This PFIC reporting and punitive taxation is driving me to emigrate. I inherited shares in my father's company in Canada. Now rather than bringing all that money to the US i will have to emigrate back to Canada to avoid such punitive filing and taxation. It makes no sense. You want peoople to bring money here. There must be a better way of preventing offshore hiding of assets, than hurting us all and discouraging foreigners to invest cross border.