![[ Offshore Tax ] Talk to me about Form 5471 please?](https://i.ytimg.com/vi/Y5NfncKvLKE/hqdefault.jpg "[ Offshore Tax ] Talk to me about Form 5471 please?")
よくある質問
Form 5471 FAQs
Who is required to file Form 5471?
US persons who own 10% or more of a foreign corporation's voting stock or are officers/directors of such corporations must file Form 5471. This includes shareholders of Controlled Foreign Corporations (CFCs).
What are the penalties for not filing Form 5471?
Failure to file can result in severe penalties, including $10,000 per form plus additional $10,000 per month for continued failure after IRS notification, with potential criminal penalties for willful neglect.
What new schedules were added to Form 5471?
Recent updates added Schedules Q and R to report CFC income and distributions, requiring more detailed information about foreign corporation earnings and their allocation to US shareholders.