Method and sources
IncomeGrid lists income investments – US Treasuries, agency and municipal bonds, company and foreign government bonds, bond funds, money-market funds, REITs and filed private offerings – and ranks them by yield after tax for where you live. Open IncomeGrid.
Methodology at a glance
Data sources and dates
Rates updated Sep 28, 2026. Each public source we use, with the date of its latest data (details in the tables further down):
- U.S. Treasury – Daily Par Yield Curve & Real Yield Curve Rates – 2026-09-28
- ECB Data Portal – yield curve, €STR, euro reference rates – 2026-09-28
- Bank of England Database – Bank Rate, gilt zero-coupon yields – 2026-09-25
- FRED – SOFR (Federal Reserve Bank of New York via FRED) – 2026-09-25
- U.S. Treasury Fiscal Data – MSPD Table 3 (Marketable securities) – 2026-08-31
- SEC EDGAR – Form N-PORT (public portfolio holdings) + company_tickers_mf.json – 2026-07-31
- SEC – Mutual Fund Prospectus Risk/Return Summary data sets (expense ratios) – 2026q2
- Individual bonds from SEC N-PORT holdings of US bond ETFs (curve-adjusted) – 2026-07-31
- SEC DERA – Form N-MFP data sets (money market funds) – 2026-08-31
- ESMA FIRDS – Financial Instruments Reference Data (bond denominations) – 2026-09-28
- SEC DERA Form N-PORT data set – individual municipal bonds (fund valuations) – 2026-04-30
- SEC EDGAR XBRL company facts – REIT dividends per share – 2026-09-28
- TreasuryDirect – Series I and EE savings bond rates (published rates) – 2026-09-28
- IEX HIST (TOPS) – last regular-session IEX trade – 2026-09-25
Tax assumptions
Places you can choose: 50 US states plus the District of Columbia, and Canada, United Kingdom, Israel, Germany, Netherlands. Until you choose an income, we assume:
- US: federal 24% (2026 single-filer bracket) plus your state's rate at the same income. Picking an income band changes both.
- Canada: federal 20.5% at C$75,000 taxable income. Pick a province to add provincial tax; pick another income to change both.
- United Kingdom: 40%
- Israel: 25%
- Germany: 26.38%
- Netherlands: see the tax-rules table below
Tax figures are estimates from general published rules for each place, not tax advice.
Risk levels (1–5)
Who pays you back: 1 = the US government (Treasuries, savings bonds, government money-market funds, Treasury funds); 2 = US agencies, other money-market funds, or a fund with a market spread below 1%; 3 = spread 1% to 2.5% (single bonds: 1% to 2%); 4 = spread 2.5% to 5% (single bonds: 2% to 5%), and real-estate shares; 5 = spread 5% or more, distressed bonds, or a yield of 12% or more. The spread is the extra yield over US Treasuries of similar maturity. We hold no credit ratings, so: single company bonds and bonds of governments other than the US (and their state-owned companies) are at least 3; single bonds paying 2 percentage points or more over Treasuries are at least 4, a cautious stand-in for “below investment grade”; and bonds of issuers based in emerging markets (any country outside MSCI's developed-markets list, 2026 review) are at least 4. Issuers registered in offshore centres such as the Cayman Islands, Bermuda or Luxembourg get no country rule, because the registration says little about where the business is; the spread rule still applies. Municipal bonds have no comparable spread, so their yield is used: below 4% = 2, below 5% = 3, below 6.5% = 4, otherwise 5; bonds from US territories (Puerto Rico, Guam, US Virgin Islands, American Samoa, Northern Mariana Islands) are at least 4. Bonds of governments whose own bonds pay 3 percentage points or more over US Treasuries (our stand-in for a below-investment-grade rating; we hold no ratings), and company bonds from those countries, are level 5.
Unusual yields
“Worth a closer look” tag: we compare each item's yield before tax (after-tax figures differ between items for tax reasons alone, e.g. in-state municipal bonds) with other items of the same type at the same risk level in your view. It is tagged when it is at least 1.5 times the group's middle value and also more than 4 robust deviations above it (4 × 1.4826 × the median absolute deviation). Groups with fewer than 20 items are compared with the same type at this and the neighbouring risk levels (still fewer than 20: not tested). Distressed bonds and yields of 12% or more carry the same tag. Tagged items are never hidden; they are listed after the others.
Examples on the first page
Picked by a fixed rule by the same engine and data as the list, never by hand, for five US states (California, Texas, New York, Florida, Illinois), each at its default income: the 3 highest after-tax yields at risk 4, the 2 highest at risk 5 and the 2 highest at risk 3, leaving out items tagged for an unusual yield. To vary the set: at most 2 items of one type, each issuer once, each state at most twice. Each item shows its risk level. The set changes with the data date. Examples only.
Money back
Money back: single bonds are listed when they mature within the time you chose (maturity from our data); funds, ETFs, real-estate shares and money-market funds can be sold on any trading day, so they are listed for every choice – their price can move. Items without a maturity in our data are listed only under “Any”.
What's inside
- 50,966 investments in our data, of 9 types: Treasuries, company bonds, municipal bonds, agency bonds, foreign-government bonds in dollars, US savings bonds, bond funds, money-market funds and listed real-estate companies (REITs). 41,478 are shown by default. Not shown unless you change the filters: 7,849 not in US dollars, 1,442 distressed (price under 70 or yield over 12%), 19 more whose issuer is in default or bankruptcy proceedings, 75 restricted to institutional buyers (144A), 93 longer than 40 years and 10 funds based outside the US. Left out of this build because the data is too old or undated: 4 funds with no data date and 140 priced from fund reports older than 185 days.
- Taxes are calculated for all 50 states and DC (federal and state tax), plus investors outside the US (US withholding tax and home-country tax). Special municipal-bond rules are applied for 9 states and for territory bonds.
- Each yield is turned into what you keep after these taxes, per year. It is shown in US dollars, or in CAD, GBP, EUR and ILS (currency-hedged estimate).
- Data: U.S. Treasury yield curve (as of 2026-09-28); SEC fund reports (holdings as of 2026-07-31); SEC money-market fund reports (as of 2026-08-31); U.S. Treasury list of its securities (as of 2026-08-31); exchange rates (as of 2026-09-28).
- Each item shows the date of its own price or yield.
Data sources & licences
| Source | Data as of | Credit |
|---|---|---|
| U.S. Treasury – Daily Par Yield Curve & Real Yield Curve Rates | Sep 28, 2026 | Source: U.S. Department of the Treasury, daily par & real yield curves. |
| ECB Data Portal – yield curve, €STR, euro reference rates | Sep 28, 2026 | Source: ECB statistics. |
| Bank of England Database – Bank Rate, gilt zero-coupon yields | Sep 25, 2026 | Source: Bank of England (Open Government Licence v3.0). |
| FRED – SOFR (Federal Reserve Bank of New York via FRED) | Sep 25, 2026 | Source: Federal Reserve Bank of New York (SOFR) via FRED. Only Fed-owned series are used. |
| U.S. Treasury Fiscal Data – MSPD Table 3 (Marketable securities) | Aug 31, 2026 | Source: U.S. Treasury, Fiscal Data (MSPD). Not endorsed by the U.S. Treasury. |
| SEC EDGAR – Form N-PORT (public portfolio holdings) + company_tickers_mf.json | Jul 31, 2026 | Source: SEC EDGAR, Form N-PORT (public portion). Computed by us; not the funds' official yields. |
| SEC – Mutual Fund Prospectus Risk/Return Summary data sets (expense ratios) | 2026q2 | Source: SEC Mutual Fund Prospectus Risk/Return Summary data sets. |
| Individual bonds from SEC N-PORT holdings of US bond ETFs (curve-adjusted) | Jul 31, 2026 | Source: SEC EDGAR N-PORT holdings (fund valuations), curve-adjusted by us. |
| SEC DERA – Form N-MFP data sets (money market funds) | Aug 31, 2026 | Source: SEC DERA, Form N-MFP data sets (as filed). 7-day net yields and minimum investments as reported by the funds. |
| FDIC – National Rates and Rate Caps | Sep 21, 2026 | Source: FDIC, National Rates and Rate Caps (national averages; underlying data S&P Capital IQ Pro, calculations FDIC). |
| ESMA FIRDS – Financial Instruments Reference Data (bond denominations) | Sep 28, 2026 | Source: ESMA FIRDS reference data (esma.europa.eu). |
| Euronext – delayed/EOD bond prices (Paris, Amsterdam, Brussels, Lisbon, Milan/MOT, Dublin, Oslo) | Sep 25, 2026 | Euronext – delayed/EOD bond prices (Paris, Amsterdam, Brussels, Lisbon, Milan/MOT, Dublin, Oslo) (not licensed yet – SAMPLE data only) |
| Börse Frankfurt – delayed bond quotes & EOD (Deutsche Börse) | Sep 25, 2026 | Börse Frankfurt – delayed bond quotes & EOD (Deutsche Börse) (not licensed yet – SAMPLE data only) |
| Cbonds – global/EM bond reference data & EOD valuations | Sep 25, 2026 | Cbonds – global/EM bond reference data & EOD valuations (not licensed yet – SAMPLE data only) |
| FINRA TRACE via a licensed vendor – US corporate bond trades (delayed/EOD) | Sep 25, 2026 | FINRA TRACE via a licensed vendor – US corporate bond trades (delayed/EOD) (not licensed yet – SAMPLE data only) |
| UK consolidated tape for bonds (ETS Connect) – post-trade, delayed | Sep 25, 2026 | UK consolidated tape for bonds (ETS Connect) – post-trade, delayed (not licensed yet – SAMPLE data only) |
| SEC DERA Form N-PORT data set – individual municipal bonds (fund valuations) | Apr 30, 2026 | Source: SEC Form N-PORT data sets (public). Yields computed by us from funds' reported valuations; not quotes, not EMMA data. |
| SEC EDGAR XBRL company facts – REIT dividends per share | Sep 28, 2026 | Source: SEC EDGAR XBRL (company filings). Trailing dividends computed by us. |
| TreasuryDirect – Series I and EE savings bond rates (published rates) | Sep 28, 2026 | Source: TreasuryDirect (U.S. Department of the Treasury), published savings bond rates. |
| IEX HIST (TOPS) – last regular-session IEX trade | Sep 25, 2026 | Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use (https://www.iex.io/legal/hist-data-terms). IEX-only trades, not the consolidated close. |
Method (short)
- US Treasuries: official list from Fiscal Data (MSPD); yield = U.S. Treasury par (or real, for TIPS) curve at the security's remaining maturity – an estimate, not a quote.
- US bond ETFs: we compute the value-weighted yield-to-maturity of each fund's holdings from its latest public SEC N-PORT filing (quarterly, ~60-day lag), then add the change in the matching government curve since the report date at the fund's duration (spreads held constant), and subtract the SEC-filed net expense ratio. Not the fund's official SEC yield.
- Individual corporate / EM bonds: fund valuations (value ÷ par) from N-PORT, deduplicated by ISIN; YTM at the report date + government-curve change to today. Credit bucket = which kind of ETF holds the bond (proxy, not a rating). Minimum lot from ESMA FIRDS when available.
- UCITS ETFs: official curve at the index's typical maturity, or the US-listed analogue's estimate; before fund fees (issuer TER data not licensed). ISINs to be verified before launch.
- Net after tax: residence rule (see table in ARCHITECTURE.md), withholding with foreign tax credit, annual accrual, no deferral; NL box 3 = 6.00% deemed return × 36% on value. Hedged figure adds the 3-month rate differential (after tax). ILS/CAD: no licensed short-rate source in the public build → hedged ILS/CAD shown as n/a.
- Money-market funds: SEC Form N-MFP monthly data set (as filed): 7-day net yield on the last reported day of the month, fund category (government / prime / tax-exempt), minimum initial investment of the selected share class, holdings mix. Universe: classes with a filed minimum ≤ $10,000, one class per fund, largest by class assets (internal/institutional vehicles excluded by name). State exemption = share of direct US Treasury debt (repo and agency debt not counted).
- FDIC national-average bank-rate rows are removed from this build until reuse rights are confirmed (FDIC_BENCHMARK=false); the bank line in 'Compare' uses the rate you enter.
- US state tax: official state revenue-department brackets (single filer; per-state source and tax year in the table below), highest bracket by default; Treasury interest exempt (31 USC 3124); funds: US-Treasury share exempt (proportional) or only if ≥50% (CA/CT/NY rule, uncertain); national muni funds assumed state-taxable, single-state muni funds exempt only in their state (uncertain). Local taxes not included. State tax depends on where you legally live, not where your broker is.
- Non-US residents: US tax 0% on Treasury and portfolio-interest bond interest; US fund distributions withheld at the treaty dividend rate unless interest-related dividends are designated (fund-dependent, uncertain); US-domiciled funds are US-situs for estate tax (>$60k); home-country tax in addition, with credit for US withholding. EU/UK retail: US ETFs/MMFs generally not offered (PRIIPs / not recognised) – hidden unless 'show not generally available' is ticked. CLO, securitized and emerging-market bond funds: whether their payouts count as US 'interest-related dividends' for non-residents is uncertain, so US withholding is kept (conservative).
- Also shown: AAA/BBB CLO, securitized, agency mortgage-backed, taxable municipal, ultra-short and set-end-date bond funds (SEC N-PORT, same method as other funds; mortgage-backed yields run to final maturity with no prepayment model, likely understated); single FHLB / FFCB agency bonds (N-PORT fund valuations; yield to maturity, no call data; interest exempt from state tax, 12 U.S.C. §1433 / §2134); US savings bonds I and EE (TreasuryDirect published rates, US persons only, $10,000 a year each).
- Municipal bonds and funds: each state's own rules are applied (rules for tax year 2025, checked September 2026). Special cases: Illinois, Wisconsin and Iowa tax most of their own bonds (only issues named in state law are exempt; we can't identify them, so they are counted as taxed). Puerto Rico, Guam and U.S. Virgin Islands bonds are exempt in every state. North Dakota exempts all municipal bonds. Utah exempts bonds from states without income tax. Oklahoma exempts its own bonds except local bonds issued for nonprofit organisations (we can't identify those, so all Oklahoma bonds are counted as exempt). Bond rules checked against each state's 2025 instructions or law; fund rules based on the most reliable sources we could find (for 24 states a 2022 industry survey; Iowa and DC fund rules not verified). Tax rules change and some cases depend on the specific bond or fund. This is an estimate, not tax advice. Check with a tax professional.
- Amount filter: Treasuries $100 (TreasuryDirect, US persons) or a typical $1,000 broker minimum for non-US residents (unverified); MMFs = filed minimum initial investment; single bonds = FIRDS minimum denomination; ETFs = 1 share (price not in our data); unknown minimums are shown with a badge unless hidden.
- Map risk axis (left = lower, right = higher): each option's position comes from its market spread over the same-maturity government curve – yield minus the U.S. Treasury par curve (curve 2026-09-28) at the bond's remaining maturity, or, for taxable USD bond ETFs, the fund's holdings yield-to-maturity before fees minus the Treasury curve at the fund's duration (EUR/GBP bonds: ECB AAA / Bank of England gilt curve). U.S. Treasuries and TIPS, government money-market funds and FDIC-insured deposit benchmarks are placed at the left end by rule. Options without a computable spread (prime and tax-exempt MMFs, muni/TIPS/non-USD funds) are shown grey as unknown. Scale: square root of the spread, from 0 to the 99.5th percentile of all spreads in this data snapshot (900 bp); fixed for the snapshot (does not change with filters), wider spreads are drawn at the right edge, negative spreads at the left edge. Market-implied, not a credit rating; no composite score, no weights. Spreads use N-PORT report-date valuations moved with the curve, so they can be up to ~60 days old. The numbers (bp) are shown only in Advanced.
- Advanced metrics: Extra net yield vs Treasury = your net yield after tax − net yield after tax of a Treasury at the same maturity (bonds) or duration (funds, MMFs, deposits) for the same tax profile (so Treasuries' state-tax exemption is included). Rate breakeven = gross yield ÷ modified duration (bonds: computed from coupon, maturity and yield; funds: reported/derived duration): the parallel rise in rates that would offset one year of yield, ignoring defaults, fees and taxes. Extra kept vs T-bills (main sort in the simple view) = your net after tax − the median net after tax of all Treasury bills in this snapshot for the same tax profile (the Compare panel's T-bill line). It does not match maturity: a longer bond also carries interest-rate risk; the maturity-matched figure (vs a Treasury of the same maturity) is under Details and More options.
- Privacy: no sign-up, no cookies, no analytics, no third-party requests – the page makes no network calls after loading. Your settings are kept only in this browser (localStorage keys bs_profiles_us1 / bs_profiles_v4 = tax profile, bs_lang = language, bs_text = text size, bs_usage = local search counter) and never leave your device; clear them via your browser's site-data settings.
Risk levels (1 to 5)
Each item gets a level from 1 to 5 by a fixed rule. It is the higher of two scores, worked out the same way for every item, with no manual choices. Who pays you back: 1 = the US government (Treasuries, savings bonds, government money-market funds, Treasury funds); 2 = US agencies, other money-market funds, or a fund with a market spread below 1%; 3 = spread 1% to 2.5% (single bonds: 1% to 2%); 4 = spread 2.5% to 5% (single bonds: 2% to 5%), and real-estate shares; 5 = spread 5% or more, distressed bonds, or a yield of 12% or more. The spread is the extra yield over US Treasuries of similar maturity. We hold no credit ratings, so: single company bonds and bonds of governments other than the US (and their state-owned companies) are at least 3; single bonds paying 2 percentage points or more over Treasuries are at least 4, a cautious stand-in for “below investment grade”; and bonds of issuers based in emerging markets (any country outside MSCI's developed-markets list, 2026 review) are at least 4. Issuers registered in offshore centres such as the Cayman Islands, Bermuda or Luxembourg get no country rule, because the registration says little about where the business is; the spread rule still applies. Municipal bonds have no comparable spread, so their yield is used: below 4% = 2, below 5% = 3, below 6.5% = 4, otherwise 5; bonds from US territories (Puerto Rico, Guam, US Virgin Islands, American Samoa, Northern Mariana Islands) are at least 4. Bonds of governments whose own bonds pay 3 percentage points or more over US Treasuries (our stand-in for a below-investment-grade rating; we hold no ratings), and company bonds from those countries, are level 5. How much the price can move with interest rates (years to maturity, or a fund's average duration): up to 1 year = 1; up to 3 years = 2; up to 10 years = 3; more than 10 years = 4. A spread is the extra yield over a US Treasury of the same length; it is taken from market prices, not from a credit rating. The level is a way to group items, not a prediction. When the same bond appears under two IDs (for example the 144A and the registered version: same issuer, coupon and maturity), only the one with the newer price date is listed.
“Worth a closer look” tag: we compare each item's yield before tax (after-tax figures differ between items for tax reasons alone, e.g. in-state municipal bonds) with other items of the same type at the same risk level in your view. It is tagged when it is at least 1.5 times the group's middle value and also more than 4 robust deviations above it (4 × 1.4826 × the median absolute deviation). Groups with fewer than 20 items are compared with the same type at this and the neighbouring risk levels (still fewer than 20: not tested). Distressed bonds and yields of 12% or more carry the same tag. Tagged items are never hidden; they are listed after the others.
Money back: single bonds are listed when they mature within the time you chose (maturity from our data); funds, ETFs, real-estate shares and money-market funds can be sold on any trading day, so they are listed for every choice – their price can move. Items without a maturity in our data are listed only under “Any”.
Developed markets (no emerging-market rule): Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the UK and the US, as classified by MSCI (2026 review; Greece moves to developed in May 2027). Issuer country as reported in the fund filings. MSCI Market Classification (checked 29 Sep 2026).
Canada: federal plus provincial or territorial tax (2026)
For residents of Canada we use the marginal rate at the income you pick: the 2026 federal bracket rate plus the 2026 bracket rate of your province or territory. Quebec: the federal rate is reduced by the 16.5% Quebec abatement and Quebec rates come from Revenu Québec. Ontario: the Ontario surtax is included (20% of Ontario tax above $5,818 and a further 36% above $7,446, with Ontario tax worked out using only the $12,989 basic personal amount). Not included: the Ontario Health Premium, other credits and deductions, and the phase-out of the federal basic personal amount at high incomes. If no province is chosen, only federal tax is included and the page says so.
- CRA – Current year tax rates and income brackets (2026): federal and provincial/territorial rates (checked 29 Sep 2026)
- Revenu Québec – Income tax rates for 2026 (checked 29 Sep 2026)
- Finance Canada – Quebec Abatement (16.5 points of federal personal income tax) (checked 29 Sep 2026)
- CRA T4032ON (January 2026) – Ontario surtax thresholds and basic personal amount (checked 29 Sep 2026)
Municipal bond prices
Municipal bond prices and yields come from the latest fund holdings reports filed with the SEC (Form N-PORT), so each municipal bond shows its price date. Current dealer trade prices are published by the MSRB on EMMA, but EMMA's terms do not allow republishing them without the MSRB's permission or a paid data subscription, so we do not show them.
Information tool – not investment, tax or legal advice. Same data for every user; nothing here is a recommendation to buy, sell or hold.
What we have not re-checked yet
These rules come from secondary sources or were not re-read on the official site in the latest check. The numbers above use them as stated.
- Broker minimums and which brokers offer which products were read from broker websites and may have changed.
- Net investment income tax (3.8%) thresholds were not re-verified in the latest tax-model pass.
- Israel's high-income surtax threshold is from secondary sources, not re-read on the Israel Tax Authority site.
- REIT payouts are treated as ordinary REIT dividends; their split into qualified / capital-gain / return-of-capital parts is not modelled.
- A municipal bond's state is inferred from its name; in-state exemptions and their exceptions were not verified state by state.
- How each state taxes fund payouts that come from US government bonds (the share that is exempt) follows published state rules that were not all re-checked.
- Whether a US fund designates 'interest-related dividends' (no US withholding for non-residents) varies by fund and year.
- The “only if the fund holds at least 50% US Treasuries” rule for California, Connecticut and New York funds comes from secondary sources and was not re-checked on each state's site.
Tax rules used (launch residences US/UK/DE/NL)
Rules v3+us1, reconciled with the Global Yield tax model on 2026-09-28. General rules only – not tax advice; 'uncertain' = not confirmed from a primary source or judgement.
| rule | status | assumptions | sources |
|---|---|---|---|
| US resident – US Treasuries (state-exempt) / US registered corporates (direct) | active uncertain | Treasury interest is exempt from state and local income tax (31 U.S.C. §3124). Pull-to-par on bonds bought below par is taxed as ordinary income (market discount), so the whole YTM is taxed at the federal rate. Premium assumed amortised under §171. State tax is not deducted on the federal return in this estimate (SALT ignored). Municipal-bond fund income: federally exempt; NIIT not applied. muni_in_state_uncertain muni_amt_unknown muni_call_unknown | Rev. Proc. 2025-32 (2026 federal brackets 10–37%) 31 U.S.C. §3124(a) – US obligations exempt from state/local tax IRS Publication 550 – Investment Income (Treasury interest exempt from state/local tax; market discount = ordinary income) IRS – Net Investment Income Tax (3.8%, IRC §1411) 26 U.S.C. §103 – interest on state and local bonds excluded from gross income |
| US resident – Non-US issuer bonds (direct) | active uncertain | Pull-to-par on bonds bought below par is taxed as ordinary income (market discount), so the whole YTM is taxed at the federal rate. Source-country withholding assumed 0% (listed bonds / portfolio interest) – check per issuer country. FX gains on non-USD debt: §988 ordinary income – not modelled [unverified]. | Rev. Proc. 2025-32 (2026 federal brackets 10–37%) IRS Publication 550 – Investment Income (Treasury interest exempt from state/local tax; market discount = ordinary income) IRS – Net Investment Income Tax (3.8%, IRC §1411) |
| US resident – US-domiciled bond ETF | active uncertain | Bond-ETF distributions are ordinary dividends at federal rates. The fund's US-Treasury share (N-PORT value share, proxy) is state-exempt per your fund rule choice. Some states (e.g. CA, CT, NY per fund-company guides) require ≥50% US-government assets at each quarter-end – unverified. Municipal-bond fund income: federally exempt; NIIT not applied. Muni income assumed state-taxable (national fund; in-state share ignored). | Rev. Proc. 2025-32 (2026 federal brackets 10–37%) IRS Publication 550 – Investment Income (Treasury interest exempt from state/local tax; market discount = ordinary income) 31 U.S.C. §3124(a) – US obligations exempt from state/local tax IRS – Net Investment Income Tax (3.8%, IRC §1411) Vanguard – US government obligations (USGO) tax notice (state thresholds, CA/CT/NY 50% rule) ICI – 2025 state tax survey (fund pass-through of US-government interest) |
| US resident – non-US (UCITS) fund = PFIC → excluded | blocked | Non-US funds are PFICs for US persons (Form 8621; excess-distribution regime) → excluded. Issuers state UCITS products are not for US Persons. | IRS – About Form 8621 (PFIC); IRC §§1291–1298 Amundi ETF terms – products not for US Persons |
| UK resident – US bonds – Treasury / registered corporate (direct) | active | US portfolio-interest exemption: 0% US withholding with a valid W-8BEN. Personal Savings Allowance ignored. Coupon (current yield) at your savings rate; pull-to-par at CGT (18%/24%) for non-sterling bonds. Sterling gilts and qualifying corporate bonds: gains CGT-exempt. Zero-coupon bonds/bills treated as deeply discounted securities (discount taxed as income) – per-bond DDS test not implemented. FX gain on non-sterling bonds is chargeable to CGT – not modelled (FX not forecast). CGT annual exempt amount (£3,000) and Personal Savings Allowance ignored. Non-US resident: US Treasury and portfolio-interest-eligible corporate interest is exempt from US tax (W-8BEN; registered debt issued after 18 Jul 1984; not for 10% shareholders/banks) [check each bond]. Directly held Treasuries/portfolio-interest bonds are generally excluded from a non-resident's US gross estate (§2105(b)) – verify. | Finance Act 2026 ss.3–5 – savings rates 20/40/45% (2026-27) → 22/42/47% (2027-28) GOV.UK – Capital Gains Tax rates 18%/24%, annual exempt amount £3,000 TCGA 1992 s115/s117 – gilts & qualifying corporate bonds exempt; QCB must be expressed in sterling GOV.UK – tax on savings interest (PSA £1,000/£500/£0; ISA interest not taxed) IRS – NRA portfolio interest exclusion IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) 26 U.S.C. §2105(b) – bank deposits and portfolio-interest debt not US-situs for NRA estate tax |
| UK resident – Non-US issuer bonds (direct) | active uncertain | Personal Savings Allowance ignored. Source-country withholding assumed 0% (listed bonds / portfolio interest) – check per issuer country. Coupon (current yield) at your savings rate; pull-to-par at CGT (18%/24%) for non-sterling bonds. Sterling gilts and qualifying corporate bonds: gains CGT-exempt. Zero-coupon bonds/bills treated as deeply discounted securities (discount taxed as income) – per-bond DDS test not implemented. FX gain on non-sterling bonds is chargeable to CGT – not modelled (FX not forecast). CGT annual exempt amount (£3,000) and Personal Savings Allowance ignored. | Finance Act 2026 ss.3–5 – savings rates 20/40/45% (2026-27) → 22/42/47% (2027-28) GOV.UK – Capital Gains Tax rates 18%/24%, annual exempt amount £3,000 TCGA 1992 s115/s117 – gilts & qualifying corporate bonds exempt; QCB must be expressed in sterling GOV.UK – tax on savings interest (PSA £1,000/£500/£0; ISA interest not taxed) IRS – NRA portfolio interest exclusion |
| UK resident – UCITS bond fund (interest distributions) | active uncertain | Bond fund (>60% interest-bearing): distributions taxed as interest (savings rates). Reporting-fund status matters (non-reporting: gains taxed as income) – check HMRC list. Inside an ISA/SIPP: 0% – choose the 0% option. Whole YTM taxed at the savings rate (approximation of reportable income + NAV change). | Finance Act 2026 ss.3–5 – savings rates 20/40/45% (2026-27) → 22/42/47% (2027-28) HMRC IFM13320 / ITTOIA s378A – bond fund (>60% interest-bearing) distributions taxed as interest HMRC – approved offshore reporting funds list (monthly, OGL) HMRC HS265 – offshore funds |
| UK resident – US-domiciled ETF | restricted | No US funds are recognised schemes in the UK (FCA PS25/20). Non-reporting fund gains are taxed as income. US withholding on fund dividends 15% (treaty); up to 0% if the broker applies §871(k) interest-related dividends. Non-US resident: US fund distributions are subject to 30% US withholding, reduced to the treaty dividend rate (e.g. 15% UK/CA/DE/NL, 25% IL individual) with a W-8BEN. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). | FCA PS25/20 para 2.8 – no US funds are recognised schemes in the UK IRC §871(k) – interest-related dividends exempt (if fund designates and broker applies) 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS – Tax treaty tables (dividend/interest withholding rates by country) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) |
| DE resident – US bonds – Treasury / registered corporate (direct) | active | US portfolio-interest exemption: 0% US withholding with a valid W-8BEN. Sparer-Pauschbetrag (€1,000 / €2,000) ignored. FX gains on foreign-currency bonds are taxable – not modelled. Non-US resident: US Treasury and portfolio-interest-eligible corporate interest is exempt from US tax (W-8BEN; registered debt issued after 18 Jul 1984; not for 10% shareholders/banks) [check each bond]. Directly held Treasuries/portfolio-interest bonds are generally excluded from a non-resident's US gross estate (§2105(b)) – verify. | §32d(1) EStG – 25%; with church tax e/(4+k); + Solidaritätszuschlag 5.5% IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) 26 U.S.C. §2105(b) – bank deposits and portfolio-interest debt not US-situs for NRA estate tax |
| DE resident – Non-US issuer bonds (direct) | active uncertain | Sparer-Pauschbetrag (€1,000 / €2,000) ignored. FX gains on foreign-currency bonds are taxable – not modelled. Source-country withholding assumed 0% (listed bonds / portfolio interest) – check per issuer country. | §32d(1) EStG – 25%; with church tax e/(4+k); + Solidaritätszuschlag 5.5% |
| DE resident – UCITS bond fund | active uncertain | Sparer-Pauschbetrag (€1,000 / €2,000) ignored. Bond funds get 0% Teilfreistellung (§20 InvStG). Accumulating funds: Vorabpauschale (NAV × 3.20% × 70% for 2026, deemed received 4 Jan 2027) = tax paid earlier, not an extra cost. | §32d(1) EStG – 25%; with church tax e/(4+k); + Solidaritätszuschlag 5.5% InvStG §16, §18 (Vorabpauschale), §20 (Teilfreistellung) §20 InvStG – Teilfreistellung only for equity/mixed/real-estate funds → bond funds 0% BMF 13 Jan 2026 – Basiszins 2026 = 3.20% for the Vorabpauschale §18 InvStG – Vorabpauschale (Basisertrag = NAV × Basiszins × 70%) |
| DE resident – US-domiciled ETF | restricted uncertain | Sparer-Pauschbetrag (€1,000 / €2,000) ignored. Bond funds get 0% Teilfreistellung (§20 InvStG). Accumulating funds: Vorabpauschale (NAV × 3.20% × 70% for 2026, deemed received 4 Jan 2027) = tax paid earlier, not an extra cost. US-domiciled ETFs have no PRIIPs KID → usually not offered to EU retail clients. US withholding on fund dividends 15% (treaty); up to 0% if the broker applies §871(k) interest-related dividends. Non-US resident: US fund distributions are subject to 30% US withholding, reduced to the treaty dividend rate (e.g. 15% UK/CA/DE/NL, 25% IL individual) with a W-8BEN. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). | §32d(1) EStG – 25%; with church tax e/(4+k); + Solidaritätszuschlag 5.5% Regulation (EU) No 1286/2014 (PRIIPs), Art. 5 & 13 §20 InvStG – Teilfreistellung only for equity/mixed/real-estate funds → bond funds 0% BMF 13 Jan 2026 – Basiszins 2026 = 3.20% for the Vorabpauschale §18 InvStG – Vorabpauschale (Basisertrag = NAV × Basiszins × 70%) 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS – Tax treaty tables (dividend/interest withholding rates by country) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) |
| NL resident – box 3 (deemed return on value) | active | Box-3 allowance (€59,357 per person) ignored – assumes assets above it. Box 3: tax on a deemed 6.00% return × 36% = 2.16% of value per year (2026), regardless of the coupon. If your actual box-3 return is lower you can declare it (tegenbewijs) – assessed on the whole portfolio. Actual-return box-3 law pending in the Eerste Kamer (intended 2028, uncertain). | Belastingdienst – box 3 2026: 6.00% deemed return on other assets, 36% tax, €59,357 allowance, reference date 1 Jan Belastingdienst – actual return (tegenbewijs) route Eerste Kamer – Wet werkelijk rendement box 3 (36.748): vote postponed; intended start 1 Jan 2028 (uncertain) |
| NL resident – US-domiciled ETF (box 3) | restricted | US-domiciled ETFs have no PRIIPs KID → usually not offered to EU retail clients. Box-3 allowance (€59,357 per person) ignored – assumes assets above it. Box 3: tax on a deemed 6.00% return × 36% = 2.16% of value per year (2026), regardless of the coupon. If your actual box-3 return is lower you can declare it (tegenbewijs) – assessed on the whole portfolio. Actual-return box-3 law pending in the Eerste Kamer (intended 2028, uncertain). US withholding on fund dividends 15% (treaty); up to 0% if the broker applies §871(k) interest-related dividends. Non-US resident: US fund distributions are subject to 30% US withholding, reduced to the treaty dividend rate (e.g. 15% UK/CA/DE/NL, 25% IL individual) with a W-8BEN. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). | Belastingdienst – box 3 2026: 6.00% deemed return on other assets, 36% tax, €59,357 allowance, reference date 1 Jan Belastingdienst – actual return (tegenbewijs) route Eerste Kamer – Wet werkelijk rendement box 3 (36.748): vote postponed; intended start 1 Jan 2028 (uncertain) Regulation (EU) No 1286/2014 (PRIIPs) 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS – Tax treaty tables (dividend/interest withholding rates by country) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) |
| IL resident – US bonds – Treasury / registered corporate (direct) | active | US portfolio-interest exemption: 0% US withholding with a valid W-8BEN. Israel: interest on foreign bonds (incl. US Treasuries) taxed at 25% for individuals (Income Tax Ordinance s.125C); surtax (s.121B: 3%, plus 2% on capital income from 2025) above the annual threshold – selectable [uncertain]. Israeli tax is computed in ILS: interest converted at the rate on receipt; currency gains/losses on the principal enter the capital gain on sale/redemption – not modelled; yields are shown in USD terms (hedged ILS n/a). A foreign broker does not withhold Israeli tax: annual self-reporting/payment is required [not modelled]. Non-US resident: US Treasury and portfolio-interest-eligible corporate interest is exempt from US tax (W-8BEN; registered debt issued after 18 Jul 1984; not for 10% shareholders/banks) [check each bond]. Directly held Treasuries/portfolio-interest bonds are generally excluded from a non-resident's US gross estate (§2105(b)) – verify. | IRS – NRA portfolio interest exclusion Income Tax Ordinance s.125C (rates on interest) IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) 26 U.S.C. §2105(b) – bank deposits and portfolio-interest debt not US-situs for NRA estate tax |
| IL resident – Non-US issuer bonds (direct) | active uncertain | Israel: interest on foreign bonds (incl. US Treasuries) taxed at 25% for individuals (Income Tax Ordinance s.125C); surtax (s.121B: 3%, plus 2% on capital income from 2025) above the annual threshold – selectable [uncertain]. Israeli tax is computed in ILS: interest converted at the rate on receipt; currency gains/losses on the principal enter the capital gain on sale/redemption – not modelled; yields are shown in USD terms (hedged ILS n/a). A foreign broker does not withhold Israeli tax: annual self-reporting/payment is required [not modelled]. Source-country withholding assumed 0% (listed bonds / portfolio interest) – check per issuer country. | IRS – NRA portfolio interest exclusion Income Tax Ordinance s.125C (rates on interest) |
| IL resident – US-domiciled bond ETF | active | US withholding on fund dividends 15% (treaty); up to 0% if the broker applies §871(k) interest-related dividends. us_estate_tax A foreign broker does not withhold Israeli tax: annual self-reporting/payment is required [not modelled]. Non-US resident: US fund distributions are subject to 30% US withholding, reduced to the treaty dividend rate (e.g. 15% UK/CA/DE/NL, 25% IL individual) with a W-8BEN. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). | IRS Tax Treaty Table 1 (Israel dividends 25%) IRS – Estate tax for nonresidents (US-situs > $60,000) 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS – Tax treaty tables (dividend/interest withholding rates by country) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) |
| IL resident – UCITS bond fund (IE/LU) | active | ucits_no_irish_wht il_acc_deferral A foreign broker does not withhold Israeli tax: annual self-reporting/payment is required [not modelled]. | Income Tax Ordinance s.125C |
| US resident – US money market fund (dividends = ordinary income; state: US-Treasury share per fund rule) | active uncertain | MMF dividends are ordinary income federally (no qualified-dividend rate). State exemption estimated from the fund's N-MFP holdings: share of direct U.S. Treasury debt at month-end (proxy for the year-end US-obligation percentage the fund publishes). Some states (e.g. CA, CT, NY per fund-company guides) require ≥50% US-government assets at each quarter-end – unverified. Repurchase agreements are not US-obligation interest for state purposes; agency debt varies by agency and state and is NOT counted (conservative) [uncertain]. Municipal-bond fund income: federally exempt; NIIT not applied. Muni income assumed state-taxable (national fund; in-state share ignored). | Rev. Proc. 2025-32 (2026 federal brackets 10–37%) IRS Publication 550 – Investment Income (Treasury interest exempt from state/local tax; market discount = ordinary income) 31 U.S.C. §3124(a) – US obligations exempt from state/local tax IRS – Net Investment Income Tax (3.8%, IRC §1411) Vanguard – US government obligations (USGO) tax notice (state thresholds, CA/CT/NY 50% rule) ICI – 2025 state tax survey (fund pass-through of US-government interest) |
| US resident – bank savings / CD interest (national average benchmark) | active uncertain | Bank deposit interest is fully taxable federally and by the state; FDIC national averages are benchmarks, not offers. | Rev. Proc. 2025-32 (2026 federal brackets 10–37%) IRS Publication 550 – Investment Income (Treasury interest exempt from state/local tax; market discount = ordinary income) |
| Canada resident – US Treasuries / US corporate bonds (direct): US tax 0% (portfolio interest), Canadian tax at marginal rate | active uncertain | Non-US resident: US Treasury and portfolio-interest-eligible corporate interest is exempt from US tax (W-8BEN; registered debt issued after 18 Jul 1984; not for 10% shareholders/banks) [check each bond]. Canada: interest (incl. foreign) is fully taxable at the marginal rate; federal rates 2026 (CRA). Provincial tax: enter a provincial marginal rate; province-specific rules are not modelled yet. Directly held Treasuries/portfolio-interest bonds are generally excluded from a non-resident's US gross estate (§2105(b)) – verify. | IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends CRA – Federal tax rates 2026 (14% / 20.5% / 26% / 29% / 33%) 26 U.S.C. §2105(b) – bank deposits and portfolio-interest debt not US-situs for NRA estate tax |
| Canada resident – non-US issuer bonds (direct) | active uncertain | Source-country withholding assumed 0% (listed bonds / portfolio interest) – check per issuer country. Canada: interest (incl. foreign) is fully taxable at the marginal rate; federal rates 2026 (CRA). Provincial tax: enter a provincial marginal rate; province-specific rules are not modelled yet. | CRA – Federal tax rates 2026 (14% / 20.5% / 26% / 29% / 33%) |
| Canada resident – US-domiciled bond ETF: 15% US withholding (treaty), credited against Canadian tax | active uncertain | Non-US resident: US fund distributions are subject to 30% US withholding, reduced to the treaty dividend rate (e.g. 15% UK/CA/DE/NL, 25% IL individual) with a W-8BEN. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). Canada: US withholding creditable via the foreign tax credit (non-business income, generally up to 15%; excess may be deductible). US withholding on US-fund dividends generally does not apply inside an RRSP/RRIF (treaty Art. XXI); TFSA/RESP not exempt [not modelled]. US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). Provincial tax: enter a provincial marginal rate; province-specific rules are not modelled yet. | IRS – Tax treaty tables (dividend/interest withholding rates by country) 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) CRA – Line 40500 federal foreign tax credit CRA – Federal tax rates 2026 (14% / 20.5% / 26% / 29% / 33%) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) |
| Canada resident – UCITS ETFs: generally not offered to Canadian retail [uncertain] | restricted uncertain | UCITS ETFs are generally not distributed to Canadian retail investors [uncertain]. | CRA – Federal tax rates 2026 (14% / 20.5% / 26% / 29% / 33%) |
| Canada resident – US money market mutual funds: generally not offered to non-US residents [uncertain] | restricted uncertain | US money market mutual funds are generally not sold to non-US residents (local offering rules); MMF ETFs may be exchange-traded [uncertain]. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) |
| Canada resident – US bank deposit interest (benchmark): US tax 0% (§871(i)), Canadian tax at marginal rate | active uncertain | US bank deposit interest paid to a non-resident is exempt from US tax (§871(i)(2)(A)); home-country tax applies. National average benchmark only – opening a US bank account as a non-resident is often not possible. Canada: interest (incl. foreign) is fully taxable at the marginal rate; federal rates 2026 (CRA). | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends CRA – Federal tax rates 2026 (14% / 20.5% / 26% / 29% / 33%) |
| UK resident – US money market mutual funds: generally not offered to non-US retail (PRIIPs / not recognised) | restricted | US money market mutual funds are generally not sold to non-US residents (local offering rules); MMF ETFs may be exchange-traded [uncertain]. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) |
| UK resident – US bank deposit interest (national average benchmark): US tax 0% (§871(i)), home-country tax | active | US bank deposit interest paid to a non-resident is exempt from US tax (§871(i)(2)(A)); home-country tax applies. National average benchmark only – opening a US bank account as a non-resident is often not possible. | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends Finance Act 2026 ss.3–5 – savings rates 20/40/45% (2026-27) → 22/42/47% (2027-28) GOV.UK – Capital Gains Tax rates 18%/24%, annual exempt amount £3,000 |
| DE resident – US money market mutual funds: generally not offered to non-US retail (PRIIPs / not recognised) | restricted uncertain | US money market mutual funds are generally not sold to non-US residents (local offering rules); MMF ETFs may be exchange-traded [uncertain]. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). priips_kid | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) Regulation (EU) 1286/2014 (PRIIPs) – KID required for retail |
| DE resident – US bank deposit interest (national average benchmark): US tax 0% (§871(i)), home-country tax | active | US bank deposit interest paid to a non-resident is exempt from US tax (§871(i)(2)(A)); home-country tax applies. National average benchmark only – opening a US bank account as a non-resident is often not possible. | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends §32d(1) EStG – 25%; with church tax e/(4+k); + Solidaritätszuschlag 5.5% |
| NL resident – US money market mutual funds: generally not offered to non-US retail (PRIIPs / not recognised) | restricted | US money market mutual funds are generally not sold to non-US residents (local offering rules); MMF ETFs may be exchange-traded [uncertain]. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). priips_kid | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) Regulation (EU) 1286/2014 (PRIIPs) – KID required for retail |
| NL resident – US bank deposit interest (national average benchmark): US tax 0% (§871(i)), home-country tax | active | US bank deposit interest paid to a non-resident is exempt from US tax (§871(i)(2)(A)); home-country tax applies. National average benchmark only – opening a US bank account as a non-resident is often not possible. | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends Belastingdienst – box 3 2026: 6.00% deemed return on other assets, 36% tax, €59,357 allowance, reference date 1 Jan Belastingdienst – actual return (tegenbewijs) route |
| IL resident – US money market mutual funds: generally not offered to non-US retail [uncertain] | restricted | US money market mutual funds are generally not sold to non-US residents (local offering rules); MMF ETFs may be exchange-traded [uncertain]. Interest-related dividends (§871(k)) are exempt from US withholding only if the fund designates them and the broker applies it – fund- and broker-dependent [uncertain]. Toggle in the profile; default = treaty rate (conservative). US-domiciled ETF/MMF shares are US-situs assets: a non-resident's estate must file if US-situs assets exceed $60,000; an estate-tax treaty may change this (not modelled). | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS Publication 515 – Withholding of Tax on Nonresident Aliens (portfolio interest, interest-related dividends, bank deposit interest) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) |
| IL resident – US bank deposit interest (national average benchmark): US tax 0% (§871(i)), home-country tax | active | US bank deposit interest paid to a non-resident is exempt from US tax (§871(i)(2)(A)); home-country tax applies. National average benchmark only – opening a US bank account as a non-resident is often not possible. | 26 U.S.C. §871(h) portfolio interest, §871(i) bank deposits, §871(k) interest-related dividends IRS – NRA portfolio interest exclusion Income Tax Ordinance s.125C (rates on interest) |
| US resident – listed US REIT shares: ordinary dividends, §199A 20% deduction (federal only), state tax, NIIT | active uncertain | reit_199a reit_split_unknown reit_state_ordinary | Rev. Proc. 2025-32 (2026 federal brackets 10–37%) IRS Publication 550 – Investment Income (Treasury interest exempt from state/local tax; market discount = ordinary income) IRS – Net Investment Income Tax (3.8%, IRC §1411) P.L. 119-21 (One Big Beautiful Bill Act) Sec. 70105 – §199A made permanent IRS Instructions for Form 1099-DIV (box 5 Section 199A dividends) |
| CA resident – listed US REIT shares: 15% US withholding on dividends (treaty, W-8BEN), home-country tax with credit | active uncertain | reit_nr_wht reit_nr_estate reit_nr_firpta_listed | IRS Tax Treaty Table 1 – dividend withholding rates (REIT conditions in footnotes) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) 26 U.S.C. §897(h), (k) – listed REIT distributions to ≤10% holders treated as dividends |
| UK resident – listed US REIT shares: 15% US withholding on dividends (treaty, W-8BEN), home-country tax with credit | active uncertain | reit_nr_wht reit_nr_estate reit_nr_firpta_listed UK residents: US REIT dividends are taxed at UK dividend rates (2026-27: 10.75% basic, 35.75% higher, 39.35% additional; £500 dividend allowance not modelled). The 15% US withholding is credited up to the UK tax, so basic-rate taxpayers pay 15% in total. | IRS Tax Treaty Table 1 – dividend withholding rates (REIT conditions in footnotes) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) 26 U.S.C. §897(h), (k) – listed REIT distributions to ≤10% holders treated as dividends GOV.UK – Tax on dividends: 10.75% / 35.75% / 39.35% above the £500 dividend allowance (6 Apr 2026 – 5 Apr 2027) HMRC HS263 (2026) – foreign tax credit relief: lower of the foreign tax (treaty rate) and the UK tax on that income |
| IL resident – listed US REIT shares: 25% US withholding on dividends (treaty, W-8BEN), home-country tax with credit | active uncertain | reit_nr_wht reit_nr_estate reit_nr_firpta_listed | IRS Tax Treaty Table 1 – dividend withholding rates (REIT conditions in footnotes) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) 26 U.S.C. §897(h), (k) – listed REIT distributions to ≤10% holders treated as dividends |
| DE resident – listed US REIT shares: 15% US withholding on dividends (treaty, W-8BEN), home-country tax with credit | active uncertain | reit_nr_wht reit_nr_estate reit_nr_firpta_listed | IRS Tax Treaty Table 1 – dividend withholding rates (REIT conditions in footnotes) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) 26 U.S.C. §897(h), (k) – listed REIT distributions to ≤10% holders treated as dividends |
| NL resident – listed US REIT shares: 15% US withholding on dividends (treaty, W-8BEN), home-country tax with credit | active uncertain | reit_nr_wht reit_nr_estate reit_nr_firpta_listed | IRS Tax Treaty Table 1 – dividend withholding rates (REIT conditions in footnotes) IRS – Estate tax FAQ for nonresidents not citizens of the US ($60,000 filing threshold; US-situs assets) 26 U.S.C. §897(h), (k) – listed REIT distributions to ≤10% holders treated as dividends |
| US resident – US savings bonds (I / EE): federal tax (can be deferred to redemption), exempt from state and local income tax | active uncertain | Savings bond interest is exempt from state and local income tax. Federal tax can be paid each year or deferred until the bond is cashed; the education exclusion is not modelled. Purchase limit: $10,000 per person per calendar year for each series (electronic). | TreasuryDirect – Tax information for EE and I savings bonds |
| CA resident – US savings bonds: sold only to US citizens, residents and employees (TreasuryDirect) | blocked | US savings bonds are sold only to US citizens, US residents and US civilian employees (TreasuryDirect). | TreasuryDirect – savings bonds: who is eligible |
| DE resident – US savings bonds: sold only to US citizens, residents and employees (TreasuryDirect) | blocked | US savings bonds are sold only to US citizens, US residents and US civilian employees (TreasuryDirect). | TreasuryDirect – savings bonds: who is eligible |
| IL resident – US savings bonds: sold only to US citizens, residents and employees (TreasuryDirect) | blocked | US savings bonds are sold only to US citizens, US residents and US civilian employees (TreasuryDirect). | TreasuryDirect – savings bonds: who is eligible |
| NL resident – US savings bonds: sold only to US citizens, residents and employees (TreasuryDirect) | blocked | US savings bonds are sold only to US citizens, US residents and US civilian employees (TreasuryDirect). | TreasuryDirect – savings bonds: who is eligible |
| UK resident – US savings bonds: sold only to US citizens, residents and employees (TreasuryDirect) | blocked | US savings bonds are sold only to US citizens, US residents and US civilian employees (TreasuryDirect). | TreasuryDirect – savings bonds: who is eligible |
US state income tax on interest (2026)
US state individual income tax on interest, single filer. Rates/brackets re-sourced on 2026-09-28 from each state's official revenue department (or, where marked, the enacted statute); each state carries its source URL and tax year, and [uncertain] where the official page was unclear or not yet updated for 2026. State tax on US Treasury interest = 0 (31 USC 3124). Fund US-obligation pass-through: 'threshold_50' = CA/CT/NY require >=50% of fund assets in US obligations [uncertain, per fund-company USGO notices]; other states 'proportional' [not verified state by state]. Local income taxes NOT included. State tax treated as not deductible federally (SALT ignored). State revenue departments (per-state sources below) · Vanguard – US government obligations (USGO) tax notice (state thresholds, CA/CT/NY 50% rule) uncertain
| state | max rate (single) | brackets | tax year | official source | fund US-obligation rule | notes |
|---|---|---|---|---|---|---|
| AK Alaska | 0% | 0 | current | Alaska Department of Revenue – Tax Division programs (no individual income tax) – official source re-checked 2026-10-01 | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. |
| AL Alabama | 5% | 3 | 2026 (statutory, unchanged) | Alabama Department of Revenue – What is Alabama's individual income tax rate? | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. |
| AR Arkansas | 3.7% | 5 | 2026 | Arkansas Act 1 of 2026 (1st Extraordinary Session, HB1001) – A.C.A. 26-51-201(a)(4) rate tables for tax years from 1 Jan 2026 (top 3.7%) | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. Income over $94,700 uses the upper-income table (2% on the first $4,700, then 3.7%) with a bracket adjustment up to $97,600; the marginal top rate is the same 3.7%. |
| AZ Arizona | 2.5% | 1 | 2023 and beyond | Arizona Department of Revenue – Withholding calculations ('for tax year 2023 and beyond, the tax rate for Arizona taxable income is 2.5%') | Proportional (fund's US-Treasury share exempt) | |
| CA California | 13.3% uncertain | 10 | 2025 schedule (FTB: use 2025 tax table for 2026 estimated tax) | California FTB – 2025 California Tax Rate Schedules (Schedule X); 2026 Form 540-ES instructions (Behavioral Health Services Tax 1% over $1,000,000) | Only if fund ≥ 50% US-Treasury (e.g. CA/CT/NY) | 13.3% = 12.3% schedule rate + 1% Behavioral Health Services Tax on taxable income over $1,000,000 (2026 Form 540-ES instructions, https://www.ftb.ca.gov/forms/2026/2026-540-es-instructions.html). Muni rules verified 2026-10-01 against the official source. [uncertain] 2026 indexed thresholds not yet published; FTB tells taxpayers to use the 2025 table for 2026 estimates |
| CO Colorado | 4.4% | 1 | 2026 | Colorado Department of Revenue – DR 0104EP 2026 estimated income tax ('4.4% of line 1') | Proportional (fund's US-Treasury share exempt) | Temporary TABOR rate reductions, if triggered, are not modelled. |
| CT Connecticut | 6.99% | 7 | 2026 | Connecticut DRS – Form CT-1040ES 2026 (Rev. 01/26), tax calculation schedule, single | Only if fund ≥ 50% US-Treasury (e.g. CA/CT/NY) | 2% rate phase-out and benefit recapture for higher incomes not modelled. |
| DC District of Columbia | 10.75% | 7 | tax years beginning after 12/31/2021 | DC Office of Tax and Revenue – Individual and fiduciary income tax rates | Proportional (fund's US-Treasury share exempt) | |
| DE Delaware | 6.6% uncertain | 7 | tax years 2014 and after (Dept. of Finance tax-preference report 2025) | Delaware Department of Finance – Tax preference report 2025, Personal income tax: rates for tax years 2014 and after | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. Muni rules verified 2026-10-01 against the official source. [uncertain] HB 13 (2025) reportedly sets new 2026 brackets (up to 6.95% over $250,000) – not yet confirmed on a Division of Revenue page; 2014+ schedule applied |
| FL Florida | 0% | 0 | current | Florida Department of Revenue – Taxes & fees (no personal income tax) – official source re-checked 2026-10-01 | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. |
| GA Georgia | 4.99% | 1 | 2026 | Georgia Department of Revenue – 2026 Employer's Tax Guide (updated June 2026): HB 463 flat rate 4.99% retroactive to 1 Jan 2026 | Proportional (fund's US-Treasury share exempt) | |
| HI Hawaii | 11% uncertain | 12 | 2025 (N-11 rate schedule; Act 46 keeps the same brackets for 2026) | Hawaii Department of Taxation – 2025 tax rate schedule I (single) | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. [uncertain] 2026 schedule not yet published; Act 46 (2024) changes thresholds next in 2027 |
| IA Iowa | 3.8% | 1 | 2025 or later | Iowa Department of Revenue – Iowa tax/fee descriptions and rates (individual: 3.8% for 2025 or later) | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. Muni rules verified 2026-10-01 against the official source. |
| ID Idaho | 5.3% uncertain | 2 | 2025 (latest on the page) | Idaho State Tax Commission – Individual income tax rate schedule (2025, single) | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. [uncertain] 2026 schedule not yet on the page |
| IL Illinois | 4.95% | 1 | effective July 1, 2017 (current) | Illinois Department of Revenue – Income tax rates (individual 4.95% of net income) | Proportional (fund's US-Treasury share exempt) | |
| IN Indiana | 2.95% | 1 | 2026 | Indiana DOR – Departmental Notice #1 ('For 2026, the state adjusted gross income tax rate for individuals is 2.95%') | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. County income taxes not included. |
| KS Kansas | 5.58% uncertain | 2 | tax year 2024 and after | Kansas Department of Revenue – 2024 legislative changes: 5.2% (taxable income not over $23,000), 5.58% over $23,000 (all other individuals) | Proportional (fund's US-Treasury share exempt) | Contingent revenue-based rate cuts (Notice 25-06) not triggered per available information. Muni rules verified 2026-10-01 against the official source. [uncertain] whether an SB 269 contingent rate reduction applies to 2026 |
| KY Kentucky | 3.5% | 1 | 2026 | Kentucky Department of Revenue – 2026 Withholding Tax Formula ('2026 Kentucky Tax Rate: 3.5% of taxable income') | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. Local occupational license taxes not included. |
| LA Louisiana | 3% | 1 | tax periods beginning on or after 1 Jan 2025 | Louisiana Department of Revenue – What are the individual income tax rates and brackets? (flat 3%) | Proportional (fund's US-Treasury share exempt) | |
| MA Massachusetts | 9% uncertain | 2 | 2026 | Massachusetts DOR – 4% surtax on taxable income (threshold tax year 2026: $1,107,750); base rate 5% on interest (Part A, other than MA bank interest) | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. [uncertain] 5% base rate on interest from M.G.L. c.62 §4 / DOR tax-rates page (page not machine-readable from our fetcher); surtax threshold confirmed on the DOR surtax page |
| MD Maryland | 6.5% | 10 | 2026 | Comptroller of Maryland – 2026 Payment Voucher Worksheet, Tax Rate Schedule I (single) | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. County/Baltimore City local income tax (about 2.25–3.3%) not included. |
| ME Maine | 9.15% | 4 | 2026 | Maine Revenue Services – 2026 individual income tax rate schedules (rev.), single; footnote (1): additional 2% on taxable income over $1,000,000 (single) | Proportional (fund's US-Treasury share exempt) | 9.15% = 7.15% + 2% surcharge above $1,000,000 (single), per schedule footnote. |
| MI Michigan | 4.25% | 1 | 2026 | Michigan Department of Treasury – 4.25% income tax rate for individuals and fiduciaries in 2026 tax year | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. City income taxes (e.g. Detroit) not included. |
| MN Minnesota | 9.85% | 4 | 2026 | Minnesota Department of Revenue – Minnesota income tax rates and brackets (tax year 2026) | Proportional (fund's US-Treasury share exempt) | |
| MO Missouri | 4.7% uncertain | 8 | 2026 | Missouri Department of Revenue – 2026 Withholding Tax Formula (annual brackets in $1,348 steps) | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. Kansas City / St. Louis earnings taxes not included. Muni rules verified 2026-10-01 against the official source. [uncertain] brackets from the withholding formula (annual column); upper steps follow the published $1,348 increments |
| MS Mississippi | 4% | 2 | 2026 | Mississippi Department of Revenue – Individual income tax rates (tax year 2026: excess over $10,000 taxed at 4%) | Proportional (fund's US-Treasury share exempt) | |
| MT Montana | 5.65% | 2 | 2026 | Montana Department of Revenue – HB 337: 2026–2027 individual income tax changes (tax year 2026 brackets) | Proportional (fund's US-Treasury share exempt) | |
| NC North Carolina | 3.99% | 1 | tax years after 2025 | North Carolina Department of Revenue – Tax rate schedules ('for taxable years after 2025 … 3.99%') | Proportional (fund's US-Treasury share exempt) | |
| ND North Dakota | 2.5% uncertain | 3 | 2025 (individual income tax booklet) | North Dakota Office of State Tax Commissioner – 2025 individual income tax booklet, single rate schedule | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. [uncertain] 2026 indexed thresholds not yet published |
| NE Nebraska | 4.55% uncertain | 3 | 2026 (draft form) | Nebraska Department of Revenue – 2026 Tax Calculation Schedule (DRAFT), single | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. [uncertain] published as a draft form |
| NH New Hampshire | 0% | 0 | current | New Hampshire DRA – Interest & Dividends Tax FAQ (repealed for tax periods beginning after 31 Dec 2024) | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. |
| NJ New Jersey | 10.75% | 7 | 2025 (NJ-1040 instructions; statutory rates unchanged) | NJ Division of Taxation – 2025 NJ-1040 instructions, Tax Rate Schedule (Table A: single) | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. |
| NM New Mexico | 5.9% uncertain | 6 | taxable years beginning on or after 1 Jan 2025 | New Mexico Legislature – HB 252 (NMSA 7-2-7 as amended), single rates from 2025 | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. [uncertain] cited from the enacted bill text; the Taxation & Revenue Department rate page found on its site covers 2005–2021 only |
| NV Nevada | 0% | 0 | current | Nevada Department of Taxation (no personal income tax) – official source re-checked 2026-10-01 | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. |
| NY New York | 10.9% | 9 | 2026 | New York State Dept. of Taxation and Finance – Form IT-2105-I (2026), New York State tax rates, single | Only if fund ≥ 50% US-Treasury (e.g. CA/CT/NY) | Local income taxes may apply (e.g. cities/counties) – not included. High-income recapture ('tax benefit recapture') worksheets not modelled; NYC/Yonkers local tax not included. |
| OH Ohio | 3.13% uncertain | 3 | 2025 (latest on the DOR page) | Ohio Department of Taxation – Annual tax rates (taxable years beginning in 2025, nonbusiness income) | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. School-district and municipal income taxes not included. Muni rules verified 2026-10-01 against the official source. [uncertain] 2026 table not yet on the DOR page; secondary sources report a flat 2.75% above $26,050 for 2026 (HB 96) – not applied until confirmed on tax.ohio.gov |
| OK Oklahoma | 4.5% uncertain | 4 | 2026 | Oklahoma Tax Commission – 2026 Packet OW-2 Oklahoma Income Tax Withholding Tables (Table 7 annual, single: 0% / 2.5% / 3.5% / 4.5%) | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. [uncertain] Taxable-income limits ($3,750 / $4,900 / $7,200 single) derived from the OTC annual withholding table (wage limits $10,100 / $11,250 / $13,550 minus the $6,350 single standard deduction); not read from a Form 511 rate schedule |
| OR Oregon | 9.9% uncertain | 4 | 2025 (latest published charts) | Oregon Department of Revenue – 2025 tax rate charts (Chart S) | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. Muni rules verified 2026-10-01 against the official source. [uncertain] 2026 indexed thresholds not yet published |
| PA Pennsylvania | 3.07% | 1 | current | Pennsylvania Department of Revenue – Personal income tax (3.07%) | Proportional (fund's US-Treasury share exempt) | Local income taxes may apply (e.g. cities/counties) – not included. |
| RI Rhode Island | 5.99% | 3 | 2026 | Rhode Island Division of Taxation – 2026 withholding booklet (annual table = TY2026 uniform rate schedule); ADV 2025-22 inflation adjustments | Proportional (fund's US-Treasury share exempt) | High-income surtax enacted for tax years from 1 Jan 2027 (not in 2026). |
| SC South Carolina | 5.21% | 2 | 2026 | South Carolina DOR – Information Letter #26-20 (2026: 1.99% of taxable income, or 5.21% minus $966 from $30,000) | Proportional (fund's US-Treasury share exempt) | |
| SD South Dakota | 0% | 0 | current | South Dakota Department of Revenue – Individuals (no personal income tax) – official source re-checked 2026-10-01 | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. |
| TN Tennessee | 0% | 0 | current | Tennessee Department of Revenue – Income tax (Hall tax on interest/dividends repealed from tax year 2021) – official source re-checked 2026-10-01 | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. |
| TX Texas | 0% | 0 | current | Texas Constitution Art. 8 §24-a – individual income tax prohibited (added Nov. 5, 2019); re-checked 2026-09-28 | Proportional (fund's US-Treasury share exempt) | |
| UT Utah | 4.5% | 1 | January 1, 2025 – current | Utah State Tax Commission – Income tax rates (4.5% from 1 Jan 2025 – current) | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. |
| VA Virginia | 5.75% | 4 | current | Virginia Tax – tax rate table (2% / 3% / 5% / 5.75% over $17,000) | Proportional (fund's US-Treasury share exempt) | |
| VT Vermont | 8.75% | 4 | 2026 | Vermont Department of Taxes – IN-114 instructions 2026, Schedule X (single) | Proportional (fund's US-Treasury share exempt) | |
| WA Washington | 0% | 0 | current | Washington DOR – Capital gains tax (applies to certain long-term capital gains only; interest not taxed) | Proportional (fund's US-Treasury share exempt) | |
| WI Wisconsin | 7.65% uncertain | 4 | 2025 (latest on the page) | Wisconsin Department of Revenue – Individual income tax rates FAQ (2025 schedule, single) | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. [uncertain] 2026 indexed thresholds not yet on the page |
| WV West Virginia | 4.58% | 5 | tax years beginning on/after 1 Jan 2026 | West Virginia State Tax Department – 2026 income tax rate cut (single, joint, HOH, estates & trusts schedule) | Proportional (fund's US-Treasury share exempt) | |
| WY Wyoming | 0% | 0 | current | Wyoming Department of Revenue (no personal income tax) – official source re-checked 2026-10-01 | Proportional (fund's US-Treasury share exempt) | Muni rules verified 2026-10-01 against the official source. |
Filed offerings (not traded)
Income offerings filed with the SEC and open to all investors (Reg A+ Tier 2 circulars, non-traded REITs and BDCs, interval funds, SEC-registered notes) appear in the same list. Their yield is the rate stated by the company in its latest filing, with the date. After-tax figures use the same tax engine; distributions are taxed as ordinary income unless the filing says REIT dividends. Risk level: the stated yield over the US Treasury rate for the same term, with the same steps as company bonds (at least 3). Each card links to the filing on SEC EDGAR.