CI Investments supports U.S. taxpayer clients

TSX Symbol: CIX 
TORONTO, July 3, 2014 /CNW/ - CI Investments Inc. ("CI") announced today that 
starting with the 2014 tax year, it will be providing additional tax 
information to assist its U.S. taxpayer clients in completing their U.S. tax 
returns. 
CI will issue Passive Foreign Investment Company (PFIC) Annual Information 
Statements for CI mutual funds held by U.S. taxpayers, which may allow them to 
achieve more favourable tax treatment of their CI mutual fund investments. 
"CI's goal is to make U.S. tax and information reporting of its funds as 
straightforward and cost effective as possible for its clients who are U.S. 
persons," said Derek Green, CI President. 
The PFIC Annual Information Statement, which CI will supply on request, sets 
out the investor's pro-rata share of a fund's ordinary earnings, net capital 
gains and other distribution information in accordance with U.S. tax 
legislation. This statement allows U.S. taxpayer clients to elect to treat a 
CI fund held in an open account as a Qualified Electing Fund (QEF) on their 
tax return. 
"The QEF election is the most favourable method for a U.S. taxpayer to report 
on and calculate income from owning a PFIC in a Canadian non-registered 
investment account," Mr. Green said. 
Under U.S. tax law, Canadian mutual fund trusts and corporations are 
considered PFICs, which are subject to strict rules designed to limit U.S. 
taxpayers' ability to defer tax through foreign investments. With the QEF 
election, the tax treatment of Canadian mutual fund holdings held in open 
accounts will be similar to that of U.S. mutual funds. 
Currently, Canadian mutual funds held in registered retirement plans, 
including registered retirement savings plans and registered retirement income 
funds, are exempt from PFIC reporting requirements. However, other registered 
plans, including registered education savings plans, registered disability 
savings plans and tax-free savings accounts, are not exempt. 
CI recommends that its U.S. taxpayer clients work with their financial advisor 
and a cross-border tax advisor to report their PFIC holdings correctly. 
About CI Investments - Canada's Investment Company
CI Investments is one of Canada's largest investment management companies. It 
offers a wide range of investment products and services, including an 
industry-leading selection of investment funds, and is on the Web at 
www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an 
independent, Canadian-owned wealth management firm with approximately $129 
billion in assets as of June 30, 2014.
 

SOURCE  CI Investments Inc. 
Murray Oxby Director, Communications CI Investments (416) 681-3254 moxby@ci.com 
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CO: CI Financial Corp.
ST: Ontario
NI: FIN FND FIN FND FLOWS  
-0- Jul/03/2014 18:04 GMT
 
 
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