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What is a passive foreign investment company (PFIC)?

April 26, 2017COMPANY foreign Investment passive pfic

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What is a passive foreign investment company (PFIC)?

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• The term means any foreign corporation if 75% or more of the gross income of such corporation for the taxable year is passive income, and the average percentage of assets held by such corporation during the taxable year which produced passive income or which are held for the production of passive income is at least 50%.