Home › Categories › Business & Finance› AICPA Passive Foreign Investment Company (PFIC) Checklist

AICPA Passive Foreign Investment Company (PFIC) Checklist.pdf

161226_AICPA_PFIC_Individual_Checklist.pdf

Preview of AICPA Passive Foreign Investment Company (PFIC) Checklist

🔗 Source: steuerberater-usa.cpa

📊 Size: 88 KB

📄 Pages: 6 pages

⬇️ Downloads: 160

Summary

The purpose of this checklist is to assist tax return preparers in identifying issues concerning Passive Foreign Investment Companies (PFICs) for 2013 tax returns. Key points include:
- Disclosure of direct and indirect PFIC ownership is required on Form 8621, unless an exception is met.
- Failure to comply with Form 8621 disclosure requirements will suspend the statute of limitations for the entire tax return.
- Partners with over 50% interest in a partnership must report the partnership's PFIC assets on FinCEN Form 114.
- The checklist guides tax preparers through questions about domestic and foreign partnership investments, PFIC elections, and filing requirements for various forms, including Forms 8621, 5471, and 926.

Download File

Description

The purpose of this checklist is to assist tax return preparers in identifying issues concerning Passive Foreign Investment Companies (PFICs) for 2013 tax...

Technical Information

File Format: PDF
File Size: 88 KB
Pages: 6
Language: EN
Total Downloads: 160
Last Updated: 3 days ago

Document Overview

This PDF document about AICPA Passive Foreign Investment Company (PFIC) Checklist provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into AICPA Passive Foreign Investment Company (PFIC) Checklist.