3484341
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Yes, this is correct. Employer contributions to a Central Provident Fund (CPF) are taxable upon distribution in the U.S. under Section 402(b) of the Internal Revenue Code. In addition, all earnings are taxable.
I also want to add:
if earning is obtained through selling stock or dividend, then you will need 8621.
The computation is painfully difficult.
So, i encourage to sell it ASAP.
The Central Provident Fund (CPF) is a mandatory social security savings scheme in Singapore, primarily designed to help residents save for retirement, healthcare, and housing. It is not typically classified as a Passive Foreign Investment Company (PFIC) or a Qualified Electing Fund (QEF) under U.S. tax law and shouldn't require an 8621 even if there is stock trading within the fund.
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