Form 5471 (Schedule O)
Form 5471 (Schedule O)

Online IRS Form 5471 (Schedule O) in PDF 2012-2019

What Is Form 5471 (Schedule O)

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Schedule o of forum 54 71 needs to be filed only by category 2 and category 3 filers category 2 filers fill out part 1 and category 3 filers complete part 2 at the top of schedule o you put the name of the us person filing the form and their us identifying number then you list the name of the foreign corporation most foreign corporations do not have a u.s. CIN part 1 is filled out by US officers and directors and provides information about the US shareholders and their acquisitions of shares in the foreign corporation for example the name the address of the shareholder and the identifying number of the shareholder the date of the original 10% acquisition and if applicable the day of any additional 10% acquisition of shares part 2 is broken into sections a through F section a has basic information about the US shareholders including the name address identifying number the type of tax return filed by that shareholder the date the return was filed where it was filed and if applicable the last time the shareholder filed a schedule o for this foreign corporation note that category 3 filers include individuals who become US residents during the year so if a non-resident alien moves to the US during the year and becomes a u.s. person for that year for purposes of filing form 54 71 the individual is effectively treated as having acquired the shares of the foreign corporation when they move to the US just as Part 1 had us officers and directors tattling on us shareholders part 2 Section B has US shareholders tattling on us officers and directors in Section C you list the details of the acquisition of shares of stock such as the name of the shareholder acquiring the shares the class of shares acquired the date of the acquisition the method of the acquisition and the number of shares acquired directly indirectly or constructively the ownership rules can get a bit complicated at the top of page 2 section C continues where you list the amount paid for the shares in the name and address of the person from whom you acquired the shares you complete section D if the US shareholder disposed of the shares listing pretty much the same information as with the position of the shares section II is completed if the corporation was just organized or reorganized for example if the foreign corporation was just organized you list the names and addresses of the transfer ORS they're identifying numbers the dates of the transfers descriptions of the assets transferred the fair market value and adjusted basis of the assets transferred and the securities issued by the foreign corporation typically shares of stocks such as common or preferred stock item a of section F requires that a statement be attached if the foreign corporation or a predecessor US corporation filed a US tax return for any of the last three years item