# Must I file 8621, or is 8938 sufficient



## Anin99 (Nov 26, 2016)

Foreign mutual fund, I am about to report in delinquent FBAR. 
I am filing 8938 with my next tax return. 

Can I report the mutual fund, which I assume is a foreign passive income fund, on Form 8938 ? 
Just to have it easier? Or must I report it on 8621. 

Form 8621 was used before 2013 to calculate what you owe tax on a foreign mutual fund that year according to all literature . This is what I understand. But since 2013 everyone must file 8621 just to report a foreign mutual fund. Some sources say the IRS does not even say what to report on it.
Looking at the form 8621 , it does not look like you just can report , you must actually calculate your tax. 
No option to defer tax, or just report . Am I overlooking something? 
Without reporting and calculating tax on my foreign passive fund, I do not owe tax this year . So yes I would like to defer on the PFIC account.
This PFIC thing I cannot deal with, most CPA apparently cannot either . I had no clue that my fund was that 
I want sell the fund now, but I think even if I sell it now in Germany, I still have to report it here in next tax return, and pay retroactive tax on all , don't I ?


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