Metaplanet, a Japanese company known for its Bitcoin reserve strategy, is assessing whether it will be classified as a Passive Foreign Investment Company (PFIC) by the IRS for the 2025 tax year. CEO Simon Gerovich announced that the company is evaluating its income and asset structure to determine compliance with IRS guidelines, which classify a company as a PFIC if 75% or more of its income is passive, or if 50% or more of its assets generate passive income. Metaplanet is consulting with advisors to provide U.S. shareholders with guidance on potential tax implications and the possibility of making a qualified elective fund election.