Get the free form 8858

Caution: DRIFTNET FOR FILING This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information as a courtesy. Do not file draft forms.

How to fill out form 8858

How to fill out draft form 8858:

1. Start by entering your name, taxpayer identification number, and the tax year at the top of the form.
2. Provide information about your foreign disregarded entities (FDEs) and foreign branches, including their names, addresses, and EINs or foreign tax identification numbers.
3. Indicate the country or countries where each FDE or foreign branch is organized or located.
4. If you have multiple FDEs or foreign branches, complete Part II of the form to provide additional details for each one.
5. If you disposed of any interest in an FDE or foreign branch during the tax year, provide the relevant information in Part III.
6. In Part IV, report any foreign disregarded entity-owned foreign disregarded entities (FDE-owned FDEs) and their respective information.
7. If you have foreign branch-owned foreign disregarded entities (FB-owned FDEs), complete Part V to disclose the necessary details.
8. If you are making certain elections or have any additional information to report, use Part VI.
9. Finally, sign and date the form, and attach any required schedules or supporting documentation.

Who needs draft form 8858:

1. U.S. taxpayers who own a foreign disregarded entity (FDE) or have a foreign branch.
2. Individuals or businesses engaged in international transactions or investments.
3. Taxpayers who need to report information about their foreign disregarded entity-owned foreign disregarded entities (FDE-owned FDEs) or foreign branch-owned foreign disregarded entities (FB-owned FDEs).
4. Those who disposed of any interest in an FDE or foreign branch during the tax year.
5. Individuals or businesses who need to make certain elections or report additional information related to their foreign entities.

Note: It is important to consult with a tax professional or refer to the Internal Revenue Service (IRS) instructions for form 8858 to ensure accurate and compliant completion.

For pdfFiller’s FAQs

What is draft form 8858?

Draft form 8858 is used by U.S. persons who are shareholders of certain foreign corporations to report information about their ownership interests.

Who is required to file draft form 8858?

U.S. persons who are shareholders of certain foreign corporations are required to file draft form 8858.

How to fill out draft form 8858?

Draft form 8858 should be filled out accurately and completely, including information about the foreign corporation, the shareholder's ownership interest, and any related party transactions.

What is the purpose of draft form 8858?

The purpose of draft form 8858 is to report information about a U.S. person's ownership interest in a foreign corporation and to ensure compliance with U.S. tax laws.

What information must be reported on draft form 8858?

Information that must be reported on draft form 8858 includes details about the foreign corporation, the shareholder's ownership percentage, income and expenses of the foreign corporation, and any related party transactions.

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