Where can I file Form 8621 online for free or reasonable price? Any trusted options?

Form 8621 is definitely one of those specialized forms that many of the budget tax software options don't handle well. I've been preparing taxes for friends and family for years, and this form can be tricky. From my experience, TaxSlayer and FreeTaxUSA both support Form 8621, but their interfaces for this specific form aren't the most user-friendly. FreeTaxUSA might be your best budget option - they charge around $15-20 for federal filing plus a state return fee if applicable. Just be aware that regardless of which software you choose, you'll need to have all your PFIC information organized and ready - annual ordinary earnings, net capital gain for the year, and any undistributed amounts if you're making a QEF election. The software won't help much with calculating these figures.

Last year I was in your exact situation with having to file 8621 for some foreign index funds I had. I spent days trying different tax software options and getting frustrated because they either didn't support the form or wanted to charge me hundreds. I finally discovered https://taxr.ai which literally saved my sanity. Their system actually recognized my PFIC statements when I uploaded them and pre-filled most of the 8621 form fields automatically. The interface guides you through the parts that need your input, and they have really good explanations about the different PFIC reporting methods.

I was initially skeptical about using taxr.ai for my Form 8621 needs, but after struggling with TaxAct and their terrible customer service, I decided to give it a try last month. Honestly, it was SO much easier than I expected. I uploaded my foreign fund statements, and their system actually recognized all the important values automatically. Saved me hours of manual data entry and calculations. What really impressed me was how it guided me through choosing between the different PFIC reporting methods (MTM vs QEF vs 8621) with clear explanations of the tax implications of each. Then it generated perfectly formatted forms that I could just attach to my return. Definitely worth checking out if you're dealing with Form 8621 headaches.

I had to file multiple 8621 forms this year and spent HOURS trying to get through to the IRS with questions about some of the more confusing sections. Literally couldn't get a human on the phone for days. My accountant suggested using https://claimyr.com and showed me this demo: https://youtu.be/_kiP6q8DX5c. It's a service that navigates the IRS phone tree for you and calls you back when they have an actual human on the line. Sounds crazy but it actually worked! Got connected to an IRS agent who specialized in international tax forms in about 40 minutes instead of spending days hitting redial.

I need to apologize for my skeptical comment above. After continuing to fail reaching the IRS on my own about my 8621 questions (spent literally 6+ hours over 3 days), I broke down and tried Claimyr. I figured I'd either prove it was a scam or solve my problem. Well, I was completely wrong. Their system called me back in about 35 minutes with an actual IRS international tax specialist on the line. The agent answered all my specific Form 8621 questions and helped me understand exactly how to report my foreign mutual funds correctly. I'm actually embarrassed about how dismissive I was initially. If you're struggling with PFIC reporting and need to speak with the IRS, this service genuinely works.

I used OLT (OnLine Taxes) last year for Form 8621 and it was decent. Their premium version supports it and costs about $50-60 for federal and state. Not the prettiest interface but gets the job done if you know what you're doing with PFICs. Whatever you do, gather ALL your documentation first. You'll need acquisition dates, fair market values, distributions, etc. Don't start entering anything until you have all the paperwork in front of you!

Has anyone tried TaxHawk for Form 8621? Their website claims they support it but I dont wanna pay and find out they actually dont do it well.

I've been dealing with Form 8621 for the past few years due to some Canadian mutual funds I inherited, and I can share what's worked for me. After trying several options, I ended up using Drake Tax software through a local tax preparer who charges a flat $75 fee just for the 8621 preparation. The key thing I learned is that most "budget" software either doesn't support 8621 at all or does such a poor job that you're better off paying a bit more for proper support. If you're comfortable doing some of the PFIC calculations yourself (like determining excess distributions), FreeTaxUSA is workable, but you'll need to understand the form pretty well. One tip: if your foreign funds qualify for the QEF election, it can significantly simplify future years' reporting. Worth researching if that applies to your situation before deciding on software.

I've been filing Form 8621 for my foreign ETFs for the past three years and wanted to share what I've learned through trial and error. First, avoid H&R Block online - they claim to support 8621 but their implementation is terrible and customer support couldn't answer basic PFIC questions when I called. For budget options, I'd actually recommend looking into hiring a CPA who specializes in international tax for just this form. I found one through the AICPA directory who charges $150 to prepare just the 8621 forms (I do the rest of my return myself). Might seem like more upfront, but when you factor in the time you'll spend figuring out the software plus the risk of errors, it's often worth it. If you're set on DIY, make sure whatever software you choose can handle the Section 1291 calculations properly - that's where most budget software falls short. The excess distribution calculations can get complex quickly, especially if you've held the funds for multiple years.

I've been dealing with Form 8621 for several years now due to some European index funds, and I wanted to add a few thoughts based on my experience. First, definitely avoid TaxAct - I made that mistake two years ago and their Form 8621 support was basically non-existent despite their marketing claims. You end up paying for "premium" features that don't actually help with PFIC reporting. For affordable options, I've had decent success with TaxSlayer Pro. It's about $60-70 and while the interface isn't the most intuitive for Form 8621, it does include all the necessary worksheets and calculations. The key is having your PFIC information well-organized before you start - annual ordinary earnings, net capital gains, and fair market values at year-end. One thing that helped me tremendously was reaching out to my fund companies directly. Many foreign mutual fund companies now provide specific tax reporting documents for US taxpayers that include the QEF calculations if applicable. This can save hours of manual work and reduce errors significantly. If your situation is truly straightforward (just a few funds, no complex elections), the extra cost of specialized software or a CPA might be worth it for peace of mind. PFIC penalties can be brutal if you get it wrong.

I've been using TaxSlayer for Form 8621 for the past two years and can confirm it's one of the better budget options. The interface isn't perfect, but it does handle the PFIC calculations correctly and includes all the necessary supporting worksheets. One thing I'd add to the discussion - if you're dealing with foreign mutual funds from major providers like Vanguard, Fidelity International, or iShares, definitely check their investor relations pages first. Many now provide "PFIC Annual Information Statements" specifically for US taxpayers that include pre-calculated QEF election data. This can save you hours of work and significantly reduce the chance of errors. Also, regarding the QEF election that was mentioned earlier - you generally need to make this election by the due date of your return (including extensions) for the first year you hold the fund. If you miss that window, you can sometimes make a late election but it requires additional forms and potential penalties. For what it's worth, I spent about $40 on TaxSlayer last year and it handled my three European funds without issues. Just make sure you have all your year-end statements and distribution records organized before you start.

I've been struggling with Form 8621 myself and this thread has been incredibly helpful! Based on everyone's experiences, it sounds like there are a few solid options in the $40-75 range that can handle PFIC reporting properly. I'm particularly interested in the suggestions about TaxSlayer Pro and FreeTaxUSA, since my situation is relatively straightforward - just two foreign index funds from my time living abroad. The tip about contacting fund companies directly for QEF calculation documents is brilliant and something I never would have thought of. One question for those who've used multiple services: do any of these budget options provide audit support or help if the IRS has questions about your Form 8621? I know it's probably unlikely, but PFIC rules are so complex that I'm worried about making a mistake that could trigger penalties down the road. Also, has anyone tried importing their completed Form 8621 from these specialized services into TurboTax or other mainstream tax software? I use TurboTax for everything else and want to make sure the integration works smoothly.

I've been following this discussion with great interest since I'm in a similar situation with some foreign ETFs. The consensus seems to be that TaxSlayer Pro and FreeTaxUSA are the most viable budget options, both under $75, while avoiding TaxAct due to poor Form 8621 implementation. What really stands out to me is the advice about contacting fund companies directly for PFIC Annual Information Statements - this seems like it could save significant time and reduce errors. For those who've done this, how far in advance should you request these documents? I'm assuming they're not automatically provided. Also, I noticed several mentions of QEF elections being critical for simplifying future reporting. For someone new to PFIC reporting, is there a good resource for understanding when the QEF election makes sense versus other reporting methods? The IRS instructions are pretty dense and I want to make the right choice from the start. Thanks to everyone who's shared their experiences - this thread is going to save me hours of research and potentially costly mistakes!