How to File Form 1120 with a Form 5472 Filing for US Corporations
Вставка
- Опубліковано 9 сер 2022
- Every U.S. domestic corporation must file an annual Form 1120 corporate tax return. In cases where the domestic corporation is owned by foreign persons, additional disclosures are required, such as Form 5472.
In this fact pattern, we have a foreign person who owns 100% of the stock of a Delaware corporation. This is a sample Form 1120 filing with a Form 5472 disclosure.
Form 5472 filing obligations are found in Treasury Regulation Section 1.6038A-2.
If you need help with Form 5472 for a foreign-owned U.S. disregarded entity, see our videos here:
Form 5472 Filing: • Form 5472 for a Foreig...
What's a Reportable Transaction: • Form 5472 Reportable T...
Form 5472 Penalties: • IRS Penalties on Late ...
For a larger database of tutorials, please visit our website and search for your question:
knottlearning.com/
DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
#Taxes #Form5472 #Form1120 #corporatetax
hmm quite resourceful.. thanks for sharing these contents sir. I am going to watch all your videos sooner.
Well explained and extremely helpful! Thank you so much!
Thanks a lot. This form looks easy to handle now
Thanks!
Thank you for the support!
Hi Jason,
Thank you sharing this video, It is much help for me and other taxpayers who are filling this form. I have 2 question regarding this form is firstly do we need to use full country name or just abbreviated name as per the form instruction in 4c,4d. And my second question is as a foreign citizen, can I enter my company EIN in 4c US identifying number or use FOREIGNUS. Thank for helping out.
YOU ARE AMAZING. THANKS FOR YOUR WORK AND SHARING ALL THE PROFESSIONAL KNOWLDGE WITH US. THANK YOU VERY MUCH
Excellent explanation. Thanks. Do you know why partnerships are not included in this regulation? What is the IRS looking that is not in the Tax returns?
Such a wonderful video. Great. I have one question.
Can we fax the forms? if yes, then Which is the fax number of IRS to send these forms??
Hi Jason, question if you able to answer. If there are no monetary transaction for the year in part 4, but we want to disclose non-monetary info in part 6 only. Part 3 needs to be filled out then right? My software "yelling" at me that if part 3 is checked, part 4 must be filled out. Thank you for the video, better than some CPE classes
Aloha Jason! Why in your example did you not include the $50,000 Additional Paid in capital on the 5472 that was reported on the balance sheet Line 23? Does that not need to be reported on the 5472?
Hi Jason. Thanks for your channel
Can you add a tutorial for same situation 1120 DE Corp with 50% shareholder US person and 50% owned by Foreign Person. Thank you
In this case the payment to the shareholder was via 1099 NEC?
that's very helpful, BUT i missed my filing deadline 18th April 2023. I have $500 in transation to show . Can you please advise
Please advise how to file this Form 5472 with Form 1120?
Thanks for this, now how do you submit these? Could you guide us on that too?
A question regarding you your created scenario. Did Hans just wire $65,00 back to his bank account in Cayman Island as his salary. Did he need to pay payroll tax for the above mention $65,000 in the USA? I would assume the answer is no because Hans is not authorized to work in the USA.
Hi Jason,
If an LLC with a single participant, a foreign individual, did not receive income in the reporting period, do I need to submit Form 5472 or any others?
Hi Jason,
I have questions related to submission of form, should i have to add only first page of 1120 and merge 5472 along ?? Or should i have to attach entire 1102 along woth 5472?? , i want to submit ot via fax.
It will be very helpful for me, if you answer.
Thanks
What about a multiple member LLC with foreign ownership? DO they need to file a 5472?
Hi, how a C Corp with non U.S. Source income and 100% foreign-owner need to report 1120, on this case pay taxes (21%) or it is only for information purposes adding form 5472 with reportable transactions? Do you have any course about this?
The company is considered engaged in a U.S. trade or business because it has employees based in Florida and Delaware. That's why it's required to pay US taxes. Maybe Jason Can confirm and advise what tax return this Corp is required to file in case no US employees.
Is your service for filling this form out for hire sir?
Do I e-file the Form 1120 and attached Form 5472 as a PDF attachment?
If you are e-filing a Form 1120 for a domestic corporation using approved tax preparation software, most software providers will include the Form 5472 in the XML for e-filing, so you don't have to attach it as a PDF. If, however, you are using some service that won't prepare the Form 5472 for e-filing, then you would have to separately attach the form.
@@JasonDKnott THANKS
Thanks!
Thanks for the support!