Are PFICs held in an HSA subjected to reporting requirements and taxes?

[ccbrown90]

I have a question about the rules regarding Passive Foreign Investment Companies (PFICs). I understand that in taxable accounts, US persons are required to report all PFICs each year on Form 8621. However, when held in a tax-exempt account (such as an IRA), this requirement no longer applies as they will not be treated as a shareholder [according to IRS Notice 2014-28, Section 3: "Accordingly, the Treasury Department and the IRS will amend the definition of shareholder in the section 1291 regulations to provide that a U.S. person that owns stock of a PFIC through a tax exempt organization or account (as described in §1.1298- 1T(c)(1)) is not treated as a shareholder of the PFIC."] 

Does this apply to my HSA? Could I hold a foreign etf in my HSA and not have to worry about the PFIC reporting/tax requirements? I know that investments in HSAs are tax-exempt but I don't know if this type of vehicle qualifies, and I'm having trouble finding any information specific to HSAs.

Thank you!

[DaveF1006]

According to IRS rules, you would only be required to report if you were a shareholder or a stock holder. There are no reporting requirements if you have ETF or PFIC funding your HSA.