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Form 5471 automated preparation

Form 5471 Organizer general information

You can enter filer information in the 5471 Organizer or you can enter it by selecting
Tools
, then
Admin Tools
, then
Foreign Form Default Filer
. During TAS Compute and Consolidation, the
Foreign Form Default Filer
 is transferred to the Organizer and stored in fields that are not visible.
Use
Tax Forms
 to review the data. Any manual entries in the 5471 Organizer supersede the Default Filer data from TAS.
If you want to completely ignore the information transferred from the Foreign Form Default Filer screen, select the
Do not user Default File Information
 option located in Organizer. Select
Foreign Information
Foreign Corporation
Foreign Corporation
Filer Information
{entity name}
Filer Information
.
Entity Properties information flows from the Binder Properties during the TAS compute and consolidation process to Organizer. The functional currency code is determined from the binder's Exchange Rate chart.

Enter general information

  1. Go to Binder Properties on the
    General Information
     page and enter the Reference ID number.
  2. Use Batch Import to import Reference ID numbers for multiple entities simultaneously.
    1. Select the International Import Type: Reference ID, Form 8975, Number of Employees.
    2. The only information required for a successful Reference ID import is Entity Number and Reference ID Number.
If more than one Reference ID is required, you must enter the additional number(s) in the appropriate screen in Organizer.
Organizer
In the initial year, you must enter the following information manually in Organizer and it will rollover to the next year:
  • Category of filer
  • Persons on whose behalf this information is filed
  • Principal business activity code and description
  • US Branch office or agent name and address
  • Foreign statutory or resident agent name and address
  • Custodian of books and records name and address

This article applies to:

  • PRODUCT: ONESOURCE International Tax
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