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Learn how to file Form 8621 if you are a U.S. person who owns or disposes of a passive foreign investment company (PFIC) or a qualified electing fund (QEF). Find the current and previous versions of the form, instructions, and recent updates on the IRS website.
This form is used to report information and make elections regarding a shareholder's interest in a passive foreign investment company (PFIC) or a qualified electing fund (QEF). It includes sections for summary of annual information, elections, deemed sale, deemed dividend, and other disclosures.
Learn how to file Form 8621 to report information and make elections for passive foreign investment companies (PFICs) and qualified electing funds (QEFs). Find out the latest updates, rules, and reminders for 2021 tax year.
Learn how to report income from passive foreign investment companies (PFICs) using IRS Form 8621. Find out who has to file, what are the penalties, and how to file online with H&R Block Expat Tax Services.
Form 8621 is filed with the tax return of a U.S. person that is a shareholder in the PFIC. A PFIC shareholder may be able to alleviate some of Sec. 1291's harsh tax consequences by electing to be a qualified electing fund under Sec. 1295.
Learn how to report and calculate taxes on PFICs, foreign mutual funds, and other offshore entities with IRS Form 8621. Find out the filing requirements, penalties, and voluntary disclosure options for this complex form.
To elect to have your PFIC taxed with the Mark-to-Market Accounting Method, you will need to elect this method with your PFIC account manager and file Form 8621, Information Return for Passive Foreign Investment Company with your U.S. expat tax return.
If you're a U.S. taxpayer holding shares in a foreign mutual fund, a foreign hedge fund, or even a foreign holding company that primarily earns investment income, then Form 8621 is your new acquaintance. It's the IRS's way of keeping tabs on your foreign investments. The criteria: identifying a PFIC The income test
Learn what a Passive Foreign Investment Company (PFIC) is, how to identify it, and why you need to file Form 8621 if you own one. Find out the reporting requirements, deadlines, penalties, and exceptions for PFICs and QEFs.
Learn how to calculate the excess distribution amount and tax for each distribution from a Passive Foreign Investment Company (PFIC) using IRS Form 8621. Follow the steps and examples to understand the PFIC rules and the 125% of the average of the prior three years' distributions formula.