Contact UsI am a US citizen living only in a foreign country and intend to form this week a foreign corporation only doing consulting work to foreigners in the foreign country that I live in. I plan to be the only stockholder . What should I do regarding my US obligation to file yearly forms? Will I have no choice but to file annually 5471 form . What about 8832 and 8858. Will I be considered a CFC or a FDE? Any suggestions on how to set up this foreign corporation to avoid US problems of compliance?
TaxConnections Members... Answer This Question
Want To be One of Our Tax Experts? Register Here
Tax Professional Answers
David McKeegan
Hello,
With regards to your message, I think this article we wrote will be a huge help for you. It goes over the reporting obligations surrounding Form 5471, and also some advice you should consider.
www.greenbacktaxservices.com/blog/form-5471-us-persons-and-foreign-corporations/
As far as Forms 8832 and 8858 go, I would recommend having a sit down with an expat accountant to really get some solid advice on what is needed, etc.
I hope this helps!
David McKeegan
Leave a Comment
538 weeks ago
With regards to your message, I think this article we wrote will be a huge help for you. It goes over the reporting obligations surrounding Form 5471, and also some advice you should consider.
www.greenbacktaxservices.com/blog/form-5471-us-persons-and-foreign-corporations/
As far as Forms 8832 and 8858 go, I would recommend having a sit down with an expat accountant to really get some solid advice on what is needed, etc.
I hope this helps!
David McKeegan
David McKeegan
Hello,
With regards to your message, I think this article we wrote will be a huge help for you. It goes over the reporting obligations surrounding Form 5471, and also some advice you should consider.
www.greenbacktaxservices.com/blog/form-5471-us-persons-and-foreign-corporations/
As far as Forms 8832 and 8858 go, I would recommend having a sit down with an expat accountant to really get some solid advice on what is needed, etc.
I hope this helps!
David McKeegan
Leave a Comment
538 weeks ago
With regards to your message, I think this article we wrote will be a huge help for you. It goes over the reporting obligations surrounding Form 5471, and also some advice you should consider.
www.greenbacktaxservices.com/blog/form-5471-us-persons-and-foreign-corporations/
As far as Forms 8832 and 8858 go, I would recommend having a sit down with an expat accountant to really get some solid advice on what is needed, etc.
I hope this helps!
David McKeegan