- Nov 19, 2001
- 30,322
- 4
- 0
Form 8621
For the "Central Fund of Canada Limited" i.e. CEF, "Sprott Physical Gold Trust" i.e. PHYS and "Sprott Physical Silver Trust " i.e. PSLV.
Part I: #1 Is this the name of the fund or a description ?
I think this is correct. For parts II and III
Part II: Box A >Check
Part III: 6 a,b,c >Zero
7 a,b,c >Zero
And do I file this form every year I own these or only the years I buy or sell?
NOTE: I own this in a IRA and a cash account.
I can usually muddle my way through but this forms instructions are unclear to me.
.
I will admit, I'm not that familiar with this topic, however IRS instructions for Form 8621, state:
Who Must File
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.
Recognizes gain on a direct or
indirect disposition of PFIC stock,
3.
Is reporting information with
respect to a QEF or mark-to-market
election,
4.
Is making an election reportable
in Part II of the form, or
5.
Is required to file an annual report
pursuant to section 1298(f)
So, it depends