Can someone explain the 5 categories of filers on Form 5471 in plain English?
I've been reading the Form 5471 instructions and the categories of filers section is incredibly confusing. I own shares in two different foreign companies — 8% in one and 25% in another. Both companies have other U.S. shareholders. How do I figure out which category I fall into for each company? The instructions keep referencing different code sections and the definitions seem circular.
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