I am looking to better understand the implications to US taxes by investing in a Portugal GV fund. The best info I could find was https://www.irs.gov/instructions/i8621#idm140366309255696 but I could not make much sense of it. Most likely form 8621 would need to be submitted at the time of tax filling. Need to research further on Qualified Electing Fund. I also need to do further research to understand if any taxes are due during the investment period of a fund.
I do plan to discuss with a tax consultant. I am curious to know if anyone has already done some research on this and could share their findings.