Exchange Traded Funds

As the Exchange Traded Funds (ETFs) universe continues to grow and mature, we have committed increasing resources to this important segment of the investment industry. We train our practitioners focused on ETFs — from staff through partners — on the most critical areas related to complex accounting as well as tax planning and compliance. Our focused audit approach, coupled with timely and proactive communication, lead to an ongoing collaborative experience for our clients. Our intense training and background related to ETF-specific audit and tax issues range from assisting with the selection of the structure that best fits an ETF’s investment objectives, to various tax positions associated with the use of tax equalization and calculation of wash sale losses.

Client Profiles

Our representative client types include a variety of fund types and investment compositions:

  • Provider-sponsored series trusts
  • Multi-fund families
  • Newly established ETFs
  • Actively and passively managed ETFs
  • Wide variety of smart beta strategies
  • Controlled foreign corporation (CFC) ETFs
  • Portfolio compositions, asset classes and complex investments:
    • International equities and emerging markets ETFs
    • Long-short ETFs
    • Fixed income ETFs
    • High income pass-through ETFs
    • Commodity-based ETFs

Services

  • Comprehensive audit services
  • Tax return preparation or review for federal, state and excise tax requirements
  • Diversification and IRS compliance consulting
  • Tax consultation on fund structuring, including start-ups and mergers/reorganizations
  • Seed audit services for newly established funds
  • Review of annual excise dividend calculations
  • Review of semi-annual and N-Q filings
  • Review of post-effective amendments to registration statements (consent letter)
  • Rule 17f-1 and 17f-2 reviews
  • Agreed-upon procedures and other attest services