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PFIC Reporting for QEF Election
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Inputs:
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1. Enter your transactions data on the "Transactions" sheet.
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2. Enter in the information from the Annual PPIC Information Statement in the "PFIC Information" sheet.
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3. If the Fund provides Cash Distribution amounts by record Date, input this information into the "Cash Distributions" sheet.
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Results:
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PFIC reporting
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Information for Forms 8621 Part III (lines 6 and 7) "Form 8621 Part III" sheet
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Capital gains reporting
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Information to report on Form 8949 or on Schedule D is in the "Capital Gain Summary" sheet
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Notes:
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- One Form 8621 must be filed for each PFIC that is owned either directly or indirectly.
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- In this example, the fund XEQT has XIC, XEF, and XEC as underlying funds.
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