Get the free Form 8621 (Rev. December 2011 ) - Internal Revenue Service

Form 8621 (Rev. December 2011) Department of the Treasury Internal Revenue Service Name of shareholder Information 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. Begin by downloading form 8621 from the official website of the Internal Revenue Service (IRS) or obtain a physical copy from a local IRS office.
2. Carefully read the instructions provided with the form. These instructions will guide you through the process and explain each section in detail.
3. Start filling out the form by entering your personal information, such as your name, social security number, and current address, in the designated spaces.
4. Proceed to Part I of the form, where you will need to provide details about the Passive Foreign Investment Company (PFIC) you have an interest in. This includes the name, address, and taxpayer identification number of the PFIC, as well as the percentage of ownership or shares held.
5. In Part II, you will need to report any excess distributions or gain from the disposition of PFIC stock. Include the necessary information such as the date and amount of distributions or sale proceeds.
6. If you have made any Qualified Electing Fund (QEF) elections, you will need to complete Part III of the form. Include all relevant details regarding the QEF election, including the name and identifying number of the fund.
7. Part IV of the form is used to report information about mark-to-market elections, if applicable. Provide the necessary information regarding the election and the PFIC stock.
8. Make sure to review your filled-out form for accuracy and completeness before submitting it. Attach any supporting documents or additional forms as required.
9. Upon completion, mail the form and any attachments to the address provided in the instructions, or follow the electronic filing instructions if applicable.

Who needs form 8621 rev december:

1. US taxpayers who qualify as shareholders of a Passive Foreign Investment Company (PFIC) need to fill out form 8621 rev December.
2. Individuals who have received distributions or realized gains from the disposition of PFIC stock during the tax year must report these transactions on this form.
3. Taxpayers who have made Qualified Electing Fund (QEF) elections or mark-to-market elections for their PFIC holdings are also required to fill out form 8621 rev December.
4. This form is necessary for individuals who are subject to the PFIC tax rules, which are designed to prevent tax avoidance through certain foreign investments.
5. It is important to consult with a tax professional or refer to the IRS guidelines to determine whether you are obligated to file form 8621 rev December based on your specific circumstances.

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What is form 8621 rev december?

Form 8621 rev december is a tax form used to report ownership in a passive foreign investment company (PFIC) and to calculate the required tax liability.

Who is required to file form 8621 rev december?

Any individual or entity that meets the ownership or attribution thresholds for a passive foreign investment company (PFIC) during the taxable year is required to file form 8621 rev december.

How to fill out form 8621 rev december?

Form 8621 rev december should be filled out by providing the necessary information about the passive foreign investment company (PFIC), including the calculation of relevant income, gains, tax liability, and other required details.

What is the purpose of form 8621 rev december?

The purpose of form 8621 rev december is to ensure proper reporting and taxation of income and gains from ownership in a passive foreign investment company (PFIC).

What information must be reported on form 8621 rev december?

Form 8621 rev december requires reporting of information such as the taxpayer's identifying details, PFIC's identifying details, income, gains, taxes paid, and other relevant information related to the PFIC.