Do You Need to File IRS Form 5471 if You’re a Minority Owner of a Foreign Corporation? An International Tax Lawyer Explains

If you own shares in a foreign corporation you should assess if you have to file form 5471. Generally, if you are a less than ten-percent shareholder in a foreign corporation, you will not have to file a form 5471. The primary exception to that rule is if you are deemed to own more than ten percent by virtue of constructive ownership. When U.S. shareholders own, or are deemed to own, more than ten percent of the voting rights or value of the shares of a foreign corporation a form 5471 is likely to be required to be filed. If you own a minority interest in a foreign corporation, please reach out to an offshore tax attorney with the McGuire Law Firm to discuss your filing obligations.

IRS Form 5471:
https://www.irs.gov/forms-pubs/about-form-5471

Get in touch with the Columbus-based McGuire Law Firm for a free consultation with an offshore tax attorney.

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