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  1. The Form 8621 is attached to your Form 1040 if you own PFIC stock. Foreign mutual funds are PFICs. So you’d have to do Form 8621 if you own foreign mutual funds.


  2. I agree… there is nothing in 2011 ovdi talking about submitting 8621 form. Phil or Dave can you comment… if these forms are required submission for the ovdi

  3. For 2011, they’ve said in effect — if you use our method, calculate your gains and losses, just add the gain or loss to your final tax for a year.

  4. Completely agree, but with one caveat. For clients in the 2009 program, the IRS doesn’t seem to care. And that probably goes ditto for 2011. At this point they seem to just want to cash checks (in the right amount) with as little effort on their part as possible.

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Tax laws change over time, and the information in this post above may be less accurate today than it was at the time of the last revision. This post is not tax advice for your specific situation. Please contact an international tax professional to get personalized advice for your situation.