I Beginning of annual accounting period Cat. No. 49958V ii End of annual Form 5471 Rev. 12-2018 Page 2 Schedule B Shareholders of Foreign Corporation Part I number of shareholder shareholder. If Yes complete lines 4b and 4c. allowed under section 267A. Page 5 Is the filer of this Form 5471 claiming a foreign-derived intangible income deduction under section 250 with respect to any amounts listed on Schedule M. Check applicable box es City or town state and ZIP code C Enter the total percentage...of the foreign corporation s voting stock you owned at the end of its annual accounting period Filer s tax year beginning D Check box if this is a final Form 5471 for the foreign corporation. Did you answer Yes to any of the questions in the instructions for line 19. If Yes enter the corresponding code s from the instructions and attach statement see instructions Page 6 Schedule I Summary of Shareholder s Income From Foreign Corporation see instructions If item F on page 1 is completed a...separate Schedule I must be filed for each Category 4 or 5 filer for whom reporting is furnished on this Form 5471. Form Information Return of U*S* Persons With Respect to Certain Foreign Corporations Rev* December 2018 Department of the Treasury Internal Revenue Service OMB No* 1545-0123 Go to www*irs*gov/Form5471 for instructions and the latest information* Information furnished for the foreign corporation s annual accounting period tax year required by section 898 see instructions beginning...and ending Attachment Sequence No* Name of person filing this return A Identifying number Number street and room or suite no. or P. O. box number if mail is not delivered to street address B Category of filer See instructions. E Check if any excepted specified foreign financial assets are reported on this form see instructions F Person s on whose behalf this information return is filed 1 Name 2 Address 4 Check applicable box es Shareholder Officer Director Important Fill in all applicable lines...and schedules. All information must be in English. All amounts must be stated in U*S* dollars unless otherwise indicated* 1a Name and address of foreign corporation b 1 Employer identification number if any b 2 Reference ID number see instructions c d Date of incorporation e Principal place of business f Principal business activity code number Country under whose laws incorporated h Functional currency 2 Provide the following information for the foreign corporation s accounting period stated...above. a Name address and identifying number of branch office or agent if any in the United States b If a U*S* income tax return was filed enter of incorporation persons with custody of the books and records of the foreign corporation and the location of such books and records if different i Taxable income or loss ii U*S* income tax paid after all credits Schedule A Stock of the Foreign Corporation b Number of shares issued and outstanding a Description of each class of stock For Paperwork...Reduction Act Notice see instructions.
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How to fill out IRS 5471
Instructions and Help about IRS 5471
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To edit IRS 5471, access the form through a platform like pdfFiller which allows for seamless editing. Make sure all changes are accurate and updated to reflect your current tax situation.
How to fill out IRS 5471
To fill out IRS 5471, follow these general steps:
01
Gather necessary documentation about foreign corporations you are associated with.
02
Enter identifying information regarding yourself and the foreign corporation.
03
Complete the various sections relevant to the type of information required, ensuring all applicable schedules are addressed.
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About IRS 5 previous version
What is IRS 5471?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 5 previous version
What is IRS 5471?
IRS 5471 refers to the Information Return of U.S. Persons With Respect to Certain Foreign Corporations. This form is required for U.S. persons who are officers, directors, or shareholders in certain foreign corporations.
What is the purpose of this form?
The purpose of IRS 5471 is to report information that ensures compliance with U.S. tax laws regarding foreign corporations. It helps the IRS monitor U.S. taxpayer ownership and control of foreign entities, preventing tax evasion through undisclosed international assets.
Who needs the form?
U.S. citizens and residents must file IRS 5471 if they are officers, directors, or shareholders in a foreign corporation where they own a minimum ownership percentage, typically 10% or more. Different filing categories apply, depending on your specific role and ownership stake.
When am I exempt from filling out this form?
You may be exempt from filing IRS 5471 if you do not meet the ownership requirements, or if certain thresholds related to the foreign corporation's income and assets are not met. Additionally, specific circumstances related to the corporation's operational status may provide exemptions.
Components of the form
IRS 5471 consists of various parts and schedules, each designed to capture different aspects of the foreign corporation's financial status and operations. These include basic identifying information, ownership structure, financial statements, and transactions between the U.S. filer and the foreign corporation.
What are the penalties for not issuing the form?
Failure to file IRS 5471 on time can result in substantial penalties, often starting at $10,000 per form, unless reasonable cause can be demonstrated. Additionally, continued failures or inaccurate filings can lead to increasing penalties and possible criminal charges.
What information do you need when you file the form?
To file IRS 5471, gather the following information: details of the foreign corporation (name, address, and business type), your ownership percentage, financial statements of the corporation, and any transactions between you and the corporation. Accurate and complete information is essential for compliance.
Is the form accompanied by other forms?
IRS 5471 may need to be filed along with other forms, depending on your tax situation. For instance, it can be associated with Form 8938 (Statement of Specified Foreign Financial Assets) if you are also reporting foreign assets elsewhere on your tax return.
Where do I send the form?
Submit IRS 5471 as an attachment to your income tax return. If you are filing electronically, it will be processed through the e-file system. If filing by mail, send it to the appropriate IRS service center based on your location and the specific instructions provided by the IRS for submitting tax forms.
FAQ about IRS 5471
What should I do if I realize I made an error after filing my 2012 form 5471?
If you discover a mistake after submitting your 2012 form 5471, you should file an amended return using Form 1040X for U.S. individuals or the appropriate form for your return type. Ensure you indicate the changes clearly, maintain a copy of the corrected form, and retain records of your amendments for your files.
How can I check the status of my submitted 2012 form 5471?
To verify the status of your submitted 2012 form 5471, you can contact the IRS directly or use their online tools if available. Keep your submission details handy to ensure smooth communication, and be prepared for common e-file rejection codes to track any potential issues.
What technical requirements should I consider for e-filing my 2012 form 5471?
When e-filing your 2012 form 5471, ensure that your software is compatible with IRS requirements and that your browser is updated. Additionally, check any specific technical guidelines provided for mobile devices or secure data practices to protect your personal information during submission.
How should I handle receiving a notice related to my 2012 form 5471?
If you receive a notice regarding your 2012 form 5471, read it carefully to understand the request or issue. Prepare necessary documentation and respond in a timely manner, ensuring you address all points raised to facilitate resolution and maintain compliance.
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