PFIC or Passive Foreign Investment Company

WHAT IS FORM 8621, WHO SHOULD FILE AND HOW IS IT FILED What is Form 8621? This form is an information return by a shareholder of a PFIC or Passive Foreign Investment Company or QEF or Qualified Electing Fund. The form is intended to be filed to calculate the tax that is due on any “excess distribution” coming from a PFIC. Excess distribution is distribution following the first year that is more … [Read more...]