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Discussion Forum Index --> Basic Tax Questions --> 5471 filing be exempted?
Discussion Forum Index --> Tax Questions --> 5471 filing be exempted?
Axia (talk|edits) said:
| 3 August 2009
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| my client just set up a foreign company as sole owner and got a new employment before starting the operation so the company is sitting on a shelf now. as such, would it be possible to have the filing of Form 5471 be exempted? Thanks
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Axia (talk|edits) said:
| 4 August 2009
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| my client just set up a foreign company as sole owner and got a new employment before starting the operation so the company is sitting on a shelf now. as such, would it be possible to have the filing of Form 5471 be exempted? Thanks
|
Smktax (talk|edits) said:
| 4 August 2009
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| In the year of acquisition (or disposition) a full fledged Form 5471 is required. For other years when the corporation is dormant, a Form 5471 must be filed but a simplified procedure can be used. See Rev. Proc. 92-70.
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Guya (talk|edits) said:
| 4 August 2009
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| There may be filing requirement in the other country, FBAR or Form 926 filing..
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DZOCPA (talk|edits) said:
| 24 September 2009
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| Where cam I get Rev. Proc. 92-70? I am having trouble finding it. It does not appear to be on this website.
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DZOCPA (talk|edits) said:
| 25 September 2009
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| Thanks! I really appreciate it.
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