Form 8938 for my foreign-owned LLC — when is the LLC a 'specified domestic entity' and what are the penalties?
My foreign owner uses a Wyoming LLC to hold a brokerage account in Switzerland. We've been filing the LLC's Form 5472 and the owner's FBAR. Someone said the LLC itself might also have a Form 8938 obligation as a 'specified domestic entity.' What triggers that and what's the penalty if we miss?
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