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Passive Foreign Investment Company - PFIC
What does it mean?
A foreign company whose income is 75% passive or has over 50% of its assets in investments earning interest, dividends, and/or capital gains.
In Other Words...
Ownership in this type of company creates tax implications for American investors because the IRS handles the taxation of profits differently.
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Related Terms
Asset | Capital Gain | Foreign | IRS | Passive Income
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