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  • Form 5471: Dormant Foreign Corporations - Strafford

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Presenting a live 110?minute teleconference with interactive Q&A Cross?Border Ownership Structures: Lessons Learned Under Tougher IRS Scrutiny Best Practices for Complying with Forms 1120?F, 5471,.

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Both Forms 8938 and 5471 involve the reporting of foreign assets, but while form 8938 involves specified foreign assets (more broad) form 5471 is limited to foreign corporations (more limited).

U.S. persons are generally required to file Form 5471 related to their ownership in a foreign corporation when their ownership exceeds 10%. To determine your ownership interest percentage in a foreign corporation, you need to consider your direct, indirect, and constructive ownership in the entity.

Dormant foreign corporation alone makes the taxpayer liable for filing the personal tax return – even if taxpayer income is below the filing threshold. Form 5471 must be attached to a personal tax return (1040).

What is Form 5471? Form 5471, officially called the Information Return of U.S. Persons with Respect to Certain Foreign Corporations, is an Information Statement (Information Return) (as opposed to a tax return) for certain U.S. taxpayers with an interest in certain foreign corporations.

Form 5471, or 'Information Return of US Persons With Respect to Certain Foreign Corporations', is a filing requirement for certain US citizens or Green Card Holders who are shareholders, officers or directors in a foreign corporation.

Corporations file Form 5472 to provide information required under sections 6038A and 6038C when reportable transactions occur with a foreign or domestic related party.

ing to Revenue Procedure 92-70, a CFC is dormant for reporting purposes if: 1. The foreign corporation conducted no business and owned no stock in any other corporation other than another dormant foreign corporation; 2.

A U.S. person described in Category 1, 3, 4, or 5 (“shareholder”) does not have to file Form 5471 if all of the following conditions are met: The shareholder does not own a direct interest in the foreign corporation.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232