Hi,
I held a single PFIC total amount is below $1000, during all fiscal year, and I produced no excess distribution under the 125% rule. (There was a distribution but it's value is lower than 1.25 x average of 3 last year distribution). As a result of the de minimis rule I shouldn't file form 8621.
However, this PFIC held some small interests that were reported as such.
While I understand form 8621 should not be filed, should I have it to form 8938? And if yes, is it an asset, or should I just mention the account containing the PFIC contract? The logic is that it's still a foreign account/insurance product and should be declared in Form 8938 in the absence of other forms.
Thanks in advance
PS: I am required to file 8938 in any case due to the aggregated value of my foreign checking and savings accounts.
