A method of forming a circuit board, the method comprising mounting at least one passive component on a first surface of a first laminate material; interconnecting the passive component to contact traces and vias of the first laminate material; and attaching a second laminate material to the first surface of the first laminate material utilizing a lamination process, the second laminate material sheet having at least one of a recess, a through-hole or both formed therein for accommodating the passive component in the second laminate.