How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lev Your Own Question
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29535
Experience:  Taxes, Immigration, Labor Relations
Type Your Tax Question Here...
Lev is online now
A new question is answered every 9 seconds

I hold some PFICs in a Roth IRA. Do I have to file a Form

Resolved Question:

I hold some PFICs in a Roth IRA. Do I have to file a Form 8621 for each holding? Any gains are nontaxable anyway.
Submitted: 6 years ago.
Category: Tax
Expert:  Lev replied 6 years ago.


Hi and welcome to Just Answer!


Because there is no gain or loss on any investment held in an IRA - no need to file a Form 8621.

Potentially for instance for RMD or other taxable distribution purposes – you might need to compute the correct value of your assets using “mark to market” – but RMD is not an issue for Roth IRA.

The disadvantage of holding PFICs in IRA is that you may not deduct foreign taxes paid.

Lev and other Tax Specialists are ready to help you