Are you interested in tax form 5471?
Form 5471 is a complex IRS tax form to record share ownership in foreign corporations. Be in compliance with the filing requirements if you have shares in a foreign company.
Tax Form for Foreign Companies
IRS form 5471 is a form used for US persons to disclose their ownership in a foreign corporation. While most expats & US persons owning foreign companies may not know about this tax form, it has very important tax implications in regards to compliance with the IRS for foreign shareholdings.
The tax form comprises of 7 different Schedules (A,B,C,F,G,I,E-1) and 7 separate Schedules (E-1, H, I-1, J, M, O, P), with varying levels of filing requirements based on which category you are. It’s also important to understand when and how to file this 5471 form as it may reveal other necessary tax form filings for foreign transactions. Penalties for non-compliance of section 6038(a), which form 5471 falls under, can be high.
This is why we created this form 5471 online tool to help you assess if you need to file this tax form, and what category you may fall under.
Should I fill out form 5471?
IncParadise - Incorporation & Registered Agent
We help entrepreneurs to start their businesses. We do filings for LLCs, Corporations in all 50 States. Other services include IRS filings, Corporate kits, mail forwarding, business credit building.
Eqvista helps entrepreneurs record & manage company's stocks
Our sophisticated software and technology will transform your company, and work to manage your cap table, company shares, valuations and more, in an easy and effective way. Incorporate your company and manage your equity all in one place without all the extra work.