PFICs and Form 8621: Expat Tax Implications

United States citizens and residents both need to understand the tax implications of having an investment in a foreign financial institution that includes foreign mutual funds. Knowing what a Passive Foreign Investment Company (PFIC) and Form 8621 could save you time and money later on. FATCA, PFIC, Form 8621 and...
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What is PFIC?

American expats living and working abroad expand their investment choices outside of US stocks and US mutual funds. Most of the time US expats have a foreign pension account or they own directly foreign stocks. It is absolutely legal to own overseas investments. The issue that many US expats face...
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PFICs (Passive Foreign Investment Companies) Basics

Most of American expats find the issues of FBAR and FATCA to be confusing. However, many of them do not realize the complexity of tax rules covering Passive Foreign Investment Companies (PFICs). If you believe that this situation is not applicable to you, then read the following story. “Mark who...
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