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The United States person holds (immediately after the transfer) directly or indirectly at least a 10-percent interest (as defined in section 6046A(d)) in the ...
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What is under section 6038b?
Section 6038b pertains to the reporting of information related to certain foreign corporations and partnerships.
Who is required to file under section 6038b?
Certain U.S. persons who own interests in specified foreign corporations and partnerships are required to file under section 6038b.
How to fill out under section 6038b?
The required information under section 6038b can typically be filed electronically using Form 5471 or Form 8865, depending on the type of foreign entity.
What is the purpose of under section 6038b?
The purpose of section 6038b is to provide transparency and information to the Internal Revenue Service (IRS) regarding foreign business interests held by U.S. persons.
What information must be reported on under section 6038b?
Information such as ownership percentages, financial information, and organizational structure of the specified foreign corporations and partnerships must be reported under section 6038b.
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