This course gives a broad overview of the tax law related to passive foreign investment companies, or PFICs.  Failing to properly file Form 8621 can expose your client to both onerous penalties and an unlimited statute of limitations for the assessment of tax.  Even though the PFIC provisions are among the most complicated and punitive sections of the Internal Revenue Code, we will explain PFICs in plain English so you can explain them to your clients.

Learning Objectives:

  • Explain what qualifies as a PFIC and how to identify them.
  • Describe when a taxpayer must file Form 8621. 
  • Compare and contrast the three different taxation regimes for PFICs.
  • Understand the potential penalties & statute of limitation issues with PFIC non-compliance.


Your registration includes 2 IRS CE as well as:

  • Downloadable course manual and implementation tools as appropriate. These materials are available for download when you log into the webinar.
  • The opportunity to listen to the optional presenter and the other members of the Compass Tax Educators instructional team during the optional question-and-answer session held during the original recording.


Prerequisite: None

Advanced Preparation: None

Program Level: Basic

IRS Program Number for Self-Study On-Demand Webinar: NMVBP-T-00110-18-S

Delivery Method: Self-study/On-demand

Field of Study: Federal Tax Law (IRS)

Credit hours: 2 IRS

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators.  See below for more information regarding administrative policies, such as complaints or refunds, or contact Sherrill Trovato, EA, USTCP, President of Gregory & Associates, Inc., at 714.777.9359.  There are no prerequisites or advanced preparation required for this webinar.  

IRS Provider Number: NMVBP This webinar has been designed by Gregory & Associates, Inc. to meet the requirements of the IRS Return Preparer Office, including sections 10.6 and 10.9 of Department of Treasury's Circular No. 230.  This does not constitute an endorsement by the IRS RPO.

Webinar Policies, Refunds, Cancellations: 

CE credits are available on the on-demand webinars only by receiving a passing score of 70% on the quiz that is available to you after completion of the on-demand webinar.  The quiz must be completed within 3 months of the date the on-demand webinar is purchased to qualify for CE credit.  Upon completion of the quiz, send an email to sherrilltrovato@gmail.com with your name and PTIN if you wish to have IRS CE credit uploaded on your behalf and your PTIN doesn't appear on the certificate.

Compass Tax Educators provides high quality instruction and content.  There are no refunds for the purchase of on-demand webinars, but if you experience technical difficulties while viewing a webinar, contact us to resolve the issue.

If you have any questions regarding our refund policy, or any other administrative policy, please contact Sherrill Trovato, EA, USTCP at 714.777.9359 or Geri Bowman, CPA, EA, USTCP at 330.628.0415.

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