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30 Tips to Celebrate 30 Years of Investor Education

By Christina Kilroy

September 3, 2019

For 30 years, the ICI Education Foundation has pursued its mission to advance investor education by developing, delivering, and promoting investor education to diverse audiences across a range of ages and life stages—from middle school students to senior citizens, and from those new to the workforce to retirement savers.

Two of the foundation’s current partnerships reflect its history of reaching out to a range of audiences. With Junior Achievement, ICIEF brings investor education to 35,000 middle school students each year. And with the Robert Toigo Foundation, ICIEF supports its mission to foster the career advancement of underrepresented talent in the financial services industry.

Investing has changed significantly in the past 30 years, but the need for investor education has remained. As we kick off our celebration of the foundation’s anniversary in October, we will be sharing tips for successful investing—one tip for each of the foundation’s 30 years—on our social media accounts over the coming weeks.

Catch all the investing tips on Twitter at #30tipsfor30years.

Be sure to follow ICIEF on Twitter, LinkedIn, and Facebook for more investing insights, and find more resources on investing on the ICI Education Foundation website.

Christina Kilroy is vice president of the ICI Education Foundation.

Permalink: https://www.ici.org/viewpoints/19_view_icief30

TOPICS: 401(k)IRAInvestment EducationMutual FundSavingsTaxes

Mind the Gap

By Sarah Holden and Christina Kilroy

July 22, 2019

It’s a good idea to “mind the gap” if you’re traveling on the Tube in London, taking Amtrak in the United States, or riding Metro in Paris or Washington, DC. Being mindful of the space between where you are and where you’re going is important—not only when navigating public transit, but also when saving for retirement. Saving for retirement is a career-long process, with many decisions along the way....

Read more…

TOPICS: 401(k)IRAInvestment EducationMutual FundRetirement ResearchSavingsShareholderTaxes

It’s 5/29—Are You Taking Full Advantage of College Savings Opportunities?

By Sarah Holden and Christina Kilroy

May 29, 2019

Saving for an education is an important financial goal for millions of US households. In fact, nearly one-quarter of mutual fund–owning households indicate saving for educational expenses is one of their goals for their mutual fund investments. An increasingly popular way to save for college is through 529 plans, named for the section of the tax code that provides for their favorable tax treatment....

Read more…

TOPICS: Investment EducationSavingsTaxes

28 Trillion Smart Decisions

By Christina Kilroy

October 22, 2018

Have you ever done one small, smart thing that ended up making a huge difference in your future? I’m not talking about blind luck—like buying a ticket that turns out to be the winner in the (currently) $1.6 billion Mega Millions. No, I’m talking about small, smart decisions that can materially affect us later in life....

Read more…

TOPICS: Investment EducationMutual FundRetirement ResearchSavingsShareholderTaxes

Popular 529 Savings Plans Expand to Reach Students of All Ages

By Christina Kilroy

May 29, 2018

Today, on May 29—“5/29”—we mark 529 College Savings Day. Many people interested in saving for a child’s or grandchild’s future college costs are using targeted savings vehicles called 529 savings plans. The plans, which have grown in popularity over the past decade and a half as a way to save for a family member’s college expenses, may now also be used to cover tuition for elementary and secondary education....

Read more…

TOPICS: Investment EducationSavingsTaxes

A More Accurate Evaluation of Retirement Plan Participation

By Miriam Bridges

May 2, 2018

What’s the actual participation rate of Americans preparing for retirement through a workplace retirement plan? It’s an important question, and one that ICI economists Peter Brady and Steven Bass shed some light on in their new analysis of tax data, “Who Participates in Retirement Plans, 2014.”

The retirement plan participation rate—often used to evaluate the performance of the US voluntary employer plan system—understates the true scope and importance of these plans. In their careful analysis, Brady and Bass give two reasons for this understatement...

Read more…

TOPICS: Retirement PolicyRetirement ResearchSavingsTaxes

Invest in Your Future Through an IRA

By Christina Kilroy

March 13, 2018

Nearly 44 million US households invest and save for their future through individual retirement accounts (IRAs). If your household isn’t one, now is a great opportunity to join them. And if you are already saving in an IRA, there are some advantages that you may not be aware of—and that are worth knowing about as Tax Day approaches...

Read more…

TOPICS: Investment EducationMutual FundRetirement ResearchSavingsShareholderTaxes

States Are Abusing Abandoned-Property Funds to Plug Budget Shortfalls

By Tamara K. Salmon

January 11, 2018

Imagine finding out that your investment account has been turned over to your state because it was considered “abandoned.” Imagine, too, that after the account was turned over to the state, the account received a capital gains distribution. As a result, you are liable for paying the taxes on that distribution—and can be assessed monetary penalties for not paying the taxes in a timely fashion.

Read more…

TOPICS: Fund RegulationGovernment AffairsMutual FundRetirement PolicySavingsShareholderTaxes

Congress Must Spike “FIFO” for All Investors

By Paul Schott Stevens

December 8, 2017

As the House and Senate reconcile their differing versions of tax reform, one provision from the Senate’s bill should be deleted immediately. Tax reform must not impose an accounting system known as “first-in, first-out” (FIFO) that would deprive America’s investors of their long-standing ability to manage their finances for the greatest tax efficiency.

Read more…

TOPICS: Fund RegulationGovernment AffairsMutual FundRetirement PolicyTaxesTrading

Autumn Air, Playoff Baseball, and…National Retirement Security Week

By Christina Kilroy

October 17, 2017

The baseball postseason is well underway and the air has finally turned crisp. Perhaps that’s why—as we’re marking National Retirement Security Week—our thoughts have turned to the words of Yogi Berra, the great New York Yankees catcher. He was credited with so many pithy, wise, and witty sayings that, in classic Berra style, he remarked, “I really didn't say everything I said.”

Read more…

TOPICS: 401(k)Investment EducationMutual FundSavingsShareholderTaxes

Ten Years After the PPA, the Path to Retirement Saving Is Easier

By Sarah Holden and Elena Barone Chism

August 22, 2016

Ten years ago, on August 17, 2006, President George W. Bush signed the Pension Protection Act (PPA) into law, with the goal of ensuring greater retirement security for American workers. With regard to defined contribution (DC) plans, such as 401(k) plans, PPA further encouraged automatic enrollment while paving the way for diversified default investments and the creation of Roth accounts inside DC plans. PPA also made permanent previously legislated contribution-limit increases and the saver’s credit.

Read more…

TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes

When Investor Protection Becomes Protectionism

By Patrice Bergé-Vincent

June 14, 2016

Today, Europe is facing two related needs: to provide its citizens with efficient, lower-cost vehicles for savings and investment, and to bolster economic growth.

Read more…

TOPICS: EuropeFinancial MarketsFund RegulationICI GlobalInternationalMutual FundTaxes

Three Reasons Why You Should Consider an IRA

By Sarah Holden

March 8, 2016

April 18 is the deadline to file income tax returns with the federal government this year.

Read more…

TOPICS: Investment EducationMutual FundSavingsTaxes

How America Supports Retirement: The Incentive to Save Is Not Upside Down

By Peter J. Brady

February 25, 2016

In my new book, How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits, and the first three ICI Viewpoints in this series, I’ve demonstrated that Social Security’s benefit formula drives participation in tax-deferred employer-sponsored retirement plans ; that the full system of government support for retirement is progressive; and that those in higher tax brackets don’t enjoy greater “bang for their buck” from tax deferral.

Read more…

TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes

How America Supports Retirement: What Do Tax Rates Have to Do with the Benefits of Tax Deferral? Less Than You Think

By Peter J. Brady

February 24, 2016

In my new book, How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits, I set out to gain a comprehensive view of how government policy supports American workers as they gather resources for retirement.

Read more…

TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes

How America Supports Retirement: No, Benefits Are Not “Tilted” to the Higher Earners

By Peter J. Brady

February 23, 2016

Second in a series of ICI Viewpoints.

In my new book, How America Supports Retirement: Challenging the Conventional Wisdom on Who Benefits, I analyze the benefits individuals receive from the major government policies that help American workers accumulate resources for retirement: Social Security and tax deferral on compensation set aside for retirement in employer-based plans (both traditional pensions and defined contribution plans, such as 401(k) plans).

Read more…

TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes

How America Supports Retirement: Tackling the Myths That Surround Us

By Peter J. Brady

February 22, 2016

America’s retirement system isn’t perfect but it’s a lot stronger than many people think. Whether by accident or design, the U.S. retirement system provides benefits to workers across the earnings distribution and has helped millions of retirees maintain their standard of living in retirement.

Read more…

TOPICS: 401(k)Government AffairsInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchTaxes

All Pain and No Gain for Fund Investors

By Paul Schott Stevens

February 5, 2016

The following is a letter submitted to the editor of the New York Times. A financial transaction tax (FTT) (editorial, The Need for a Tax on Financial Trading, Jan. 28) is a terrible idea that would harm all investors, especially American workers saving for retirement. We have yet to see an FTT proposal that would not hurt Main Street nor weaken our capital markets.

Read more…

TOPICS: Financial MarketsMutual FundOperations and TechnologyShareholderTaxesTrading

Statement of the Investment Company Institute at Senate Finance Committee Hearing on “Retirement Savings 2.0: Updating Savings Policy for the Modern Economy”

By Brian Reid

September 16, 2014

This statement was given on behalf of ICI by Brian Reid, chief economist, at the Senate Finance Committee’s hearing on “Retirement Savings 2.0: Updating Savings Policy for the Modern Economy.” For more information, see ICI’s full written testimony.

Read more…

TOPICS: 401(k)Government AffairsInvestor ResearchMutual FundRetirement PolicyRetirement ResearchSavingsTaxes

Happy Birthday ERISA! Congratulations on 40 Years

By Sarah Holden and Elena Barone Chism

September 2, 2014

Today marks the 40th birthday of the Employee Retirement Income Security Act (ERISA). Signed into law on September 2, 1974, ERISA introduced bold steps to safeguard Americans’ employer-sponsored pensions and created the individual retirement account (IRA). Assets earmarked for retirement totaled $0.4 trillion at year-end 1974 (see the figure below). At this modest start, private-sector defined benefit (DB) plans accounted for 35 percent of the total; federal, state, and local plans for 34 percent; private-sector defined contribution (DC) plans for 17 percent; annuities for 13 percent; and there was a mere glimmer of IRA assets by year-end. Currently, total U.S. retirement assets are $23.0 trillion, and their composition has shifted considerably over the past 40 years.

Read more…

TOPICS: 401(k)Fixed IncomeGovernment AffairsInvestment EducationInvestor ResearchPolicy ResearchRetirement PolicyRetirement ResearchSavingsTaxesTreasury

Washington: Put Your (Retirement) Money Where Your Mouth Is

By Mike McNamee

March 4, 2014

When President Obama announced a new effort to expand access to retirement savings opportunities, ICI was among the first to applaud. The Administration’s “myRA” looks to provide a new option for Americans who want to put money aside for retirement, but who might not have access to a retirement plan through their workplace. These accounts would complement the wide array of investment options already available to these workers.

Read more…

TOPICS: 401(k)Government AffairsInvestment EducationRetirement PolicySavingsTaxes

A Growing Urgency: FATCA Agreements in the Asia-Pacific Region

By Keith Lawson

February 21, 2014

Questions are swirling as the 1 July 2014 effective date for the US Foreign Account Tax Compliance Act (FATCA) draws closer.

Read more…

TOPICS: Government AffairsICI GlobalInternationalTaxes

Creating a Globally Workable Compliance Framework for Financial Account Tax Information

By Keith Lawson

February 13, 2014

By developing a global standard for collecting customer information from financial institutions and exchanging that information between governmental taxing authorities worldwide, the Organisation for Economic Co-operation and Development (OECD) has taken an important step to enhance tax compliance. This common reporting standard (CRS) for the automatic exchange of information (AEOI), which was announced by the OECD on 13 February 2014, will be presented to the G20 at their 22–23 February 2014 meeting in Sydney.

Read more…

TOPICS: Government AffairsICI GlobalInternationalTaxes

America’s Retirement System Is Strong

By Sarah Holden

December 18, 2013

One year ago, ICI released its landmark study, The Success of the U.S. Retirement System, a compilation of research from a wide range of sources, which found that the country’s retirement system is fostering economic security in retirement for Americans across all income levels.

Read more…

TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes

ICI’s Guide to Avoiding a Common 401(k) Tax Trap

By Mike McNamee

December 9, 2013

A tax trap for retirement savings is catching many smart people unaware. If allowed to go unchecked, it could harm the retirement savings of millions of Americans. A columnist for the Washington Post was just the latest in a long list of victims. 

Read more…

TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes

Revenue Estimates of Restricting Tax Deferral: It Ain’t Necessarily So

By Peter Brady

September 20, 2013

Fifth in a series of posts about retirement plans and the policy proposals surrounding them.

In previous Viewpoints posts, I explained that retirement contributions are neither tax deductions nor tax exclusions, but rather are tax deferrals. I also explained why, in my opinion, the two most prominent proposals to restrict qualified deferred compensation are flawed (post three and post four).

Read more…

TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes

Tax Reforms Should Not Favor DB Plans over DC Plans

By Peter Brady

September 19, 2013

Fourth in a series of posts about retirement plans and the policy proposals surrounding them.

In The Tax Benefits and Revenue Costs of Tax Deferral and in two previous Viewpoints posts (post one and post two), I explained the benefits that workers get from deferring tax on compensation set aside for retirement.

Read more…

TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes

A ‘Modest’ Proposal That Isn’t: Limiting the Up-Front Benefits of Retirement Contributions

By Peter Brady

September 18, 2013

Third in a series of posts about retirement plans and the policy proposals surrounding them.

In two previous Viewpoints posts (post one and post two), I explained the benefits that workers get from deferring tax on compensation set aside for retirement. 

Read more…

TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes

Marginal Tax Rates and the Benefits of Tax Deferral

By Peter Brady

September 17, 2013

Second in a series of posts about retirement plans and the policy proposals surrounding them.

In a previous Viewpoints post, I discussed the difference between tax deferral—the tax treatment applied to retirement savings—and tax deductions and exclusions, such as the mortgage interest deduction or the exclusion of employer-paid health insurance premiums from income. The difference is often overlooked or misunderstood, leading to inaccurate analysis and harmful policy proposals.

Read more…

TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes

Retirement Plan Contributions Are Tax-Deferred—Not Tax-Free

By Peter Brady

September 16, 2013

First in a series of posts about retirement plans and the policy proposals surrounding them.

In today’s fiscal and political climate, taxes are never far from politicians’ minds. Whether to achieve comprehensive tax reform or to raise revenue to meet budget deficits, members of Congress are now considering changes to a range of tax code provisions—including those governing retirement policy. Any comprehensive effort to address fiscal policy or tax reform should examine every option, but some discussions of retirement policy have been misguided. The tax treatment of retirement savings—tax deferral— too often has been lumped together with tax deductions (such as the deduction from income of mortgage interest expense) and tax exclusions (such as the exclusion from income of employer-provided health insurance premiums).

Read more…

TOPICS: 401(k)Investment EducationMutual FundRetirement PolicySavingsShareholderTaxes

A Step in the Right Direction on FTTs

By Keith Lawson

September 10, 2013

In a noteworthy development for anyone following the debate around financial transaction taxes (FTTs), the Council of the European Union Legal Service has issued a legal opinion regarding the FTT proposal under consideration by some EU member countries.

Read more…

TOPICS: ICI GlobalTaxes

FTT Would Shut Financial Institutions in Participating Countries Out of Repo Market

By Shelly Antoniewicz and Peter Brady

April 22, 2013

The European Commission has proposed imposing a 0.1 percent (10 basis points) levy on financial transactions. As ICI has detailed, this financial transaction tax (FTT) would have a host of negative consequences, including harm to investors and extraterritoriality.

Read more…

TOPICS: ICI GlobalMoney Market FundsTaxes

The Extraordinarily Extraterritorial Proposal to Tax Global Financial Transactions

By Keith Lawson

April 10, 2013

The financial transaction tax (FTT) being considered by several European countries would have an extraordinary extraterritorial effect.

Read more…

TOPICS: ICI GlobalTaxes

Individual Investors Will Be Harmed by Financial Transaction Taxes

By Keith Lawson

March 27, 2013

A fundamental tenet of the argument for a financial transaction taxes (FTTs) is that individuals would not be harmed.

Read more…

TOPICS: ICI GlobalTaxes

ICI Global Welcomes Improvements in Final FATCA Regulations

By Ianthe Zabel

January 18, 2013

Read more…

TOPICS: InternationalTaxes

In Case You Missed It: “Don't Enact Financial Transaction Taxes”

By Ianthé Zabel

December 21, 2012

The Hill has just posted a commentary from ICI President and CEO Paul Schott Stevens in which he discusses financial transaction taxes (FTTs) and why U.S. policymakers would be well-advised to avoid enacting them.

Read more…

TOPICS: Financial MarketsGovernment AffairsTaxes

Fund Industry Leaders Urge “Sustainable Course” for U.S. Finances

By Mike McNamee

December 18, 2012

For the good of investors and all Americans, leaders across the fund industry have been outspoken about the necessity of the U.S. government taking a sound and sustainable approach to its finances.

Read more…

TOPICS: Financial MarketsTaxes

ICI Supports Legislation to Shield U.S. Investors from Foreign Financial Taxes

By Ianthé Zabel

November 30, 2012

ICI issued the following statement in support of H.R. 6616, a bill introduced by Representative Tom Price (R-GA) and designed to protect American investors from the application of extraterritorial financial transaction taxes.

Read more…

TOPICS: Financial MarketsGovernment AffairsTaxes

FATCA Must Not Undercut the Advantages That U.S. ETFs Offer Global Investors

By Keith Lawson and Ryan Lovin

November 6, 2012

In recent months, ICI has continued to engage closely with regulators to share our concerns and suggestions for implementing the Foreign Account Tax Compliance Act (FATCA).

Read more…

TOPICS: ICI GlobalTaxes

More Time Is Needed to Ensure Effective FATCA Implementation

By Keith Lawson

November 6, 2012

On January 1, 2013, various rules implementing the Foreign Account Tax Compliance Act (FATCA) begin to take effect.

Read more…

TOPICS: ICI GlobalTaxes

Transparency and Inclusiveness Are Key to Addressing FATCA Challenges

By Keith Lawson

October 3, 2012

U.S. officials, their counterparts overseas, and representatives from the private sector continue to make impressive headway in implementing the Foreign Account Tax Compliance Act (FATCA).

Read more…

TOPICS: ICI GlobalTaxes

Regulators and Industry Exchange FATCA Insights at ICI and ICI Global Webinar

By Keith Lawson

August 30, 2012

Senior officials from the U.S. Treasury Department and the Organization for Economic Cooperation and Development (OECD), along with industry experts, recently engaged in a very informative webinar discussion regarding a model intergovernmental agreement (IGA) for implementing the Foreign Account Tax Compliance Act (FATCA). The model IGA, as discussed in an earlier ICI Viewpoints post, was developed by the Treasury Department with the active cooperation of senior tax officials from France, Germany, Italy, Spain, and the United Kingdom.

Read more…

TOPICS: ICI GlobalTaxes

How the Model Intergovernmental Agreement Reduces FATCA Burdens

By Keith Lawson

August 1, 2012

The U.S. Treasury Department has made significant progress with its July 26 release of a model intergovernmental agreement (IGA) for implementing the Foreign Account Tax Compliance Act (FATCA). This model IGA—developed with the active cooperation of senior tax officials from France, Germany, Italy, Spain, and the United Kingdom—addresses many of the U.S. and global fund industries’ concerns with the substantial compliance burdens placed by FATCA on funds, their distributors, and their investors. ICI and ICI Global applaud this development and look forward to continuing our dialogue with these governments on the FATCA regulations and the IGAs they craft based on the model.

Read more…

TOPICS: ICI GlobalTaxes

FATCA’s Challenges for Global Investment Funds

By Keith Lawson

May 30, 2012

The rules proposed to implement the Foreign Account Tax Compliance Act (FATCA) pose a number of serious challenges for ICI Global members. ICI Global’s recent comment letter to the U.S. Department of the Treasury and the Internal Revenue Service (IRS) made several recommendations on how the FATCA rules should be amended so that ICI Global’s members—regulated funds that are publicly offered to investors in leading jurisdictions worldwide—can overcome these challenges without compromising the tax compliance benefits contemplated by FATCA.

Read more…

TOPICS: ICI GlobalTaxes

Improving FATCA: Three Key Areas

By Keith Lawson

May 30, 2012

Congress enacted the Foreign Account Tax Compliance Act (FATCA) in 2010 in response to efforts by certain U.S. taxpayers to hide assets and income subject to U.S. tax. To enhance tax compliance by U.S. taxpayers, FATCA imposes significant new customer identification, reporting, and withholding obligations on both U.S. and foreign financial institutions. Any foreign financial institution that fails to attain FATCA compliance will suffer 30 percent withholding tax on all payments from U.S. sources, including income receipts and sales proceeds.

Read more…

TOPICS: Taxes

Achieving the Proper Balance on FATCA

By Keith Lawson

February 8, 2012

ICI and ICI Global have engaged actively with Treasury and the Internal Revenue Service (IRS) as they have crafted the proposed Foreign Account Tax Compliance Act (FATCA) regulations, which were issued today. Our message has been simple: ensure that the tax compliance benefits anticipated by FATCA, which we support strongly, justify the costs that will be imposed.

Read more…

TOPICS: Taxes

Fund Investment in Commodities Provides Opportunity and Diversification for Investors

By Karen Lau Gibian and Rachel H. Graham

January 26, 2012

On Capitol Hill, a hearing at the Permanent Subcommittee on Investigations (PSI) raises questions about mutual fund investors’ ability to get commodity exposure in their portfolios and suggests the Internal Revenue Service (IRS) should no longer allow this type of investment.

Read more…

TOPICS: Commodity InvestmentsFinancial MarketsFund RegulationTaxes

Now Is the Time to Put America on a Path of Fiscal Responsibility

By Paul Schott Stevens

November 21, 2011

On behalf of funds and the 90 million investors that they serve, fund industry leaders are sending a simple but urgent message to Congress and the White House: the time has arrived to put America’s fiscal house in order.

Thirty executives of companies represented on ICI’s Board of Governors, the chair of the Independent Directors Council, and I are joining together to send a letter to the co-chairs of the Joint Select Committee on Deficit Reduction—known as the “Super Committee”—every other member of Congress, and the President.

Read more…

TOPICS: Financial MarketsTaxes

Changes to Cost Basis Rules Provide Investors More Flexibility

By Karen Lau Gibian

August 26, 2011

In a positive development for fund shareholders, the Department of the Treasury and the Internal Revenue Service have issued new cost basis reporting rules that enhance a fund’s ability to provide shareholders with average cost basis information. Fund shareholders have become quite familiar with average cost basis information, which many funds have been providing to their shareholders voluntarily for 20 years or more. The regulatory change makes it more likely that funds will continue to use this method as their default method for redeemed shares.

Read more…

TOPICS: Taxes

Cracking Down on Tax Evaders Without Cracking Up U.S. Capital Markets

By Keith Lawson

June 15, 2011

The Foreign Account Tax Compliance Act (FATCA) is a law designed to ensure that U.S. persons holding assets through accounts in foreign financial institutions comply with their U.S. tax obligations. In other words, the law aims to crack down on tax evasion through offshore investments. It is set to apply to payments made beginning January 1, 2013.

Read more…

TOPICS: InternationalTaxes

ICI Urges Change in Cost Basis Rules to Avoid Harm to Fund Investors

By Karen Lau Gibian

January 13, 2011

A provision in the new cost basis rules could hurt fund investors. We recently contacted the Internal Revenue Service (IRS) and the U.S. Department of the Treasury, urging them to amend the rules to avoid this outcome.

Read more…

TOPICS: Taxes

New Law Will Make Funds More Efficient and Reduce Need for Amended Tax Returns

By Ianthe Zabel

December 23, 2010

ICI President and CEO Paul Schott Stevens made the following statement upon the enactment of H.R. 4337, a bill that updates and simplifies a number of mutual fund tax rules...

Read more…

TOPICS: Government AffairsTaxes

ICI Supports House Vote on Bill to Update Mutual Fund Tax Laws

By Ianthe Zabel

December 17, 2010

ICI President and CEO Paul Schott Stevens made the following statement about recent U.S. House of Representatives approval of H.R. 4337, as amended and approved by the U.S. Senate. 

Read more…

TOPICS: Government AffairsTaxes

Enactment of Tax Bill Extending Current Tax Rates on Investments Comes at Critical Time and Brings Certainty

By Ianthe Zabel

December 17, 2010

ICI President and CEO Paul Schott Stevens today issued the following statement on enactment of a tax bill that will maintain and extend the current tax rates on capital gains and dividends for two years...

Read more…

TOPICS: Government AffairsTaxes

ICI Applauds Senate Approval of Bill to Modernize Mutual Fund Tax Laws

By Ianthe Zabel

December 9, 2010

ICI President and CEO Paul Schott Stevens made the following statement about recent U.S. Senate approval of H.R. 4337.

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TOPICS: Government AffairsTaxes

Fund Investors, Economy Will Benefit From Certainty and Lower Tax Rates on Investments

By Ianthe Zabel

December 9, 2010

ICI President and CEO Paul Schott Stevens today issued the following statement on the tax legislation, H.R. 4853 as amended, approved by the U.S. Senate in a strong bipartisan vote. 

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TOPICS: Government AffairsTaxes

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