Foreign Activities Reporting Requirements for Exempt Organizations: Form 990 Schedule F and Other Returns
Identifying Required Disclosures and Tracking Location and Nature of Foreign Accounts For Nonprofits
Recording of a 110-minute CPE webinar with Q&A
This course will provide an in-depth exploration into the determinations, calculations, disclosures, and tax reporting of foreign investments, accounts, and activities held or engaged in by nonprofit/exempt organizations. The panel will offer practical guidance into identifying foreign investments that do--and do not--require disclosure on Form 990 Schedule F and other returns, tracking the location of foreign accounts and investments, and reporting operations in a boycotting country.
Outline
- Definition of reportable foreign activities
- Form 990 Schedule F
- Reporting grants and exempt activities
- Schedule F, Part IV: statements of transfer to or ownership of foreign assets
- Other forms
- Form 926, Transfers of Property to a Foreign Corporation
- Form 5471, Information Return of U.S. Persons With Respect to Foreign Corporations
- Form 8621, Passive Foreign Investment Company
- Form 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships
- Form 5713, International Boycott Report
- The FBAR
- Case study with illustrations
Benefits
The panel will discuss these and other critical issues:
- What are the thresholds for various reporting obligations of foreign transfers, asset ownership, or income?
- What is the interplay among Form 990 Schedule F and other foreign informational forms?
- Interpreting K-1s with foreign holdings and other foreign income and asset statements to determine how and where to report activities and ownership of foreign assets.
Faculty
Jackie Coburn, CPA
Tax Senior Manager
Crowe
Ms. Coburn has experience in tax Compliance and Planning, including representation with taxing authorities -- federal,... | Read More
Ms. Coburn has experience in tax Compliance and Planning, including representation with taxing authorities -- federal, international and state tax compliance for nonprofit organizations and taxable health care entities. She is responsible for developing and implementing a comprehensive tax function. Tasks include managing and performing tax compliance, tax planning, representing taxpayers with taxing authorities, and designing & hosting education on federal, state, IRS required foreign tax reporting to stakeholders including board members. Includes sales tax and unclaimed property reporting, and related representation with governmental authorities.
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Kristin Kranich, CPA
Senior Manager International Tax
Crowe
Ms. Kranich serves clients in multiple industries, including the manufacturing, distribution, retail, and service... | Read More
Ms. Kranich serves clients in multiple industries, including the manufacturing, distribution, retail, and service industries in both the federal and international areas. She works closely with clients to provide a variety of services including compliance, tax research, and tax planning for both inbound and outbound transactions. Ms. Kranich is very involved with recruiting, coaching, and training within Crowe.
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