Get Form 8621 (rev. December 2016). Information Return By A Shareholder Of A Passive Foreign Investment

Form 8621 is used for reporting information by shareholders of Passive Foreign Investment Companies (PFICs) or Qualified Electing Funds (QEFs). This guide provides step-by-step instructions on how to complete the form accurately and effectively online, ensuring you meet your reporting obligations.

Follow the steps to complete the Form 8621 online effectively.

1. Press the ‘Get Form’ button to retrieve the form and open it in your preferred online platform.
2. Begin by entering your personal details at the top of the form, including your name, address, and identifying number. Ensure accuracy to avoid processing delays.
3. Indicate the shareholder type by checking the appropriate box (individual, corporation, partnership, etc.).
4. Record the tax year for your reporting as either the calendar year or a specified financial year.
5. In Part I, summarize your shares of the PFIC by describing each class of shares, including the number held and their value at the end of the taxable year.
6. Complete Part II by making any applicable elections regarding your PFIC shares. Ensure that you carefully read the instructions for each election option.
7. In Part III, provide your pro-rata share of ordinary earnings and net capital gains from the QEF. Include additional calculations as instructed.
8. Continue to Part IV and report any gains or losses from mark-to-market elections and other relevant transactions.
9. In Part V, detail any distributions you received and assess for excess distributions based on the calculations provided.
10. Complete Part VI if applicable, focusing on the status of any prior year Section 1294 elections and their termination.
11. Review all entries for accuracy and completeness. Once confirmed, you can save changes, download, print, or share the completed form.

Start filling out your Form 8621 online today to ensure compliance and accurate reporting.