Yes, non-US pooled funds (e.g., ETFs, mutual funds, etc.) as well as most non-US pensions fall afoul of PFIC rules and their complex & expensive reporting requi

Yes, non-US pooled funds (e.g., ETFs, mutual funds, etc.) as well as most non-US pensions fall afoul of PFIC rules and their complex & expensive reporting requirements. This usually bites people with mandatory contributions, such as Australia's Superannuation.