Titan Medical Inc (TMDIF)

[investinthefuture]

Bristol19 and MX77...don't panic and go talk to your accountant. The reason that Titan issues the following statement annually is to give shareholders and their accountants the tools that they need to get the best tax treatment possible out of the stock:

http://www.titanmedicalinc.com/wp-content/uploads/2014/04/2014-PFIC-Annual-Information-Statement.pdf

Congress originally set up the PFIC rules in the 80s to deal with investors who were offshoring their investment dollars in companies that don't really do anything except make money through passive investments. Unfortunately this had the collateral damage of affecting companies like Titan that are in their startup phase...they don't make any money...they just spend money to get to the point where they make money. The intent of the law wasn't to affect companies like Titan, but it does and Congress hasn't fixed the problem for almost 30 years.

Read the above link closely and go show it to your accountant. The answers are in there. If your accountant looks at you with a blank stare when you show them the PFIC declaration and instructions, go find another accountant who has experience in dealing with foreign investments.