8621
Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund
Form 8621 is the Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. The About Form 8621 page says a U.S. person that is a direct or indirect shareholder of a passive foreign investment company (PFIC) files it if they receive certain direct or indirect distributions from a PFIC, recognize a gain on a direct or indirect disposition of PFIC stock, are reporting information with respect to a QEF or section 1296 mark-to-market election, are making an election reportable in Part II of the form, or are required to file an annual report under section 1298(f).
The filer can be an individual, a corporation, a partnership, an S corporation, a nongrantor trust or an estate, and the form has a box for each. The instructions say a separate Form 8621 is filed for each PFIC in which stock is held directly or indirectly. The December 2025 revision adds a three-letter currency code entry above line 15a and a new line 15e(2) for the amount in U.S. dollars.
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Shareholder name, identifying number, address, tax year and type of shareholder, boxes for excepted specified foreign financial assets and the qualifying insurance corporation election, and the PFIC or QEF name, address, EIN or reference ID number and tax year.
Each class of shares, date acquired, number of shares and value at year end, and the type of PFIC with amounts under sections 1291, 1293 and 1296.
Elections A to H, including the election to treat the PFIC as a QEF, to extend the time for payment of tax, to mark-to-market PFIC stock, and the deemed sale and deemed dividend elections.
Lines 6a to 7c for the pro rata share of the QEF's ordinary earnings and net capital gain, and lines 8a to 9c for the deferred tax under Election B.
Lines 10a to 14c for fair market value, adjusted basis, unreversed inclusions, and stock sold or otherwise disposed of during the year.
Part V covers distributions from and dispositions of stock of a section 1291 fund, with the currency code and excess distribution lines 15 and 16. Part VI reports the status of prior year section 1294 elections and their termination.
The instructions say individuals enter a Social Security number or a taxpayer identification number issued by the IRS, and all other entities enter an EIN. Check one type of shareholder box.
A reference ID number is required only when no EIN is entered for the PFIC. The instructions say it is alphanumeric, has no special characters or spaces, is limited to 50 characters and stays the same from year to year.
Describe each class of shares, the date acquired during the year, the number held and the value at year end. The instructions say periodic account statements provided at least annually may be relied on for value, with stated limits.
Check each election being made. For Election A, the instructions say a separate election is made for each PFIC the shareholder wants to treat as a QEF.
All QEF shareholders complete lines 6a through 7c, and Election B adds lines 8a through 9c. Under a mark-to-market election, lines 10a to 12 cover stock held at year end and lines 13a to 14c cover stock sold or disposed of.
Complete a separate Part V for each excess distribution and disposition. Enter the three-letter currency code above line 15a, the U.S. dollar amount on line 15e(2), and attach the line 16a statement allocating the amount to each day in the holding period.
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The instructions say to attach Form 8621 to the shareholder's tax return (or partnership or exempt organization return) and file both by the due date, including extensions, at the IRS service center where that return is filed.
If no income tax return or other return is required for the year, the instructions say to file Form 8621 directly with the Internal Revenue Service Center, Ogden, UT 84201-0201.
A separate Form 8621 is filed for each PFIC, including each PFIC in a chain of ownership in the circumstances the instructions describe.
The instructions describe an exception to completing Part I for a section 1291 fund when the aggregate value of PFIC stock is $25,000 or less ($50,000 for a joint return) and no excess distribution or gain occurs, and a $5,000 exception for indirect stock.
Several elections can be made on an amended return within 3 years of the due date of the original return. The instructions point to Form 8621-A when that period has expired.
Check the excepted specified foreign financial assets box only if the filer also files Form 8938 and counts this form on line 4 of Part IV of Form 8938.
8621-A
117 fields, 4 pages
5471
437 fields, 6 pages
8938
131 fields, 2 pages
8886
98 fields, 2 pages
1040
199 fields, 2 pages
1120
481 fields, 6 pages
The instructions say a U.S. person that is a direct or indirect shareholder of a PFIC files Form 8621 for each tax year in the five circumstances the About page lists.
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Yes. The instructions say a separate Form 8621 is filed for each PFIC in which stock is held directly or indirectly.
The instructions say to file it directly with the Internal Revenue Service Center, Ogden, UT 84201-0201.
The instructions say it meets the income test (75% or more of gross income is passive income) or the asset test (at least 50% of the average percentage of assets produce, or are held to produce, passive income).
For Part I, the instructions describe a $25,000 exception ($50,000 on a joint return) for a section 1291 fund when there is no excess distribution or gain, and a $5,000 exception for indirect ownership.
The instructions say a U.S. person that owns PFIC stock through an individual retirement plan or annuity, among other listed tax-exempt accounts, is not treated as a shareholder of the PFIC.
The instructions list a new three-letter currency code entry above line 15a and a new line 15e(2) that reports the line 15e(1) amount in U.S. dollars.