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  • Form 8621, Page 1 Of 2

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3 TLS, have you transmitted all R text files for this cycle update? Date I.R.S. SPECIFICATIONS TO BE REMOVED BEFORE PRINTING INSTRUCTIONS TO PRINTERS FORM 8621, PAGE 1 of 2 MARGINS: TOP 13mm (1 2.

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Penalties for failure to file Form 8621 could include a $10,000 penalty (under Form 8938), and suspension of the statute of limitations with respect to the U.S. shareholder's entire tax return until Form 8621 is filed.

Exceptions to the annual filing requirement If a PFIC shareholder does not receive a payment from the PFIC or does not receive gains from the sale of the PFIC stock, and either: The combined value of all PFIC stock at the end of the PFIC shareholder's tax year does not exceed $25,000 ($50,000 for joint filers); or.

For those filing single or married filing separately, form 8621 must be filed in any year that their total number of PFICs exceed $25,000. For married filing jointly, the combined PFIC ownership must exceed $50,000 for the form to be required.

There are two exceptions to the PFIC rules. The first is called the De Minimis Holdings rule, which says that the rules will not apply if the yearend value of all PFICs owned by the US Person does not exceed $25,000 ($50k for MFJ).

As a U.S. citizen living and working abroad, you may have opened a foreign mutual fund investment account. If you've received any income from these funds in the past year, you're required to report it using U.S. tax Form 8621.

There are no threshold ownership requirements for PFIC investments, so even a 1 percent investment in a PFIC may have consequences for the shareholder. Fair market value for publicly-traded corporations. Adjusted basis for controlled foreign corporations (CFCs)

The PFIC investment is held indirectly through a foreign partnership and you meet the $25,000 minimum exception for reporting; Your holding is an indirect interest in a Section 1291 Fund and the value of that interest is no more than $5,000.

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  • 216mm
  • 11d
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  • 279mm
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  • Post-1986
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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232