On 5 August 2021, a request for comments from the U.S. IRS was published in the Federal Register regarding Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. Form 8621 is filed by a U.S. shareholder who owns stock in a foreign investment company. The form is used to report income, make an election to extend the time for payment of tax, and to…