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C L E S S E N T I A L S: DISCOVERY: PROBLEMS & SOLUTIONS Friday, May 14, 2010, Live at USC Law School Auditorium, Columbia, SC and via SCETA closed-circuit television to 2-video-CLE sites and via
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CLES stands for Controlled Foreign Corporation (CFC) Look-Through Election Statement.
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US shareholders of a Controlled Foreign Corporation (CFC) are required to file CLES.
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CLES can be filled out electronically using the IRS Form 5471.
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The purpose of CLES is to provide information on the income and investments of US shareholders in a CFC.
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Information such as income, assets, and investments of US shareholders in a CFC must be reported on CLES.
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