investment Companies (PFICs).

Whether you're investing in a foreign mutual fund or unknowingly triggering PFIC rules through a local retirement account, Matthew breaks down exactly how PFICs work, why they exist, and the real risks of getting it wrong, including harsh tax penalties and indefinite IRS examination windows.

If you’re a U.S. citizen living abroad and investing globally, this episode is a must-listen. Learn how to avoid costly mistakes, stay compliant, and build a tax strategy that supports your long-term financial freedom.