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JURISDICTION/US AUTHORITY/IRS TAX YEAR/2025 CLUSTER/US

Form 5471 Filing for US Owners of Foreign Companies

Form 5471 is required from US persons who have certain ownership, control, or officer/director positions in foreign corporations. It's one of the most complex international information returns, requiring detailed financial information about the foreign company including a balance sheet, profit and loss statement, and shareholder information. Penalties for non-filing or incorrect filing start at $10,000 per year per form.

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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 corporation
✓ Expats who founded or co-founded a foreign limited company, LLC, or corporation
✓ US persons who acquired shares in a foreign company exceeding 10% ownership
✓ Those who control a foreign corporation through indirect ownership
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 — GILTI calculation for controlled foreign corporations
Form 1116 — FTC on GILTI or Subpart F inclusions
Schedule J — , P, Q — Accumulated earnings, distributions, and other required schedules
Form 1040 — incorporating Subpart F and GILTI inclusions from the foreign corporation
DOCUMENTS/INFORMATION REQUIRED

Documents usually needed

■ Foreign company financial statements (balance sheet and income statement)
■ Ownership structure and percentage ownership
■ Company formation documents and country of incorporation
■ Details of any distributions, loans, or transactions with the company
■ Any prior Form 5471 filings
PROCESS/RETURN ASSEMBLY

How Nomadic.Tax works

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

1
INFORMATION
We determine your filing category (1–5) based on your ownership percentage, role, and the nature of the company
2
DOCUMENTS
The required schedules are prepared using the company's financial statements
3
AI PREPARATION
GILTI and Subpart F inclusions are calculated and incorporated into your Form 1040
4
PROFESSIONAL REVIEW / E-FILE
A licensed CPA with international business expertise reviews and files your complete package
PROFESSIONAL REVIEW/CPA / ACCOUNTANT SIGN-OFF

When human review matters

ⓘ Categories 3, 4, and 5 filers have significantly more extensive reporting requirements than Category 1
ⓘ GILTI creates US tax on the foreign company's income even without distributions — proactive planning is important
ⓘ Related-party transactions between you and the company must be disclosed and arm's-length pricing documented
Authority Guide

Independent research and educational guidance from the Nomadic Tax Institute.

Form 5471 Guide — Foreign Corporation Reporting →

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 Form 5471 Filing for US Owners of Foreign Companies

What are the Form 5471 categories?

Categories 1–5 determine which schedules are required. Category 5 filers (US shareholders of controlled foreign corporations) have the most extensive obligations, including full financial statement reporting and GILTI calculations. Category 1 filers (US shareholders who are not category 5 filers) have reduced requirements.

Does my foreign company have to pay US tax?

Not directly. But as a US shareholder, you may have US taxable income inclusions from Subpart F (certain passive and mobile income) and GILTI regardless of whether the company distributed anything to you.

What if I missed Form 5471 in prior years?

The IRS has a relief procedure for reasonable cause non-filing. The Streamlined Procedure can also address delinquent international information returns including Form 5471 in many cases. Acting promptly before the IRS contacts you is important.

Who is this for?

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

US Business Owners Abroad US owners of foreign companies required to file Form 5471 annual disclosures. See who this is for →

Related filing services

US Filing for Americans with Foreign Companies → View filing service Foreign Tax Credit — Form 1116 → View filing service US Expat Tax Filing → View filing service See All Pricing & Plans → View pricing & packages

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