Form 5471 (Schedule O) Oceanside California 2012-2025

Form 5471 (Schedule O) Oceanside California: What You Should Know

Form 5471 is used when a U.S. person acquires or disposes of certain of its shares in a CFC. The Form 5471 provides information about foreign CFC's to U.S. shareholders that would otherwise have to file a form in connection with the acquisition or the disposition of their shares. Form 5471 is required when any of the following situations occur: (1) the CFC becomes a U.S. controlled foreign corporation; (2) the foreign CFC changes its name; or (3) the CFC or a U.S. person acquires or disposes of certain of its shares. Schedule O is required when a CFC is initially formed or a U.S. person acquires or disposes of its shares in its CFC's. Form 5471 Schedule O is used when a U.S. person acquires or disposes of a specified percentage share in a CFC that, if not acquired, would be a specified percentage owner of the U.S. shareholder holding such shares. The original intent of these regulations for Schedule O was to eliminate the need for a Form 8854 when the original CFC's stock is owned solely by U.S. persons (e.g., when the CFC is a REIT that owns stock in its REIT subsidiaries). However, in recent years, IRS tax enforcement personnel have made extensive use of Form 8854 when it is used to acquire shares of foreign corporations that are subject to the Foreign Acquisitions Regulations (FAR) in connection with other, unrelated transactions or foreign investments. Thus, it is important that taxpayers fully understand the requirements for their Schedule O when they acquire shares of foreign corporations under the FAR. See Form 8938, “Foreign Corporation Acquires or Disposes of Shares of U.S. Person Acquired in Connection with Foreign Government Acquisition,” for information on the applicable requirements. Form 5472, Return of Non-U.S. Shareholder Interest — IRS The general form for information about a person's interest in shares of a corporation that are owned by a nonresident alien individual for U.S. federal income tax purposes on the day this information is received by the foreign corporation (Form 5472). Additional Information Oct 15, 2025 — The Form 5472 is for information about nonresident aliens who own nonqualified stock.

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