PFIC tax filing for US expats.
From holdings to Form 8621.

The short answer

What is a PFIC?

How it works

From a pile of foreign funds to a reviewable draft in three steps.

PFIC software · FAQ

Honest answers before you start.

What does PFIC reporting mean for US expats?

A U.S. person generally files a separate Form 8621 for each PFIC when one of the form’s filing circumstances applies; exceptions and indirect-ownership rules can change the result. Tax treatment may fall under §1291 or a valid QEF or mark-to-market election, each with its own requirements. An expat’s foreign brokerage account is not itself a PFIC; a pooled investment inside it may be. FBAR and Form 8938 are separate account or asset reporting tests. Certain missing international information returns can affect the limitations period under §6501(c)(8), subject to the statute’s rules.

Do you e-file the return for me?

Atamatax generates a draft PDF package: an official Form 8621 PDF for each supported PFIC input, plus mapped 1040 and supporting-schedule worksheets. You or your CPA review the notes, complete any remaining fields, and file it with the instructions provided.

What does $499 actually cover?

A draft expat return package with PFIC analysis: mapped Form 1040 and Schedule B/D figures, up to 25 Form 8621 PDFs for the methods and inputs the engine supports, fund-domicile classification, Form 8938 (FATCA) and FBAR threshold checks, and Form 1116 mapping for the foreign tax credit. The package calls out items that still need review or completion. One flat price, no per-form add-ons.

What if I have more than 25 PFICs?

The $499 tier covers up to 25 supported Form 8621 drafts. If you hold more, get in touch before purchase to confirm whether the product fits your case.

Does holding a fund inside a foreign pension or insurance wrapper remove the Form 8621 requirement?

This is genuinely contested, and a page that answers it flatly in either direction is overstating what is known. The funds themselves are unaffected by the wrapper: a UCITS ETF is a non-US pooled vehicle whether an ISA, an assurance-vie, a SIPP or a Pillar 3a account holds it. What is argued about is whether the wrapper changes who the PFIC shareholder is, and whether a tax-favoured retirement arrangement takes the holding outside the shareholder rules. Some arrangements have specific relief and most do not, and the answer turns on the arrangement's own terms rather than on what it is called locally. Atamatax identifies the wrapper and the holdings, states the assumption it is running under, and routes an unsettled wrapper question for professional review rather than picking the answer that produces less work.

Which method should I pick for each fund?

Eligibility and timing matter. A QEF election generally needs the PFIC’s Annual Information Statement and must meet election rules; mark-to-market is available only for stock that meets the qualified-marketability requirements; §1291 may apply when no effective alternative election governs. Prior years, late elections, holding history and available records can change the analysis. Our method guide and estimator are educational screens, not a recommendation for your facts.

Is your fund a PFIC?

The UCITS ETFs US expats ask about most.

These conventional non-US UCITS funds commonly meet a PFIC test, while the gold ETC entries require a legal-wrapper review. Check the specific vehicle, then determine whether Form 8621 applies to your facts.