INTERNATIONAL TAX AND ASSET REPORTING FOR THE EVERYDAY CLIENT

INTERNATIONAL TAX AND ASSET REPORTING FOR THE EVERYDAY CLIENT | Jeffrey B. Travis, CPA

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