Mastering Form 5472: New Filing Requirements for Foreign Individuals, LLCs, and Companies
Meeting Information Return Requirements for Foreign-Owned Corporations, Disregarded Entities and 25%-Foreign-Owned U.S. Corporations
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide tax advisers with a thorough and practical guide to completing Form 5472, focusing on the impact of new IRS regulations requiring 5472 reporting by foreign owners of disregarded entities (DREs). The panel will provide line-by-line guidance to completing the form, defining key concepts and discussing the impact of recent IRS rules expanding filing requirements.
- Statutory provisions of IRC 6038A and 6038C
- Key definitions
- Reporting corporations
- Reportable transactions
- Related parties
- New regulations (TD 9796) requiring foreign-owned DREs to file Form 5472
- Completing the form
- Penalty abatement provisions
The panel will discuss these and other important issues:
- What entities and individuals are subject to Form 5472 filing requirements?
- Identifying key elements of IRC 6038A and 6038C to determine definitions of transactions that must be reported
- Line-by-line guidance on completing Form 5472
- Steps that foreign individuals owning DREs operating in the U.S. must take to fulfill filing requirements
- Penalty abatement and mitigation provisions
Alison N. Dougherty, J.D., LL.M.
Ms. Dougherty has extensive experience assisting clients with U.S. tax reporting and compliance for offshore assets and... | Read More
Ms. Dougherty has extensive experience assisting clients with U.S. tax reporting and compliance for offshore assets and foreign accounts. She specializes in international tax compliance, planning and structuring as a subject matter leader of her firm's international tax practice. Her responsibilities include U.S. Federal and multi-state tax compliance for C corporations, S corporations, partnerships and individuals. She also provides transactional tax planning and structuring services.Close
Caplin & Drysdale
Ms. Burmester's practice focuses on international tax issues, including both planning and controversy work. She has... | Read More
Ms. Burmester's practice focuses on international tax issues, including both planning and controversy work. She has extensive experience advising high net worth individuals on international taxation issues, including advising foreign individuals on structuring investments into the U.S., and advising U.S. individuals on the U.S. tax implications of offshore investment and estate planning structures. She advises businesses on international taxation issues.Close
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