Kosei & Kokumin Nenkin considered PFICs?

[Peace]

Hi
From what I'm aware, Nenkin are not individualized account so not necessary to include in FBAR report.

Correct understanding that both are not PFICs?
I don't think so as I've always saw them as just pool of funds, but I'm also unsure what they do with the money in the background (e.g. investments etc.) and what that could mean from PFIC perspective.

I'm trying to clarify but so far not having much success and any insights are appreciated.

Thanks

[captainspoke]

No, nothing to worry about. They are neither a PFIC issue, nor something to put on an FBAR.

[Peace]

Thanks for your helpful feedback! Much appreciated. phew.