PFICs Gone Wild!

Monica Gianni

University of Florida - Fredric G. Levin College of Law

March 1, 2013

29 Akron Tax Journal 29 (2014)

This article discusses the U.S. tax rules for passive foreign investment companies, or PFICs. The historical development leading up to the enactment of the PFIC rules in 1986 is examined. Unexpected tax consequences resulting from the PFIC rules are analyzed in detail. Recommendations to modify the rules so that they do have such onerous consequences follow, concluding that the PFIC rules cannot be sufficiently fixed and should be repealed.

Number of Pages in PDF File: 35

Keywords: passive foreign investment company, PFIC, tax deferral, Subpart F

JEL Classification: K34

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Date posted: September 7, 2013 ; Last revised: August 15, 2014

Suggested Citation

Gianni, Monica, PFICs Gone Wild! (March 1, 2013). 29 Akron Tax Journal 29 (2014). Available at SSRN: http://ssrn.com/abstract=2321349 or http://dx.doi.org/10.2139/ssrn.2321349

Contact Information

Monica Gianni (Contact Author)
University of Florida - Fredric G. Levin College of Law ( email )
P.O. Box 117625
Gainesville, FL 32611-7625
United States
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