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Consult Us on Form 8621 and PFIC Reporting

Services · Last reviewed October 20, 2026 · Legal and tax review: pending

Most problems with foreign funds come from one of three gaps: the fund was never identified as a PFIC, the wrong tax rules were used, or the numbers do not agree across Form 8621, the FBAR, Form 8938 and the income tax return. We review your funds, work out which forms and years apply, and help you choose a path that fits your history.

What we help with

PFIC analysis

Identifying which holdings are PFICs, the exceptions that apply and the regime for each fund.

Form 8621 preparation

A form and a readable background computation for each fund and year, and where each number goes on your return.

Indian mutual fund statements

Reading consolidated statements, building lots, dividends and sales, and the year-end units and values.

Elections review

Whether a QEF or mark-to-market election is available and what it would change.

Past-year correction

Options for years that were not reported, including amended returns and statements, based on your facts.

Coordination

Making Form 8621, the FBAR, Form 8938 and your return agree.

How it works

  1. Intake: you share a list of your funds and the statements you have. Do not send PAN, Aadhaar, passport or full account or folio numbers through this website.
  2. Review: we identify the forms and years in question and flag the items that need a closer look.
  3. Options: you receive a written summary of the options, their costs and their risks.
  4. Filing: with your approval, we prepare or review the filings and explain each step.
  5. Going forward: we set up the records and a calendar so next year is simpler.

Who we are

Consultations are provided through Prem Tax and Accounting Corp, Aurora, Illinois. The firm’s credentials are listed at SmallTax.com. Engagements are documented in a written agreement. Fees are quoted after intake, based on the number of funds and years. We do not guarantee any tax result or outcome of an IRS review.

Next step

Call the number shown at the top of the page to request an intake, or use the contact form on SmallTax.com. Online intake forms will be added when secure submission is live.

Please do not sendFull Social Security or PAN numbers, Aadhaar numbers, passport numbers, full bank, demat or folio numbers, or passwords through the website or email. We will ask for these only through a secure method agreed at intake.

This page describes services in general terms. Nothing on this site creates an engagement until a written agreement is signed. Professional services depend on the credentials and licenses of the person performing them. See the policies page for terms.