Nomadic.Tax
JURISDICTION/US AUTHORITY/IRS TAX YEAR/2025 CLUSTER/US

US Tax Filing for Americans with Foreign Companies

US citizens and green card holders who own or have significant interests in foreign corporations face some of the most complex reporting obligations in the US tax code. From Form 5471 for controlled foreign corporations to GILTI (Global Intangible Low-Taxed Income) and Subpart F inclusions, the requirements go well beyond a standard expat return. Getting these right requires specialised expertise.

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APPLICABILITY/WHO THIS IS FOR

Who this is for

✓ US citizens or green card holders who own 10% or more of a foreign corporation
✓ Americans who are officers or directors of a foreign company
✓ Entrepreneurs running a foreign-incorporated business while filing US taxes
✓ Those with passive investments in foreign entities that may trigger Subpart F
✓ Americans who own or co-own a foreign LLC, limited company, or similar structure
FILING RECORD/FORMS THAT MAY APPLY

What this filing may involve

Every situation is different. The forms below commonly apply — your specific filing may vary.

Form 5471 — Information Return for US Persons with Respect to Certain Foreign Corporations
Form 8992 — US Shareholder Calculation of Global Intangible Low-Taxed Income (GILTI)
Form 1040 — incorporating Subpart F income inclusions
Form 2555 — FEIE on any foreign earned income alongside the corporate reporting
Form 1116 — Foreign Tax Credit on GILTI or Subpart F income
FBAR — FinCEN Form 114 for any foreign financial accounts
DOCUMENTS/INFORMATION REQUIRED

Documents usually needed

■ Foreign company financial statements (balance sheet, profit and loss) for the tax year
■ Ownership percentage and share certificate or register
■ Company formation documents and registered country
■ Records of any dividends, distributions, or loans from the company
■ Details of any other US shareholders (for Category 3, 4, or 5 filers)
PROCESS/RETURN ASSEMBLY

How Nomadic.Tax works

AI-assisted preparation with licensed professional review — every time.

1
INFORMATION
We determine your filing category under Form 5471 based on your ownership percentage and role
2
DOCUMENTS
Our specialists calculate any Subpart F income inclusions or GILTI exposure
3
AI PREPARATION
We integrate the corporate reporting with your personal Form 1040, FEIE, and FTC
4
PROFESSIONAL REVIEW / E-FILE
A licensed CPA with international business experience reviews and files your complete return
PROFESSIONAL REVIEW/CPA / ACCOUNTANT SIGN-OFF

When human review matters

ⓘ Form 5471 has multiple categories (3, 4, 5) with different information requirements — classification matters
ⓘ GILTI can create significant US tax even when the foreign company pays local tax — the FTC offset is partial
ⓘ Subpart F inclusions bring certain passive and mobile income into US taxation regardless of distributions

Relevant plans

Choose the package that best fits your situation, or view all plans.

Most popular

Expat
$499
For Americans living abroad — FEIE, foreign tax credits and FBAR included.
  • ✓Everything in Premier
  • ✓Foreign Earned Income Exclusion (Form 2555)
  • ✓Foreign Tax Credit (Form 1116)
  • ✓FBAR filing (FinCEN 114) included
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Investor
$599
For expat investors and landlords with income on top of work or business.
  • ✓Everything in Expat
  • ✓Schedules D & E for investments and rentals
  • ✓Foreign asset reporting (Form 8938)
  • ✓FBAR filing (FinCEN 114) included
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REFERENCE/COMMON QUESTIONS

Frequently asked questions about US Tax Filing for Americans with Foreign Companies

What is Form 5471?

Form 5471 is an information return required from US persons with certain ownership or control over foreign corporations. It requires detailed financial information about the foreign company. Penalties for non-filing start at $10,000 per year per form.

What is GILTI?

Global Intangible Low-Taxed Income (GILTI) is a tax on the income of controlled foreign corporations that exceeds a 10% return on the company's depreciable tangible assets. It was introduced in the 2017 Tax Cuts and Jobs Act and affects many US expat business owners.

Do I have to report my foreign company even if it made no profit?

Generally yes, if you meet the ownership thresholds that trigger Form 5471 filing requirements. The form requires financial information about the company regardless of profitability.

Can I claim the Foreign Tax Credit against GILTI?

Partially. There's a 20% haircut on deemed paid foreign tax credits under the GILTI regime, limiting the FTC offset to 80% of foreign taxes. The interaction between GILTI and FTC is complex and benefits significantly from professional modelling.

Who is this for?

Browse by your situation for tailored guidance and the right package.

US Business Owners Abroad US citizens who own or control a foreign corporation, partnership, or disregarded entity. See who this is for →

Related filing services

US Expat Tax Filing → View filing service FEIE Tax Filing — Form 2555 → View filing service FBAR Filing — FinCEN Form 114 → View filing service

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AI-assisted preparation, reviewed and e-filed by licensed professionals. Fixed price, no surprises.

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