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CoCounsel Legal
Transform your work with the only AI legal solution uniting research, drafting, and document analysis in a single experience. Designed by legal experts and built on trusted content and advanced AI, CoCounsel Legal accelerates multistep work so you can better serve your clients and grow your business.
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CoCounsel Tax
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CLEAR
Powerful software designed for law enforcement, compliance, risk, and fraud investigators. Conduct thorough investigations with ease using our intuitive online investigation software. Efficiently, prevent, detect, and solve crime.
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2026 SKILLS showcase
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Ghosts on the ledger
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Future of professionals report 2025
The Thomson Reuters Future of Professionals Report 2025 reveals how AI continues to shape professional work — and what it takes to get ahead. This year’s report shows that increased efficiency, productivity, and cost savings top the list of benefits professionals attribute to AI, making it indispensable for organizations facing rapid change.
Screen 8621 - Passive Foreign Investment Company or Electing Fund (1120)
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General Information
Unit
The next available number is automatically entered. Override this number if necessary, but do not leave the field blank. This field is used to gather and coordinate information for the business unit activity.
Excepted specified foreign financial assets are reported on this form
Enter
X
in this field if you are filing Form 8938 – Statement of Specified Foreign Financial Assets, and including this form in the total number of Forms 8621 being filed on Form 8938, Part IV.EIN / Reference ID number
If the foreign investment company does not have a U.S. employer identification number, enter
ForeignUS
in the Employer identification number field. You must also enter a Reference ID number which is a number the taxpayer assigns to identify the foreign company. Refer to Form 8621 instructions for more information.Income From a Qualified Electing Fund
Portion of the above ordinary earnings included in income
Enter the portion of the pro rata share of the ordinary earnings of the qualified electing fund that is included in income under section 951 or that may be excluded under section 1293(g).
Portion of the above gain included in income
Enter the portion of the pro rata share of the total net capital gain of the qualified electing fund that is included in income under section 951 or that may be excluded under section 1293(g).
Ordinary earnings and capital gains not included in above total cash and fair market value
Enter the portion of the ordinary earnings and the capital gain that has not already been included in the total amount of cash and fair market value of other property distributed or deemed distributed. The portion must be attributable to shares in the qualified electing fund that the shareholder disposed of, pledged, or otherwise transferred during the tax year.
Total tax for the tax year
Enter the total tax on taxable income as reported on Schedule J of your tax return. Include your share of undistributed earnings of the qualified electing fund.