International tax
Foreign corporations (Form 5471)
Form 5471 reporting for US shareholders, officers, and directors of foreign companies — including filing categories, schedules, and catch-up procedures.
What we handle
Full Form 5471 compliance for US persons with ownership in foreign corporations — from initial assessment to ongoing annual filings.
When you need to file
Form 5471 has five filing categories. Most US persons connected to a foreign corporation fall into one of these four common situations.
Category 2
Officer or director
A US citizen or resident is an officer or director of a foreign corporation in which any US person acquired 10% or more ownership (or an additional 10% block) during the year.
Category 3
Acquired 10%+
A US person who acquired stock pushing ownership to 10% or more, became a US person while already owning 10%+, or disposed of stock dropping below 10% during the year.
Category 4
Control of foreign corp
A US person controlled a foreign corporation (more than 50% of voting power or value — direct, indirect, or constructive ownership) at any time during the year.
Category 5
CFC shareholder
A US shareholder (10%+ voting power or value) of a Controlled Foreign Corporation — one where US shareholders collectively own more than 50%.
These are simplified summaries. Actual filing requirements depend on direct, indirect, and constructive ownership rules. Category 1 (section 965 specified foreign corporations) is not shown above. Contact us for a category determination specific to your situation.
Eligibility for the IRS Streamlined Filing Compliance Procedures requires certification of non-willful conduct under penalty of perjury. We assess fit on a case-by-case basis before recommending this path.
Not sure if you need to file?
A short consultation can help us determine your filing category, identify required schedules, and assess any catch-up procedures you may need.
