@thalaivar , I don't believe that you have to file 8621 yet -- see this from the instructions of form 8621:
" Passive Foreign Investment Corporation (PFIC)
Generally, a U.S. person that is a direct or indirect
shareholder of a PFIC must file Form 8621 for each tax year
under the following five circumstances if the U.S. person:
1. Receives certain direct or indirect distributions from a
PFIC,
2. ...
"
What I was trying to do in my earlier post to @Nkm171964 , is to bring awareness to the PFIC regs. Many are surprised to find that the ULIPs are generally considered to PFIC ( and not an insurance entity ).
Is there more I can do for you ?
