A switch mode AC/DC converter with input current shaped for unity power factor. Input current is modulated by input voltage, and input inductor and isolation transformer are driven with the same duty ratio, with a low voltage across bulk capacitor. This voltage is determined only by input voltage amplitude. Energy stored in the leakage inductance of the transformer is returned back to the internal DC source. A soft switching circuit is connected to the primary side, eliminating the need for high side drive. Sources of the main and auxiliary switches and primary winding of the transformer are connected to ground for easy primary voltage sensing. Overvoltage protection circuit of the output is connected to exclusively primary side signals. Secondary synchronous rectifier is driven by a circuit synchronized with the system clock. The circuit can be coupled to either the primary or the secondary winding of the isolation transformer.