Form 926 Reporting Transfers to Foreign Corporations: Avoiding Harsh Penalties
Ensuring Consistency Between FATCA, FBAR, Form 5471 and Other Foreign Asset Forms
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax advisers and compliance professionals with a comprehensive guide to reporting transfers of property to foreign corporations, as well as review the technical analysis of the types of transactions that require such reporting. The panel will identify the types of transactions that trigger Form 926 reporting obligations and discuss required information to be reported on Form 926. The webinar will also cover the relationship between Form 926 and other required foreign information filings and address penalties for failure to report relevant transactions on Form 926.
- Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation
- Transactions requiring Form 926 reporting
- What must be reported on Form 926
- Unique issues related to partnerships and hedge funds
- Penalties for noncompliance
- Best practices
The panel will discuss these and other relevant issues:
- What types of transactions potentially require Form 926 reporting and what are the thresholds for Form 926 reporting?
- A detailed walk-through of Form 926
- What are the Form 926 reporting requirements when a partnership transfers property to a foreign corporation?
- What are the challenges of completing Part III, Information Regarding Transfer of Property, and how Part III intersects with Form 5471 and FinCEN Form 114?
- What are the calculations required to complete Part IV, Additional Information Regarding Transfer of Property?
Brett M. Bloom
International Tax Senior Manager, Washington National Tax
Mr. Bloom is a Senior Manager in the International Tax Group within KPMG’s Washington National Tax office. He... | Read More
Mr. Bloom is a Senior Manager in the International Tax Group within KPMG’s Washington National Tax office. He consults clients on a wide variety of international tax matters, including cross border restructuring, foreign tax credit management, cash repatriation, and tax treaty application. A recent focus of Mr. Bloom’s practice has been helping clients navigate the implications of U.S. tax reform, including changes to the foreign tax credit, the global intangible low-taxed income (GILTI) regime, the section 245A dividends received deduction, and the base erosion and anti-abuse tax (BEAT).Close
Kevin J. Brogan, Esq.
Principal, International Tax, Washington National Tax
Mr. Brogan provides advice on a wide range of international tax issues, for both multinational and private equity... | Read More
Mr. Brogan provides advice on a wide range of international tax issues, for both multinational and private equity clients, including foreign tax credits, earnings-stripping limitations, tax-efficient repatriations, and deficit planning. Throughout his career, he has worked on numerous cross-border mergers, acquisitions, dispositions, and internal restructurings.Close
Daren J. Gottlieb
International Tax Manager, Washington National Tax
Mr. Gottlieb specializes in domestic and cross-border transactions involving complex international tax issues. He has... | Read More
Mr. Gottlieb specializes in domestic and cross-border transactions involving complex international tax issues. He has provided international tax advice for a broad range of U.S. multi-national and foreign-owned clients doing business in the United States and foreign jurisdictions. Mr. Gottlieb received his JD from Western State College of Law and his LL.M. in Taxation from the Chapman University School of Law.Close
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