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April 2017 International Tax Lunch: Reporting PFICs with Insufficient Data

Reporting PFICs with Insufficient Data

What do you do when you need to report a PFIC but lack the necessary information to do so? This is a common scenario for PFICs held in foreign tax-deferred accounts that are not deferred in the US, or when a taxpayer has held a PFIC for many years and no longer has all of the records. This presentation will discuss what data is needed when completing Form 8621, what issues may arise as a result of not having complete data, and strategies for preparing Form 8621 with partial data.

Presenter: Debra Rudd

Materials: Dropbox