IRS (IRC §6038 / §6046)
IRS Form 5471 (US persons owning a foreign corporation)
An information return for certain US officers, directors, and shareholders of certain foreign corporations (filer categories 1–5).
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- What it is
- An information return for certain US officers, directors, and shareholders of certain foreign corporations (filer categories 1–5).
- Who must file
- US persons who meet one of the §6038/§6046 ownership or officer/director categories with respect to a foreign corporation.
- Deadline
- Attached to the filer's income tax return and due by that return's due date, including extensions (about April 15 for a calendar-year individual, plus extensions).
- Penalty if missed
- $10,000 per form, per year, per foreign corporation; an additional $10,000 per 30-day period after a 90-day IRS notice window (capped at $50,000 per failure), plus a possible reduction of foreign tax credits.
- Official source
- IRS — Instructions for Form 5471 — verified as of 2026-06-22