Indian mutual funds may feel safe and familiar to investors, but for U.S. taxpayers, they’re a PFIC landmine. Thousands of Indian-Americans investing in ICICI, HDFC, SBI, or Nippon funds...
Many Indian-origin taxpayers living in the U.S. invest in Indian mutual funds like HDFC, ICICI, or SBI schemes without realizing these may be classified as Passive Foreign Investment Companies...