This course gives detailed review to the United States tax rules for passive foreign investment companies. It reviews how a foreign entity becomes a PFIC – reviewing the income and asset test for PFIC determinations, along with checklist review of what should be done when determining if a foreign entity is a PFIC.

Learning Objectives
  • Discover and know how to determine whether a foreign entity is a passive foreign investment company.
  • Explore and understand the default rules for PFIC taxation and elections available to alter the same (QEF and MTM elections).
  • Identify and learn how PFIC interests are reported for tax return purposes.
Last updated/reviewed: March 14, 2024
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to International Tax: PFICs8:24
  Passive Foreign Investment Companies15:21
  Taxation of PFIC Interest12:28
  Default Rules for PFIC Taxation and Elections12:40
  Reporting PFIC Shares5:01
CONTINUOUS PLAY
  International Tax: PFICs53:54
SUPPORTING MATERIAL
  Slides: International Tax: PFICsPDF
  International Tax: PFICs GlossaryPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam