MEUD (Amundi Stoxx Europe 600 UCITS ETF (Accumulating)) is a conventional Luxembourg-domiciled UCITS fund. Such funds commonly meet a §1297 passive-income or passive-asset test even when they track the STOXX Europe 600 (broad European equities); confirm the vehicle's structure and annual facts before filing Form 8621.
Because it is an accumulating share class it pays you nothing along the way, which makes the default §1291 treatment more expensive, not less.
No card · free draft · a CPA typically charges $1,200–$3,000+ for Form 8621 work; Atamatax is a flat $499.
If MEUD is confirmed as a PFIC, you may need a separate Form 8621. For supported inputs, Atamatax generates the official PDF with computed fields filled; review its notes and complete any remaining fields before filing outside Atamatax.
MEUD pays out nothing, so there may be no cash distribution to enter in a §1291 excess-distribution calculation while you hold. Separate annual Form 8621 reporting can still apply.
Mark-to-market (§1296) taxes the annual paper gain as ordinary income — and an accumulating fund sends you no cash to pay it with. Worth planning before you elect.
MEUD tracks the STOXX Europe 600 (broad European equities). For a US citizen living in Europe this is the natural fund to own and, thanks to PRIIPs rules that block US-domiciled ETFs from most European retail platforms, often the only one actually available.
That is the bind worth naming plainly: the regulation that may limit US ETF access in Europe is separate from the US PFIC regime. A conventional foreign pooled fund commonly meets §1297 through its passive income or assets; Form 8621 then depends on the holder-level reporting triggers and exceptions.
MEUD pays you nothing. The dividends from the underlying shares are reinvested inside the fund instead of hitting your account. Under the default §1291 rules, there may be no cash distribution to test as an excess distribution while you simply hold, while a later disposition can still trigger the allocation and interest-charge regime. Separate annual Form 8621 reporting can also apply during the holding period.
The whole bill then arrives at once. When you sell, the entire gain is allocated rateably across every day you owned MEUD; each prior year's slice is taxed at that year's highest ordinary rate, and an interest charge runs from each of those years through to the filing date. An accumulating share class is where §1291 does the most damage, because the longer you held quietly, the longer the interest has been running.
Two knock-ons worth planning around. A mark-to-market election under §1296 taxes the annual paper gain as ordinary income — but MEUD distributes no cash, so you have to fund that tax from somewhere else every year. And a QEF election under §1295 requires a PFIC Annual Information Statement from the fund; if Amundi does not produce one for this share class, QEF is not actually available to you no matter how much better it looks on paper.
Before treating QEF as a live option for MEUD, ask Amundi whether it issues a PFIC Annual Information Statement for US holders of this fund. §1295 makes it mandatory, and a European fund house has no regulatory obligation to produce one — so the answer is worth having in writing before you commit to an election.
MEUD is the Amundi Stoxx Europe 600 UCITS ETF (Accumulating), ISIN LU0908500753. Match the ticker — and the ISIN, where your statement shows one — to this line before reading the mechanics above as yours.
MEUD follows a STOXX index; no other European equity fund in this registry shares its wrapper and domicile, so there is no like-for-like sibling page to compare it with.
From one fund to the whole case
Four questions — how many funds, for how long, whether Forms 8621 were ever filed, whether the returns are current — and a route into the preparation that fits, with what it costs. Nothing you answer leaves this page.
Free, no account, nothing you answer leaves this page. Open the full portfolio scanner
A routing read, not a determination. Whether a fund is a PFIC, whether an exception applies and what a prior year needs are established when the holdings are screened; the route above says where that happens and what it costs.
This is a screening assessment based on published vehicle facts and the statutory tests—not a classification based on domicile alone, and not individualized tax, legal, or investment advice — see our methodology (IRC §1297 et seq.). Confirm your specific situation with a licensed professional.
Primary sources (Cornell Legal Information Institute for the US Code and CFR; IRS.gov for forms, procedures, and treaty documents). This page is general information, not individualized tax or legal advice.
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