What your current Tax Software doesn’t do…

None of the tax preparation software packages have full Form 8621 functionality.
Most are limited to calculating the additional interest and taxes for 1291 funds, and transfer the income to the tax return based on the entries made in the tax software.

You still must do the base calculations to know what to enter into your software, and you still must maintain:

• Separate calculations of basis,
• Unreversed income inclusions,
• Line 15b adjusted annual distributions
• Other pieces of the PFIC regime.

Your Tax Software does not calculate…

• The special OVDP alternate mark to market taxation,
• Apply the becoming a US person rules,
• Allowable foreign tax credits
• Expatriation dispositions.

Form 8621 Calculator does all of this!

Here is why you need to use the Form 8621 Calculator

• We track all the moving pieces that your tax software does not…
  • Cost basis per share,
  • Unreversed inclusions per share,
  • Holding period,
  • Adjusted annual distribution amounts,
  • Pre & Post PFIC income inclusions
  • Character of income
  • Calculates and re-allocates the excess distribution amount
  • Automatically purges the taint when an election is made
  • And more that we haven’t listed

• We also apply currency conversions for 150+ foreign currencies using the daily rate for each transaction.
• We provide calculation details for your files.
• We tell you where all the numbers go on the tax return as a crosscheck
• We provide all statements required by the IRS to support the calculated amounts on Form 8621 which can be attached as a PDF to most tax software programs.
• You can say goodbye to your spreadsheets.

If your software is Prosystem fx, Global fx, or Axcess Tax our calculator also provides you with…

• a completed form 8621 return and statements,
• importable excel sheets where they are allowed,
• the entries needed by your software based on the PFIC’s transaction history.

As a demo user you will get to explore the full Form 8621 Calculator software and try out all the features, you can even prepare and print a form. The account will expire after you create 3 forms or 2 weeks from the date you first log in- whichever comes first. Once you see how easy Form 8621 Calculator makes the process you will never want to do another Form 8621 by hand!

Whether you purchase an annual server licence or cloud subscription our Form 8621 Calculator allows you to create an unlimited number of Form 8621s. You will be amazed how many you can prepare without feeling stressed.

The IRS Regulations do not allow the use of average cost base for PFIC shares – the Calculator converts each transaction to USD using the exchange rate in place on the date of occurrence. Cost basis and unreversed inclusions per share are calculated and tracked by the software automatically.

Currently the following calculation modules are available through our solution:

• Section 1291 (default taxation)
• Election A: Election To Treat the PFIC as a QEF (beta)
• Election C: Election To Mark-to-Market PFIC Stock
• Election D: Deemed Sale Election (beta)
• Section 1296 (Mark-to-Market taxation)
• Pedigreed and Unpedigreed QEF calculations
• Becoming a US person Transitional Rule Application
• Expatriation
• Alternate calculation under the Offshore Voluntary Disclosure Program (OVDP)

In development:

• Election E: Deemed Dividend Election.

With an annual server licence- Form 8621 Calculator puts you in control of sensitive client details so you decide how the information is seen and stored. All client data is stored on your system and never leaves your office. You decide how much or how little client data prints on each form.A cloud subscription only allows you to enter the PFIC transactions, no information about your client is accepted. Form 8621 will print with the heading blank and will be assigned a unique alpha-numeric identifying number so you can keep track of which client the form belongs with.

An annual server licence is usually the choice for firms with multiple users. The 8621 Calculator data will reside on a designated server located in the firm’s office- no client data ever leaves the company’s system. Extra users can be added for a nominal fee ($100 USD/ $130 CAD). Very large firms (over 50 users) need the large server licence. A cloud subscription required you to log into the software and can only be used by a single user. Since any data you enter is saved on our server – you cannot enter any client sensitive information such as names, addresses or SSNs. The Form 8621 Calculator is the same software – except forms are created using a unique alpha-numeric code instead of your clients name. This prevents any privacy issues that come from the sharing of client information without permission.The table below shows the main options and limitations of each version of the application.

	Cloud Solution	Small Server	Large Server
Administrative Rights	Limited to user administration	Full	Full
Password Reset option	Enabled	Optional	Optional
Location of financial data	Cloud server	Client computer	Client computer
Location of sensitive client data	n/a client sensitive data is not collected	Client computer The data can be limited by the System Administrator	Client computer The data can be limited by the System Administrator
Collecting and storing client name and SSN	Clients identified by ID only*	Optional	Optional
Collecting and storing client address	Disabled	Optional	Optional
Collecting and storing client bank account numbers	Limited to last 4 digits	No limitations	No limitations
Address of financial institution on Form 8621	Disabled	Optional	Optional
Search client list	Optional	Optional	Optional
Print Client ID on reports	Enabled	Optional	Optional
Custom company code in Reference Numbers	Enabled	Enabled	Enabled
Keeping copy of PDF forms on server	PDFs are generated on request, not saved to server	Optional	Optional
System back-up	Daily	Manual	Manual
Maintenance Updates	By Expat Tax Tools	Updates installed by client	Updates installed by client

*Client ID is an alphanumeric identifier set by the User

Both the cloud and server applications are accessed by logging in using a compatible internet browser.

Cloud users only need a supported browser to access the Form 8621 Calculator.

If you wish to host your own server, see table below for minimum requirements for the server computer.

	Small Server	Large Server
Installation*	By client	By client
Minimum Recommended Memory	8GB	16GB
Minimum Hard Drive	50GB	50GB
Hard Drive Type	SSD drives recommended	SSD drives recommended
CPU	Core i7 is recommended	Core i7 is recommended
Operating System	Not OP dependent. System should run Apache or IIS web-server, PHP 5.4+ (with FastCGI) and a MySQL database	Not OP dependent. System should run Apache or IIS web-server, PHP 5.4+ (with FastCGI) and a MySQL database

* ETT provides an installation program for Microsoft Windows. Other operating systems require a custom installation.

Form 8621 Calculator will work in:

• Internet Explorer 10+
• Chrome 22+
• Firefox 27+
• Safari 6+

The 8621 Calculator uses the latest advanced web technology and standards. Older versions of browsers do not support many of these new features which could cause the program not to function properly.

Our price has three components. The server fee, the user fee, and the form fee. The server and user fees are due when the license is executed or a new user is added, while form fees are billed on a monthly basis.

Server Fee*

* The server fee includes one user account.

User Fees

Each additional user is at $100 USD / 130 CAD each

Form Fees*

Number of Forms	USD	CAD
1 - 100	Free
101 - 200	9.95	12.95
201 - 300	8.95	11.65
301 - 400	7.95	10.35
401 - 500	6.95	9.05
501 +	4.95	6.45

* Per form prices

We accept payment in US or Canadian dollars by credit card, wire transfer and e-transfer.

While we don’t have a per use option available, we can assist be preparing the form for you.

The fees vary based on the number of new transactions you have within the fund.

The base fee is $200 CAD / $150 USD  per form. This covers up to 75 transactions, then increases by 10% for every additional 75 transactions. *

Check out the Fee Estimator to calculate the estimated fees using the number of transactions.

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* Professional discounts available please contact us at b.lougen@form8621.com

Yes – You may import the transaction history of the investment using our excel template file.