Get the free Form 8621 (Rev. December 2016). Information Return by a Shareholder of a Passive For...

Form8621(Rev. December 2016) Department of the Treasury Internal Revenue Service Name of shareholderInformation Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing

How to fill out form 8621 rev december

How to fill out form 8621 rev december

1. To fill out form 8621 rev December, follow these steps:
2. Start by providing your name, social security number or taxpayer identification number, and the tax year you are filing for.
3. Indicate whether you are an individual or corporation.
4. Enter the country or jurisdiction where the passive foreign investment company (PFIC) is located.
5. Provide the name and address of the PFIC.
6. Fill in the information regarding your ownership interest in the PFIC, including the number of shares or units held and the dates of acquisition and disposition.
7. Calculate the income and gains attributable to the PFIC and report them accordingly.
8. Follow the instructions for Part II of the form to determine any applicable tax, interest, or penalties.
9. Fill out the remaining sections of the form as required, including any additional information and disclosures.
10. Sign and date the form before submitting it to the IRS.
11. Keep a copy of the completed form for your records.
12. It is recommended to consult a tax professional or refer to the IRS instructions for Form 8621 rev December for detailed guidance.

Who needs form 8621 rev december?

1. Form 8621 rev December is needed by individuals or corporations who have an ownership interest in a passive foreign investment company (PFIC) and need to report their income, gains, and other relevant information related to the PFIC.
2. This form is required for U.S. taxpayers who meet certain ownership or investment threshold requirements set by the IRS.
3. It is important to determine if you qualify as a PFIC owner and consult with a tax professional or refer to the IRS guidelines to confirm if filing Form 8621 rev December is necessary in your specific situation.

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What is form 8621 rev december?

Form 8621 rev December is used to report information about a controlled foreign corporation (CFC) or a foreign investment company (PFIC) to the IRS.

Who is required to file form 8621 rev december?

Any U.S. person who is a shareholder of a CFC or PFIC is required to file form 8621 rev December.

How to fill out form 8621 rev december?

Form 8621 rev December requires information such as the name of the CFC or PFIC, the type of income received, and the taxpayer's share of the income.

What is the purpose of form 8621 rev december?

The purpose of form 8621 rev December is to report income from foreign investments and ensure compliance with U.S. tax laws.

What information must be reported on form 8621 rev december?

Information such as the name of the CFC or PFIC, type of income received, and taxpayer's share of the income must be reported on form 8621 rev December.