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PASSIVE GROUP APPLICATION FORM

PASSIVE GROUP APPLICATION FORM

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diligent Savers beware if you're an expat and you're saving for retirement you really need to watch this video today we are going to be discussing prefix or passive foreign investment companies these are probably the most toxic thing that touches most Americans living overseas [Music] so passive foreign investment companies came about in 1986 when some new regulations were put in place to try and close some loopholes that folks were using to Shield offshore Investments basically to stop people from deferring tax on passive income earned through non-us corporations in 2013 the rules were updated such that anyone owning a prefect directly or indirectly had to report it each year even if distributions were not received prefix are reported on form 8621 and this is the information returned by a shareholder of a passive foreign Investment Company or qualified electing fund what is this what is a passive foreign Investment Company so a foreign entity would be considered a prefix or a passive

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