I do not directly own the foreign company. I only look like an owner because of downward attribution from a foreign parent. Do I still have a full Form 5471 filing?
I work through a U.S. subsidiary, and after the attribution rules changed, my tax adviser said I might be treated as owning stock in a foreign sister company even though I do not directly hold any of it. That sounds absurd from a practical business perspective, and I have no real access to the foreign company's books.
I know the IRS created some relief after the downward-attribution rules started catching these cases. What I cannot tell is whether that relief means no filing at all, reduced filing, or still a full filing with impossible information requests. I need to know which lane this kind of constructive-only ownership usually falls into.
Related Questions
I only own the foreign partnership interest constructively through another U.S. person. Can I skip the full Form 8865 if that person files it?
I am treated as an indirect owner of a foreign partnership through a U.S. company in which I own shares, but I do not hold the partnership interest directly. The direct U.S. owner plans to file Form 8...
I have GILTI, but I am just an individual and did not make a section 962 election. Do I still file Form 8993?
I keep seeing online comments that GILTI comes with a section 250 deduction, and that makes people say 'just file Form 8993.' But I am not a domestic corporation, and I have not made a section 962 ele...
I own 80% of a foreign startup directly. Do I file Form 5471 as Category 4, Category 5, or both?
I am a U.S. person living in California and directly own 80% of a foreign software company in Singapore. The company is early-stage, has no distributions, and most of the discussion so far has been ab...
My foreign company made profit but paid me nothing. Can I still have GILTI on Form 8992?
I am a U.S. individual shareholder of a foreign company that retained all earnings this year to fund growth. There were no dividends, no shareholder loans, and no personal withdrawals. That made me as...
I contributed software IP to a foreign partnership and ended up with 15%. Is that enough to trigger Form 8865 even though I do not control it?
I am a U.S. tax resident this year, originally from Brazil, and I contributed developed software rights to a foreign partnership based in Estonia. After the contribution I own 15%, but the business is...
I am an unrelated minority U.S. shareholder in a foreign-controlled CFC and cannot get full tax books. Does the IRS let me use alternative information?
I own a minority stake in a foreign corporation that may be a foreign-controlled CFC, but I do not have the power to demand full tax accounting packages from the controlling foreign owners. That makes...
We operate in Portugal without a separate local company yet. Is that a Form 8858 foreign branch issue or only an FDE issue after we incorporate there?
Our U.S. business opened operations in Portugal and hired a local team, but we still have not formed a separate Portuguese company. One adviser says Form 8858 only comes in once there is a foreign dis...
Two U.S. founders each own 45% of a foreign corporation, and a foreign angel owns the other 10%. Is it a CFC?
My cofounder and I are both U.S. taxpayers, and we each own 45% of a foreign corporation. A foreign angel investor owns the remaining 10%. No one person owns more than 50%, which made us think we migh...
My CPA says I might make a section 962 election because of GILTI. Is that an entity change or only a tax-election change for me personally?
I am a U.S. individual who owns a foreign corporation directly. My CPA said section 962 might help because of the GILTI inclusion, but I keep hearing people describe it almost like creating a temporar...
I contributed $150,000 cash to a foreign company I now own 20% of. Is Form 926 triggered even though it was just startup capitalization?
I am a U.S. founder and wired $150,000 into a newly formed foreign corporation as part of the initial capitalization. I now own 20% after the transfer. The deal felt like ordinary founder funding, not...
Have a similar question?
ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.
Become a Member — $9.99/moDisclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.
