Passive foreign investment company (PFIC) compliance

What is a PFIC? It is a Passive Foreign Investment Company. Most PFICs are pooled investments (such as pension or benefit plans, mutual funds, or hedge funds) that generate passive income and are registered outside the United States and meet one or more of the IRS criteria for foreign companies.

Are you a US resident who has ownership in a PFIC? Are you uncertain concerning ownership? Are you aware you may be an indirect shareholder in a foreign investment?

There are filing requirements if any of the above applies to you.                                         

We can help answer your questions and assist you with reporting compliance to avoid costly penalties.