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FORM 5471 - INFO RETURN OF US PERSONS WITH RESPECT TO FOREIGN CORPS

  • 1.  FORM 5471 - INFO RETURN OF US PERSONS WITH RESPECT TO FOREIGN CORPS

    Platinum Most Valuable Member
    Posted 02-17-2016 11:58 AM

    I am working with a new taxpayer, a UK citizen, working in US on a 5 year visa.

    He is compensated by a US subsidiary, and has not received any UK income during 2015.

    He owns stock in a UK corp, assume for this question he owns in excess of 50% of the voting stock.

    Would I need to prepare a 2015 Form 5471 even though he has not acquired additional stock during 2015?

    Instructions seem to suggest the act of acquiring the stock triggers filing the form. 

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    Michael Jaffe
    CPA
    MICHAEL B. JAFFE, CPA PC
    Commack NY
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