Form 8621 PFIC Reporting- Passive Foreign Investment Company-Online Webinar

Wednesday, Mar 22, 2017 at 10:00AM - 1:00PM

Event Details

This webinar will furnish tax advisers with a thorough and practical guide to the reporting of investments in a passive foreign investment company (PFIC) on IRS Form 8621. The webinar will identify those investments that require PFIC reporting and outline the various elections available to taxpayers holding interests in PFICs and discuss the tax implications of those elections and will provide an example of a completed Form 8621 to illustrate reporting requirements.

Objectives Of The Presentation
After completing this course, you will be able to:
  • Identify investment holdings that require reporting as a PFIC on IRS Form 8621
  • Recognize the elections available to minimize the impact of PFIC holdings on filing
  • Discern the specific requirements for making the elections
  • Ascertain tax impacts of PFIC elections
  • Recognize a properly completed Form 8621
Why Should you Attend
Among the most complex of IRS requirements affecting individual taxpayers are the rules for PFICs. Taxpayers owning interests in PFICs have a significantly higher reporting burden than U.S. taxpayers owning interests in U.S.-based mutual funds. Further complicating matters is that, unlike U.S.-based funds, foreign investments have no obligation to furnish U.S.-based investors with any tax reporting information, so the responsibility falls entirely on the shareholder to determine ownership share and tax obligations arising from that share.

In recent years, the IRS has issued several Notices to provide guidance in clarifying the reporting obligations of PFIC holdings. The result of this guidance is that more taxpayers are filing Form 8621 than in the past.

While the thresholds for determining whether an investment qualifies as ownership of a PFIC seem relatively straightforward, there are exceptions and exclusions to those definitions. Further, the Code provides for elections for the taxpayer to elect out of the "tax and interest" regime of IRC 1291. However, each method of electing out of PFIC treatment has tax and reporting consequences, and tax advisers must have a thorough knowledge of the tax impact of these elections in advising their clients.

Areas Covered
  • Types of foreign investments that must be reported as PFIC holdings
  • Calculating the "tax and interest" on PFICs under IRC 1291
  • Available elections to opt out of PFIC treatment
  • Tax effects of these elections, from a tax due and a reporting standpoint
  • Completing a Form 8621 to report PFIC holdings, including reporting elections
Who will Benefit
  • Tax Return Preparers
  • Tax Advisors & Securities Dealers.

For Registration


Note: Use Promo code PTY2D and get 10% off on registration (Valid till MARCH 31st 2017)

Organization Details

Online Compliance Panel (OCP) creates and delivers comprehensive industry relevant training sessions. These sessions are simple, interactive and cost effective. We are a predominantly web based information exchange forum. Live interactions on compliance training make the process holistic and effective. OCP largely emphasizes in offering regulatory compliance training to compliance professionals on varied topics. These primarily include risk management, quality management, corporate compliance and other regulatory compliances. Some of our primary areas of focus include advancement and updates in regulatory compliance, best practices and market trends.

We strive to incorporate high standards in developing a culture facilitating exchange of ideas resulting in functional excellence. OCP believes in nurturing ideas and thought processes through innovative e-learning methodologies. Our products and services are designed to offer customized solutions to industry and market. We bridge the gap between experience and knowledge thus delivering original and creative content.

Our objectives of employing interactive mediums ensure effective communication and mutual exchange of ideas. OCP closely follows best practices and regulatory trends in the global compliance scenario. We also observe and communicate trends witnessed in FDA, ISO regulations, process and design validation. All updates and additions to important laws can be accessed by our customers in real time.

Our mission is to empower compliance professionals through effective online training sessions. Our world class training methodologies stem from comprehensive understanding of client requirements. The content conforming to FDA and ISO standards is developed by well qualified and experienced industry leaders. Our offerings will exceed expectations and add value to your investment.

The content in various categories such as medical devices, pharmaceuticals and biotechnology will raise the bar in terms of quality already on offer .We hope to contribute to the creation of responsible organizations creating benchmarks in quality, integrity and transparency.

Online Event
38780 Tyson Lane, Apt 210
Fremont 94536

Starts March 22, 2017 at 10:00AM - 1:00PM

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Contact Information

Organization: Online Compliance Panel LLC

Event Contact: OCP Panel

Phone: 15108575896