Foreign Investment Health Insurance in Malaysia & US Tax | US International Tax Lawyer

Hello and welcome to Sherayzen Law Office video blog. My name is Eugene Sherayzen and I’m an International tax attorney and owner of Sherayzen Law Office, Ltd.

Today, I’m continuing my series of blogs from Santa Monica, California. The main theme from my blogs from Santa Monica is about US citizens who live outside of the United States. In the previous blog, I discussed the issue of foreign pension compliance and the dangers that these assets can bring to you.

Today, I’d like to discuss a different issue, probably somewhat unexpected for many US taxpayers – the issue of investment health insurance policies. These are extremely rare but they do exist. For example, in Malaysia. In Malaysia, they have investment health insurance policies; basically, a health insurance policy where part of your premium is being invested in PFICs (in a previous blog, I’ve already discussed what a PFIC is). As you need to cover your health costs, these investments are sold realizing for US tax purposes: PFIC gains and PFIC losses. The compliance concerning foreign investment health insurance policies can be extremely complex.

If you would like to learn more about it, you can contact me at (952) 500-8159 or you can email me: [email protected]

Thank you for watching, until the next time.