Form 8621 covers Passive Foreign Investment Company (PFIC) reporting, a highly complex area of international tax law. This form is required for U.S. persons who own interests in PFICs, which are foreign corporations that meet certain income or asset tests. The reporting requirements for Form 8621 are extensive and include making Qualified Electing Fund (QEF) elections, Mark-to-Market (MTM) elections, and calculating complex excess distributions, which can lead to significant tax implications if not handled correctly. Due to the intricate calculations, various election options, and the detail-heavy nature of the form, manual data entry is highly prone to errors and can significantly delay tax preparation. Abacus addresses these challenges by precisely extracting all required data points from Form 8621 PDFs and normalizing them into structured Excel workbooks. This process includes built-in validations to ensure cross-schedule consistency and accuracy, preparing the data for seamless and error-free import directly into tax preparation software like CCH Axcess or GoSystem.