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Enter filer information for foreign corporations
Enter filer information for foreign corporations on Form 5471, including ownership, filer category, voting stock percentage, and filer address, using the Foreign Corporation Return in the Organizer.
To enter filer information for foreign corporations for Form 5471:
- Go toOrganizerand openForeign Information, thenForeign Corporation.
- Choose the corporation's name, selectForeign Corporation Return, then openFiler Information.
- Choose the ownership:
- Taxpayer
- Spouse
- Joint
- None(default)
- Select the category of filer:
- 1: U.S. shareholder of a foreign corporation that is a §965 specified foreign corporation
- 2: U.S. citizen/resident, officer, directory, or acquirer of 10% or more stock of a foreign corporation
- 3: U.S. person acquiring/disposing of 10% or more stock of a foreign corporation during the year
- 4: U.S. person who had uninterrupted control of a foreign corporation for at least 30 days
- 5: U.S. person owning 10% or more stock of a CFC for 30 days or more and at year end.
- Select the option for certain category 1 and category 5 filers.
- If needed, selectFiler claims are deemed paid foreign incomes taxes of the foreign-controlled corporation under §960 for the filer’s taxable year.
- Enter the total percentage as decimal of voting stock of the foreign corporation owned by the filer at the end of the accounting period. For example, 99% = .99.
- If the filer's name has changed, enter the former name and the explanation of the name change.
- Enter either the U.S. or foreign address for the filer. Don't enter both addresses.
This article applies to:
- Product: GoSystem Tax RS
- Return type: 1040 Individual