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International Reporting

Foreign Corporation Reporting (Form 5471)

U.S. owners, officers, and directors of a foreign corporation may have a Form 5471 filing requirement. A licensed CPA helps you confirm your filer category and prepare an accurate return.

Tell Us What You Need Help With
Briefly describe your ownership and the corporation so we can determine the appropriate next step.

When Form 5471 May Apply

Form 5471 is an information return that certain U.S. persons file when they own, or are officers or directors of, a foreign corporation. The rules divide filers into categories with different requirements, and the return often includes financial detail and related-party transactions.

Because the requirement depends on your ownership and role, the first step is confirming your filer category for the years involved.

Situations We See

  • You own or acquired shares in a corporation organized outside the United States
  • Your ownership percentage recently increased or crossed a threshold
  • You are an officer or director of a foreign corporation
  • The corporation has transactions with you or with related parties
  • You started, bought into, or reorganized a foreign business
  • You are unsure which category of filer you fall under

Why Getting It Right Matters

Form 5471 has its own deadlines and detailed schedules, and late or incomplete information returns can carry penalties that are separate from any income tax. Confirming your category and filing accurately and on time is the most reliable way to stay in good standing.

We do not promise any particular penalty outcome. We help you understand the requirement, prepare an accurate return, and identify the appropriate next step.

What Jason Brett CPA Does

  1. Review your ownership, role, and any recent changes to determine whether a Form 5471 filing is required and under which category.
  2. Identify the schedules that apply, including related-party transactions and financial detail.
  3. Coordinate the filing with your underlying U.S. income tax return, which is prepared under a separate scope where applicable.
  4. Provide a written scope and price before preparation begins.
  5. Prepare and file the return, and explain what to keep for future years.

What We May Need From You

Gathering the following helps us confirm your category and scope the work. Missing items can often be reconstructed or requested.

  • The name, country, and business activity of the foreign corporation
  • Your ownership percentage and how it has changed over time
  • The corporation financial statements or books for the years involved
  • Details of any transactions between you and the corporation
  • Prior U.S. returns, if the ownership affects years already filed

What May Require a Separate Scope

The introductory call confirms fit and the appropriate next step. Multiple years, complex ownership structures, and the underlying income tax return are typically scoped separately after an initial assessment.

Preparing the U.S. income tax return itself, reconstructing corporate financials, and multi-year catch-up filings are examples of work quoted as separate steps. You receive a written scope and price before that work begins.

Unsure Whether You Need to File?

Tell us about your ownership and the corporation. We will determine whether it fits our services and the appropriate next step.

Tell Us What You Need Help With

Related Help

International tax and FBAR
Foreign gift reporting (Form 3520)
Request an international tax consultation
Flat-fee pricing

Common Questions

I only own a small share. Do I still have to file?

Possibly. The categories of filer depend on ownership level, role, and recent changes, and some apply at lower thresholds than people expect. We review your specific facts to confirm.

Is Form 5471 the same as my tax return?

No. It is an information return that attaches to your U.S. income tax return. Preparing the income tax return itself is a separate scope where applicable.

I have several years to catch up on. Can you help?

Yes. Multi-year situations are common and are typically scoped after an initial assessment. We do not promise any specific penalty result.

What does this cost?

Single-year filings are quoted as a flat fee. Complex ownership, multiple years, and the underlying return may require an initial assessment first. You receive a written scope and price before work begins.