This version of the form is not currently in use and is provided for reference only. Download this version of Instructions for IRS Form 5471 for the current year.
This document contains official instructions for IRS Form 5471 , Information Return of U.S. Persons With Respect to Certain Foreign Corporations - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 5471 Schedule O is available for download through this link.
Q: What is IRS Form 5471?
A: IRS Form 5471 is an information return that must be filed by U.S. persons who are shareholders in certain foreign corporations.
Q: Who needs to file IRS Form 5471?
A: U.S. persons who are shareholders in certain foreign corporations need to file IRS Form 5471.
Q: What information is required on IRS Form 5471?
A: IRS Form 5471 requires information about the foreign corporation, its shareholders, and its financial activities.
Q: When is IRS Form 5471 due?
A: IRS Form 5471 is due on the same date as the taxpayer's income tax return, including any extensions.
Q: What happens if you don't file IRS Form 5471?
A: Failure to file IRS Form 5471 can result in penalties and other enforcement actions by the IRS.
Q: Is there a filing fee for IRS Form 5471?
A: There is currently no filing fee for IRS Form 5471.
Q: Are there any exceptions to filing IRS Form 5471?
A: There are certain exceptions to filing IRS Form 5471, such as when the foreign corporation is not a controlled foreign corporation or when certain ownership thresholds are not met.
Q: Can I e-file IRS Form 5471?
A: Currently, IRS Form 5471 cannot be e-filed and must be filed on paper.
Instruction Details:
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