Oversea investment link insurance policy

[Lost_in_taxfiling]

I owned several oversea investment link insurance policies. They were acquired before i relocate to work in US. There are no tax treaty, the policies does not clearly spell out the insurance portion except the death and surrender coverage.

My questions:

1. Do I need to file form 8621 for the funds within each policy? 

2 If i have to file form 8621, which section to fill up?

3. How is the calculation of Section V, line 15 and 16? 

Thank you. 

[DawnC]

Do any of the below apply to you?   If so, you need to file Form 8621 (Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund).   A U.S. person that is a direct or indirect shareholder of a passive foreign investment company (PFIC) files Form 8621 if they:

• Receive certain direct or indirect distributions from a PFIC.
• Recognize a gain on a direct or indirect disposition of PFIC stock.
• Are reporting information with respect to a QEF or section 1296 mark-to-market election.
• Are making an election reportable in Part II of the form.
• Are required to file an annual report pursuant to section 1298(f).

Complete a separate Part V for each excess distribution.   The form and instructions are linked below.   For Lines 15 and 16, the calculations are linked here.  

Form 8621

Instructions for Form 8621