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Miami-Dade Florida Form 5471: What You Should Know
Return of US Persons — Foreign Corporation — (Form 5472), is a required information return to file Instructions for Form 5472 (Rev. January 2023) — IRS What is the difference between Form 5472 and Form 5471? — EPG Business Law Instructions for Form 5472 (Rev. January 2018) — IRS Form 5472, Information Return of U.S. Persons — Foreign Corporations — includes information about certain interests, foreign subsidiaries, U.S. partnerships, U.S. trusts, and U.S. unincorporated associations with more than five members. In 2017, Form 5472 covered US citizens, U.S. residents of the US; certain nonresident aliens (including U.S. service members and their families), and foreign corporations. In general, the purpose of Form 5472 is to update a US person's list of US person interests or relationships with an overseas entity. This information may also be used to update the list of US persons' interests or relationships with a subsidiary of another US person if there is more than one entity listed on a Form 5472. Form 5472 is also used to update the list of US persons' interests or relationships with a partnership if there are more than two partners listed. In 2017, the IRS updated Form 5472 to report additional information such as US persons' ownership interests and tax indicators. The US persons must update their list of US person interests or relationships with each foreign entity. The foreign persons must update their list of US person interests or relationships with each foreign entity. Form 5472 includes the list of US persons' interests as well as information about a US person's status (e.g. status as an individual, partner, shareholder, or general partner) as a U.S. person. A US person is the owner or partner (or general partner of any entity). Note that Forms 5472 (including Forms 5472-EZ and 5472-PF) do not include information about individuals with total ownership interests in foreign corporations as of the date of filing Form 5472, (e.g., such as US individuals with partnerships). Such information should be reported on Form 5738 and/or on Form 5740 as a separate Schedule J or L.
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