Details

  • Type: Publication series
  • Date: 1/10/2014

United States – PFIC Regs Released: Reporting Required on 2013 Tax Returns 

KPMG LLP (U.S.) reports that on December 30, 2013, the U.S. Internal Revenue Service (IRS) released temporary, final and proposed regulations in relation to passive foreign investment companies (PFICs). The new regulations confirm that U.S. citizens and residents who own shares in PFICs will be required to provide annual reporting on Form 8621 for all PFICs starting with their 2013 income tax returns (subject to certain exceptions).
 

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