Form 5471 and Corresponding Schedules

Form 5471 is an “Information Return of U.S. Persons with Respect to Certain Foreign Corporations.” In translation, it is a form that some taxpayers use to report the activities of their foreign organizations. Courtesy of its “informational” status, there is no actual tax liability associated with the filing. Instead, the IRS utilizes it to determine what companies they should audit under laws such as Subchapter F, per se. Although the shortened version only spreads over six pages, this form is known for its numerous schedules…

Leave a Reply

Your email address will not be published. Required fields are marked *