IRS Form 8621 - How to Complete QEF Election for a PFIC

A U.S. person that directly or indirectly owns stock in a passive foreign investment company (PFIC) needs to complete Form 8621 and include it with their annual tax return.

PFICs have certain default treatments, but a shareholder can make an election to either treat the PFIC as a Qualified Electing Fund (QEF) or a Mark-to-Market (MTM) election.

In this video I discuss the QEF election for the Form 8621.

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DISCLAIMER: I am a licensed attorney and certified public accountant (CPA) in the State of Florida. I am not a financial advisor. The information provided in this video is for entertainment purposes only. No such communication is provided in the course of an attorney-client relationship, and no communication is intended to constitute legal advice. You should speak with your own tax and legal professionals to discuss your circumstances before performing any of the tax, legal or accounting strategies demonstrated in this video. Thank you.