Get the free C A P T N K E V O S - Pacific Powerboating

CAPTNMarine Canvas Marine canvas has always been very popular in the Bay and Delta. One of the reasons is that many Nor Cal boaters want to use their vessels nearly year round (myself included). So,

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What is c a p t?

CAPT stands for Controlled Foreign Corporation (CFC) Annual Information Reporting. It is a reporting requirement for US persons who own a certain percentage of a foreign corporation.

Who is required to file c a p t?

US persons who own 10% or more of a foreign corporation are required to file CAPT.

How to fill out c a p t?

CAPT is typically filed through the IRS Form 5471. The form requires detailed information about the foreign corporation and the ownership interests of the US person.

What is the purpose of c a p t?

The purpose of CAPT is to prevent tax evasion by US persons through foreign corporations and to gather information about their foreign investments.

What information must be reported on c a p t?

Information such as the name and address of the foreign corporation, details of the ownership interests held by the US person, and financial information of the foreign corporation.