Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies
other · IRS · Rule · Published 2016-12-28 · Effective 2016-12-28 · 81 FR 95459
Document
Document number
2016-30712
Federal Register citation
81 FR 95459
CFR reference
26 CFR 1
Type
Rule
Action
Final regulations and removal of temporary regulations.
Category
other
Sub-agency
IRS
Publication date
2016-12-28
Effective date
2016-12-28
Treasury docket
TD 9806
Abstract
This document contains final regulations that provide guidance on determining ownership of a passive foreign investment company (PFIC) and on certain annual reporting requirements for shareholders of PFICs to file Form 8621, "Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund." In addition, the final regulations provide guidance on an exception to the requirement for certain shareholders of foreign corporations to file Form 5471, "Information Return of U.S. Persons with Respect to Certain Foreign Corporations." The regulations finalize proposed regulations and withdraw temporary regulations published on December 31, 2013. The final regulations affect United States persons that own interests in PFICs, and certain United States shareholders of foreign corporations.