Revision December 2025
New Part V lines on page 3 of Form 8621. In the entry space provided for the new line above line 15a, filers are required to enter a three-letter currency code.
New line 15e(2) requests filers to report the line 15e(1) amount in U.S. dollars. If the amount on line 15e(1) is in a foreign currency, filers must convert the amount to U.S. dollars.
Line 15 Instruction changes:
In the entry space provided above line 15a, enter the three-letter currency code of the currency used on lines 15a through 15e(1).
Currency codes are available at https://www.six-group.com/en/products-services/financial-information/data-standards.html#scrollTo=currency-codes
The excess distribution must be determined in a single currency. In general, the excess distribution must be calculated in U.S. dollars. Each distribution is translated into the U.S. dollar at the spot rate on the date on which such distribution is made. However, if all distributions that must be taken into account for purposes of calculating the excess distribution are made in a single foreign currency, the excess distribution must be calculated in the currency in which the distributions are made. Each ratable portion of a total excess distribution determined in such foreign currency is then translated into U.S dollars at the spot rate on the date of the distribution to which the ratable portion is allocated. See section 1291(b)(3)(E) and Proposed Regulations section 1.1291-2(d)(4).
Line 15e(1)
Nonexcess distribution. The nonexcess distribution is the lesser of line 15a or line 15d. This amount is taxed according to the rules of section 301. To the extent that section 301(c)(1) is applicable, include the amount as a dividend on your income tax return. For corporations, include this amount on Form 1120, Schedule C, line 14. For individuals, include this amount on Form 1040, line 3b (and, if applicable, on Schedule B (Form 1040), line 5).
Excess distributions. If you received more than one distribution during the tax year with respect to the applicable stock, the excess distribution is apportioned among all actual distributions. Each apportioned amount is treated as a separate excess distribution.
