INTERNATIONAL TAX AND ASSET REPORTING FOR THE EVERYDAY CLIENT
There are various forms to consider to report a U.S. person’s interest in certain foreign assets.
These are the following forms to consider:
1) FinCEN Form 114-Report of Foreign and Financial Accounts (“FBAR”)
2) Form 8938-Statement of Specified Foreign Financial Assets
3) Form 3520-Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts
4) Form 3520-A-Information Return of Foreign Trust with a U.S. Owner
5) Form 5471-Information Return of U.S. Persons with Respect to Certain Foreign Corporations
6) Form 5472-Information Return of a 25% Foreign-Owned U.S. Corporation or Foreign Corporation Engaged in a U.S. Trade or Business
7) Form 926-Return by a U.S. Transferor of Property to a Foreign Corporation
8) Form 8621-Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund
9) Form 8865-Return of U. S. Persons with respect to Certain Foreign Partnerships
10) Form 8858-Information return of U.S. Persons with Respect to Foreign Disregarded Entities