Form 8621: A Must-Know for U.S. Taxpayers with Foreign Investments
If you’re a U.S. taxpayer investing abroad, Form 8621 might be on your radar. It’s used to report income, distributions, or even ownership in Passive Foreign Investment Companies (PFICs) — often foreign mutual funds or similar entities. Here’s a quick breakdown: 🔹 Who Needs to File? If you own shares in a PFIC (directly or…
