N-2011-55: suspension of certain reporting requirment until IRS releases a new Form 8938 and updates Form 8621

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IRS GuideWire

June 21, 2011

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Issue Number: N-2011-55

Inside This Issue

Notice 2011-55 suspends information reporting requirement under sections 6038D and 1298(f) for taxpayers that may be subject to reporting under those sections for taxable years beginning on or after March 18, 2010, until the IRS releases new Form 8938 (Statement of Foreign Financial Assets) and a revised Form 8621 (Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund).

Notice 2011-55 will be published in Internal Revenue Bulletin 2011-29 on July 18, 2011.

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