You assume wrong, good catch. It usually also applies to a generic brokerage account. Very hard to speak in generalities about this stuff, but no, I didn't mean to imply this is in any way because the accounts are special, but because the underlying investment vehicle is treated specially. Look up the rules around PFICs (Passive Foreign Investment Companies) if you want to get deeper into this.
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You assume wrong, good catch. It usually also applies to a generic brokerage account. Very hard to speak in generalities about this stuff, but no, I didn't mean to imply this is in any way because the accounts are special, but because the underlying investment vehicle is treated specially. Look up the rules around PFICs (Passive Foreign Investment Companies) if you want to get deeper into this.
https://www.bogleheads.org/wiki/US_tax_pitfalls_for_a_US_per...