PFIC Training Series – PFIC Masterclass: Section 1291

Part 2

Instructor: Mary Beth Lougen, EA, USTCP
IRS Program Number: NMVBP-T-00111-18-O

This webinar will instruct in both the details and computations required to complete Form 8621 under the default §1291 regulations. This is a course aimed at practitioners that have an intermediate level of understanding of PFIC taxation. The materials will be computation-intensive and will cover both §1291 theory as well as application on Form 8621.

Learning Objectives:

• Describe the overall §1291 mechanism and its purpose.
• Compute both excess and non-excess distribution amounts under §1291.
• Complete a basic Form 8621 using the §1291 regime.
• Transfer the tax items from a completed Form 8621 using the §1291 regime to the tax return.