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12:06
YouTube
Jason D. Knott
IRS Form 8621 - How to Complete QEF Election for a PFIC
A U.S. person who 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 ...
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