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TD 9806: Definitions and Reporting Requirements for Shareholders of Passive Foreign Investment Companies

Date: 2016-12-28
Links to Federal Register: HTML, PDF (Proposed Regulation: REG-140974-11 / TD 9650 HTML, PDF)
Document Number: 2016-30712, RIN: 1545-BK66
Action: Final regulations and removal of temporary regulations.

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.

Word frequency
Notable phrases   Frequency
United States person(s)      91
excess distribution      39
file Form 8621      33
directly or indirectly      29
required to file      24
marked to market      11
shareholder of a PFIC      10

Reg. Cites   Frequency
1.1298-1      9
1.1291-1(b)(8)      8
1.1291-1      7
1.1298-1(c)(1)      6
1.1291-1(b)(8)(ii)(A)      6
1.1291-1(c)(4)(ii)      6
1.1291-1T(b)(8)(ii)(C)      6
1.1291-9      5
1.6046-1      5
1.1291-1(b)(7)      5
1.1291-1T(b)(8)(ii)(A)      5
1.6038-2      4
1.1296-1(i)(2)      4
1.6012-1(b)(2)(ii)(a)      4
301.7701(b)-7(b)      3
1.1298-1T(c)(2)      3
1.1298-1T(b)(3)(ii)      3
1.1291-1(b)(8)(ii)(C)(1)      3
1.1291-1(b)(8)(ii)(C)      3
1.1291-1(b)(8)(ii)(B)      2

Sec. Cites   Frequency
1298(f)      70
1291      49
1296      21
1295      10
671      5
1291(b)      4
1298(a)      4
7701(a)(31)(B)      3
1298(a)(2)(B)      2
501(c)      2
501(a)      2
1291(a)(2)      2
7701(a)(30)(E)      2
1298      2
6501(c)(8)(B)      2
6501(c)(8)      2
1291(a)(2)      2
6114      2
931      2

Authorities Referenced:


Statistics

Number of pages: 12, words: 13,846, sentences: 435
Average words per sentence: 31