Epstein File EFTA01389304: Holder, Endowment and Treat (DS10)

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⚡IMPACT LEVEL 3 — NOTEWORTHY

Epstein File EFTA01389304: Holder, Endowment and Treat (DS10)

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This document discusses tax implications of investing in a 'passive foreign investment company' (PFIC) through the Access Fund. It explains that a non-U.S. corporation can be classified as a PFIC if 75% or more of its gross income is passive income, which could result in increased tax liability for Limited Partners.

👤 Named in This Document

Eric Holder

🔑 Evidence Keywords

classified treat university endowment endowment

📋 Key Excerpts10

PersonKeyword

Excerpt 1

The Access Fund may invest in a non-U.S. corporation that is classified as a "passive foreign investment company" ("PFIC"), which would cause Limited Partners

Excerpt 2

In general, a non-U.S. corporation is classified as a PFIC if (i) 75% or more of its gross income constitutes "passive income" (generally, interest, dividends

Excerpt 3

If the Access Fund invests in a company that is classified as a PFIC, the Limited Partners may be subject to increased tax liability upon the Access Fund's