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Form 5471 Categories of Filers: Determining the Proper Category and Filing Requirements

Note: CLE credit is not offered on this program

A live 110-minute CPE webinar with interactive Q&A

This program is included with the Strafford CPE Pass. Click for more information.
This program is included with the Strafford CPE+ Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Monday, August 5, 2024

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

Early Registration Discount Deadline, Friday, July 12, 2024

or call 1-800-926-7926

This course will explain each category of filer on Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations. Our knowledgeable international panel will discuss relative and recent legislation, the accompanying Form 5471 schedules that must be filed by category, and the exceptions to the Form 5471 filing requirements and requirements to file specific schedules.


Form 5471 is one of the most challenging information returns filed by taxpayers. One of the most formidable decisions tax professionals must make is whether or not the return is required. A taxpayer's filing category determines whether a Form 5471 is required and which of the many supporting schedules are needed. An inaccurate decision could be costly since incomplete filings or not filing carries a $10,000 penalty.

This form is continually updated. In addition to the five categories, there are three subcategories to consider in category five. There are exceptions to the filing requirements in each of the five categories as well. Foreign tax advisers need to thoroughly understand the current categories of filers and the corresponding Form 5471 filing obligations of taxpayers with foreign interests.

Listen as our panel of international tax filing experts walks you through determining the appropriate category on Form 5471 for multinational taxpayers.



  1. Legislative history
  2. Form 5471 categories
  3. Definitions
  4. Categories 1-5
  5. Exceptions
  6. Incomplete or missed filings
    1. Consequences
    2. Solutions


The panel will review these and other critical issues:

  • Identifying category 1-5 filers and the complex attribution rules applicable to each category
  • Transactions triggering Category 2 and 3 filing status
  • Which specific Form 5471 schedules are needed based on a filer's category
  • What Form 5471 exceptions are available, and what are the qualifications for these exceptions?
  • What are the potential consequences of incorrect Form 5471 filings?


Diaz Colon, Franchelly
Franchelly (Chelly) Diaz Colon, CPA, MSL

Senior Manager
WilkinGuttenplan CPAs & Advisors

Ms. Diaz Colon specializes in international tax matters including CFC/PFIC rules, cross-border mergers and...  |  Read More

Schmid, Kristin
Kristin L. Schmid, JD, LLM

Kulzer & DiPadova

Ms. Schmid is a shareholder in the firm. She earned her J.D. from Villanova University School of Law specializing...  |  Read More

Attend on August 5

Early Discount (through 07/12/24)

CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.

Cannot Attend August 5?

Early Discount (through 07/12/24)

CPE credit is not available on downloads.

CPE On-Demand

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