Summary by Moomoo AI
TENSHENGBO PHARMACEUTICAL BIOTECHNOLOGY CO., LTD. (TENSHENGBO PHARMACEUTICAL-B) ISSUED A NOTICE ON APRIL 12, 2024, INFORMING U.S. SHAREHOLDERS THAT IT AND ITS WHOLLY OWNED SUBSIDIARIES AND 72.8% SHAREHOLDINGS ARE RECOGNIZED AS PASSIVE FOREIGN INVESTMENT COMPANIES (PFIC) IN 2023. The Company provides the PFIC Annual Information Statement for U.S. shareholders to elect to treat the relevant company as an Eligible Selection Fund (QEF). If U.S. shareholders elect QEF, they will be required to factor the ordinary profit and net capital gains of the respective company into annual income. THE COMPANY EMPHASIZES THAT THIS INFORMATION IS USED ONLY TO ASSIST SHAREHOLDERS IN CALCULATIONS, DOES NOT CONSTITUTE TAX ADVICE AND ADVISES SHAREHOLDERS TO CONSULT WITH PROFESSIONAL ADVISERS ON TAX CONSEQUENCES. The notice also includes guidance on filling out IRS Form 8621 and financial information for the companies involved.