DianeW777
Employee Tax Expert

Get your taxes done using TurboTax

For purposes of making your data entry into TurboTax, if you own an Exchange Traded Funds (ETF) (not an exchange-traded note (ETN), or a commodity-ETF however), you can safely use the designation RIC for purposes of labeling the dividends for foreign tax credit purposes (and for completing Form 1116, the foreign tax credit form).

 

Most ETFs are registered with the SEC (Securities and Exchange Commission) as investment companies under the Investment Company Act of 1940.  And so, just like traditional open-end mutual funds, that makes them RICs (Registered Investment Companies) for legal and tax purposes.

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