Get the free form 8621 2009

MUST be removed before printing. Department of the Treasury Internal Revenue Service Rev. February 2008 Use with the December 2004 revision of Form 8621. Sgm Instructions for Form 8621 Draft Init. date Ok to Print 10 07 - 18-MAR-2008 The type and rule above prints on all proofs including departmental reproduction proofs.

How to fill out form 8621 2009

How to fill out form 8621 2009?

1. Start by entering your personal information in the designated sections of the form. This includes your name, address, and Social Security number.
2. Identify the specific tax year for which you are filing the form. Make sure to provide accurate information to ensure proper processing.
3. Indicate whether you are a U.S. citizen or resident alien. If you are a nonresident alien, further information may be required.
4. Proceed to Part I of the form, where you will need to provide details about the Passive Foreign Investment Company (PFIC) you are reporting. This includes the name, address, and employer identification number (EIN) of the PFIC.
5. Supply the necessary information about your investments in the PFIC, such as the number of shares owned, the value of your investment, and any income or gains derived from it.
6. If you have multiple PFIC investments, add the necessary attachments to ensure all investments are properly reported.
7. Move on to Part II of the form, where you will calculate the appropriate taxes and file any elections related to the PFIC investment.
8. Review your completed form for accuracy and ensure all relevant sections have been properly filled out.
9. Once you have verified the accuracy of the form, sign and date it to certify that the information provided is true and complete.

Who needs form 8621 2009?

1. U.S. citizens who own shares or investments in a Passive Foreign Investment Company (PFIC) during the tax year are required to file Form 8621.
2. Resident aliens of the United States who hold PFIC investments are also obligated to complete and submit this form.
3. Nonresident aliens who are engaged in a trade or business within the U.S. and have PFIC investments must file Form 8621.

Note: It is advisable to consult a tax professional or refer to the IRS guidelines to fully understand the specific requirements for filing Form 8621 based on your individual circumstances.

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What is form 8621?

Form 8621 is a tax form used to report and calculate the taxable income of a Passive Foreign Investment Company (PFIC).

Who is required to file form 8621?

Anyone who owns shares of a PFIC or meets the ownership or investment thresholds set by the IRS is required to file form 8621.

How to fill out form 8621?

To fill out form 8621, you need to provide detailed information about the PFIC, including its name, address, and classification. You also need to disclose your ownership percentage, investment income, and the calculations for determining taxable income.

What is the purpose of form 8621?

The purpose of form 8621 is to prevent taxpayers from deferring or avoiding taxes by investing in foreign companies that are classified as PFICs.

What information must be reported on form 8621?

Form 8621 requires reporting of various information, including the PFIC's name, address, annual accounting period, and financial statements. Additionally, you must report your ownership percentage, investment income, distributions received, and the tax calculations.