noncontrolled foreign corporation (NCFC)
Noncontrolled foreign corporation is a company that is owned in such a way that its financial results are not consolidated with any of its shareholders, and the shareholders are not allocated any portion of the company's income for tax purposes.
Additional Information
If the NCFC is located in a jurisdiction that does not have an income tax, this creates income tax deferral, meaning no tax until income is repatriated to its owners.
