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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 5471
for the current year.
IRS Form 5471 Information Return of U.S. Persons With Respect to Certain Foreign Corporations
What Is IRS Form 5471?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2020. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 5471?A: IRS Form 5471 is an information return that must be filed by U.S. persons who have ownership in certain foreign corporations.
Q: Who needs to file IRS Form 5471?A: U.S. persons who are officers, directors, or shareholders owning at least 10% of a foreign corporation must file IRS Form 5471.
Q: What information does IRS Form 5471 require?A: IRS Form 5471 requires information about the foreign corporation's income, assets, and transactions with related parties.
Q: What are the penalties for not filing IRS Form 5471?A: Failure to file IRS Form 5471 can result in significant penalties, including monetary fines and potential criminal charges.
Q: When is IRS Form 5471 due?A: IRS Form 5471 is generally due on the same date as the taxpayer's income tax return, including extensions.
Q: Can I e-file IRS Form 5471?A: No, IRS Form 5471 cannot be e-filed and must be filed on paper.
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 a passive foreign investment company or when the individual does not meet the ownership threshold.
Q: Is professional assistance recommended for filing IRS Form 5471?A: Yes, due to the complexity of IRS Form 5471, it is recommended to seek professional assistance or consult with a tax advisor when filing.
Q: What other forms may be required in addition to IRS Form 5471?A: Depending on the individual's situation, other forms such as Form 8938, Report of Foreign Bank and Financial Accounts (FBAR), may also be required to be filed.
Form Details:
- A 6-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 5471 through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 5471 Information Return of U.S. Persons With Respect to Certain Foreign Corporations
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