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CRSP Market Indexes – PFICs to be Removed from Index Eligibility

Passive Foreign Investment Companies (PFICs), as defined by the IRS, will no longer be eligible for inclusion in the CRSP US Market Indexes. This change will take effect at the September 2025 Ranking.

A company’s PFIC designation will be determined based on credible independent third-party data sources. If a credible third-party data source is not available, the Index Eligibility Committee will make the final determination.

PFICs excluded from CRSP US Market Indexes are not eligible for inclusion for eight rankings after their initial exclusion. To be considered for re-inclusion, a company must have two consecutive annual 10-K filings in which it is not designated as a PFIC.

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