From
https://www.irs.gov/instructions/i8621"Passive Foreign Investment Corporation (PFIC)
Generally, a U.S. person that is a direct or indirect shareholder of a PFIC must file Form 8621 for each tax year....
...However, a U.S. person that owns stock of a PFIC through a tax-exempt organization or account described in the list below is not treated as a shareholder of the PFIC.
An organization or an account that is exempt from tax under section 501(a) because it is described in section 501(c), 501(d), or 401(a).
A state college or university described in section 511(a)(2)(B).
A plan described in section 403(b) or 457(b).
An individual retirement plan or annuity as defined in section 7701(a)(37).
A qualified tuition program described in section 529 or 530.
A qualified ABLE program described in section 529A."