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What does PFIC stand for?

PFIC stands for Passive Foreign Investment Company

This definition appears very frequently and is found in the following Acronym Finder categories:

  • Business, finance, etc.

See other definitions of PFIC

Other Resources:
We have 2 other meanings of PFIC in our Acronym Attic

Samples in periodicals archive:

Section 1296 of the Internal Revenue Code of 1986, as amended, defines a passive foreign investment company (PFIC) as any foreign corporation which, in any taxable year, has either more than 50 percent of its assets invested to generate passive income or has more than 75 percent of its gross income in passive income.
The QEF election is made on Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund, and must reflect the information provided in either the PFIC annual information statement, annual intermediary statement, or applicable combined statement for the tax year of the PFIC ending with or within the tax year for which Form 8621 is being filed (Regs.