1 “Category one” companies are identified in their offering documents, annual reports, or other
company-generated, publicly-available documents as being (or as likely being) PFICs.
2 “Category two” companies are companies (other than category one companies) that one or more Institute
members either treat, or suspect should be treated, as PFICs.
[11111]
July 12, 1999
TO: ACCOUNTING/TREASURERS COMMITTEE No. 22-99
INTERNATIONAL COMMITTEE No. 30-99
TAX COMMITTEE No. 17-99
RE: DATA COLLECTION FOR PFIC SURVEY UPDATE
______________________________________________________________________________
For the past several years, the Institute has undertaken to collect information from its members
regarding foreign companies that may be passive foreign investment companies or “PFICs.” After the
information is aggregated and the names of the firms providing the information are deleted, a “PFIC
survey update” is distributed. Attached is a copy of the last PFIC survey update, dated October 23,
1998.
Please review the attached update and make any deletions, additions or corrections to the
“category one” 1 and “category two”2 PFIC listings that you feel necessary, either by marking up the
PFIC update or in a short memorandum. With respect to any addition of a “category one” company,
please include a copy of any publicly-available document identifying the company as a PFIC.
Survey results should be sent to the Institute’s Trish Weems by e-mail (to pweems@ici.org), by
fax (at 202 326-5841) or by mail no later than Friday, September 3, 1999.
Thank you in advance for your cooperation in this important survey. If you have any questions
regarding the survey, please call Trish Weems (at 202 218-3560) or the undersigned (at 202 371-5436).
Deanna J. Flores
Assistant Counsel
Attachment