Introduction to PFIC Tax and Reporting: Passive Foreign Investment Companies (Golding and Golding).

https://www.goldinglawyers.com/pfic-what-is-it/

While there are many complicated aspects to international tax and reporting, the IRS requirements for having to report Passive Foreign Investment Companies (PFIC) are some of the most daunting and complex. Technically, the PFIC is an acronym for Passive Foreign Investment Company, and U.S. taxpayers worldwide (including U.S. Expats) who meet the reporting requirements, may have to report their PFICs on various international information reporting forms each year such as the FBAR and Form 8621. There are only a handful of international tax law firms across the globe that represent taxpayers consistently in PFIC matters. At Golding & Golding, we specialize in international tax, with a focus on international reporting and PFIC compliance for taxpayers who are already out of compliance. Over the past several years, we have written many articles on issues involving PFIC tax and reporting but wanted to take a step back and provide an introductory understanding of the PFIC and whether or not you may be required to report your PFIC to the IRS and FinCEN.

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