An American friend of mine, who's a permanent UK resident and currently sorting out their US tax return, has just come across a new term from FATCA - Passive Foreign Investment Company (PFIC). Via this article from some tax advisors (which may therefore not be entirely neutral), they're starting to wonder about their UK pension and this.
Are all UK pensions automatically counted as qualified, and therefore excluded from the need to fill out the PFIC-related form 8621 as part of a tax return? Or if it's only some UK pensions, how would my friend go about working out if their pensions count or not? (I think they've got something like a stakeholder one through their current work, something else from a previous one, and a SIPP...)