Investment & Tax Disclaimer
Last updated October 18, 2026
Borderfolio for Advisors is software operated by Individual Entrepreneur Steffan Kharmaaiarvi, doing business as Borderfolio. Please read this disclaimer together with the Terms of Service. It applies to every figure, finding and report the Service produces.
1. We are not a broker, adviser or tax adviser
Borderfolio is not a broker, dealer, custodian, investment adviser, financial adviser, tax adviser or regulated financial institution in any jurisdiction. It does not manage assets, hold funds or execute trades. The Service is a tool used by the advisory firm; the firm, not Borderfolio, advises its clients.
2. Outputs are decision support, not advice
Consolidated values, allocations, performance figures, income projections, withholding estimates, fund comparisons, relocation scenarios and every other output are produced by software from the data the firm supplies and from third-party market and fund data. They are inputs for a professional's judgement. They are not personal recommendations, solicitations or offers to buy, sell or hold any security, and the Service never generates one.
3. Screening figures and their stated assumptions
Cross-border findings are labelled with a confidence level — modelled, estimated, indicative or unavailable — and each states its assumptions, sources and limitations. In particular:
- Only US-source dividend withholding is modelled, at the residence's treaty rate from a stored table, or at the statutory 30% where no W-8BEN is on file. Distributions from other source countries, and fund-level taxes outside Ireland, are reported as unmodelled.
- Clients are treated as non-resident aliens for US purposes. US-person taxation (worldwide income, PFIC rules, FATCA) is not modelled; a client flagged as a US person receives an explicit "unavailable" finding.
- US-situs exposure is compared with the USD 60,000 statutory threshold; estate-tax treaties that raise it are not applied.
- Fund domicile is read from the ISIN; instruments without one are reported as unknown rather than guessed.
- Comparisons between US-domiciled funds and Irish UCITS alternatives come from a curated catalogue with stated match quality, and net withholding saved against the fee difference only where expense ratios are known on both sides. They do not account for capital-gains tax, transaction costs or tracking differences unless the engine says so, and they are structural comparisons, not recommendations to switch.
- Relocation scenarios change only the residence's treaty rate and home dividend tax; exit taxes, deemed disposals, residency start dates and capital-gains treatment on arrival are outside the model.
4. Data may be incomplete, inaccurate or delayed
Figures depend on statements the firm uploads and confirms, on market quotes cached at the valuation date, and on exchange rates. Where a holding cannot be priced, the Service marks totals as unavailable rather than showing a partial figure. Statements extracted with the help of automated systems may contain errors and are presented for review before confirmation. The firm is responsible for verifying every figure before relying on it or giving it to a client.
5. Performance figures
Time-weighted and money-weighted returns are computed from the confirmed transaction ledger and monthly valuations and are shown only when the ledger is complete; otherwise the blocking reason is stated. Past performance does not indicate future results. Expected income projects trailing distributions onto current holdings and is not a forecast of what will be paid.
6. Professional responsibility
The advisory firm is solely responsible for the suitability of any advice it gives, for compliance with the regulatory, professional and disclosure obligations that apply to it, and for the commentary it adds to reports. Reports mark adviser commentary separately from system analysis and carry this disclaimer on every page.
7. Contact
Questions about this disclaimer: [email protected].