Search Results
Form 8621 is used by U.S. persons who have a direct or indirect interest in a passive foreign investment company (PFIC) or a qualified electing fund (QEF). It reports distributions, gains, elections, and annual information related to PFICs or QEFs.
- Corporations
Information about Form 1118, Foreign Tax Credit -...
- Form 8621 (Rev. December 2018)
No. 64174H Form 8621 (Rev. 12-2018) Part III Income From a...
- Instructions for Form 8621
As indicated in the line 19 instructions, for next year, be...
- Corporations
Jan 31, 2024 · Learn how to report and calculate taxes on Passive Foreign Investment Companies (PFICs) using IRS Form 8621. Find out what are PFICs, how to identify them, and how to use QEF to lower your tax rates.
- What Is IRS Form 8621 Used for?
- Who Files Form 8621?
- How to File Tax Form 8621 with H&R Block
- GeneratedCaptionsTabForHeroSec
Tax form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund, is used to report income from foreign mutual funds, also referred to as passive foreign investment companies (PFICs).
If you’re a direct or indirect shareholder of a PFIC and you either received a distribution of income or have met the appropriate filing threshold, you may have to file tax Form 8621. You qualify if: 1. You receive certain direct or indirect distributions from a PFIC 2. You saw a gain on a direct or indirect disposition of PFIC stock 3. You are rep...
You can file Form 8621 online with H&R Block’s Expat Tax Services. You may have to file more than one form—if you’re required to file Form 8621, you must file a form for each PFIC in which stock is held. For example, if you have five funds in your portfolio, you need to file five forms 8621. Because the Form 8621 instructions are incredibly detaile...
Learn how to report income from foreign mutual funds (PFICs) using IRS Form 8621, a tax form for U.S. citizens living and working abroad. Find out who has to file, what qualifies as a PFIC, and how to file Form 8621 online with H&R Block's Expat Tax Services.
People also ask
How scary is form 8621?
What is form 8621?
How do I file Form 8621 online?
What is a PFIC Tax Form 8621?
A PFIC is an investment structure designed by a foreign establishment that meets one of the following qualifications: At least 75% of its income is generated passively. Different types of passive income include: Capital gains, dividends, interest, royalties, and a variety of other types of income for which continuous work is not required.
Learn how to report your ownership of passive foreign investment companies (PFICs) on Form 8621, a complex and important international tax form. Find out the thresholds, penalties, and tips for filing correctly and avoiding offshore disclosure.
