IRS Form 926 - Cash Transfers to Foreign Corporations
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- Опубліковано 17 лис 2024
- In this video, I discuss the IRS Form 926, "Return by a U.S. Transferor of Property to a Foreign Corporation," and all of the unique nuances of the form.
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Hi, this is quite helpful. Pls do upload a video for Partnership form 8865 as well.
thank you! we will definitely add that one to the list
Jason - If the taxpayer transfers less than $100,000 and and less than 10% of the value of the foreign company, then they don't have to file the Form 926, correct?
Hi Jason! thanks for posting this. Hopefully you still answer questions (fingers crossed). In 2021, we formed a Costa Rica corporation and 2 month after the corporation formation we purchased land under the company name. We didnt have a Costa Rica bank account at the time and so we used an escrow agent here in Costa Rica to send the funds from US to buy the land. Question is 2 fold:
1. Do I need to report this transaction on the form 926 for 2021?
2. If answer is yes to the previous question, do I report this transaction as cash or "other property"?
Thank you!
Hi. If we are making payments to different foreign corporations exceeding 100,000 USD for each then do we need to file form 926 for each foreign corporation separately or can we report cumulative payment made to all foreign corporations on a single form?
Do you need to file this form if the the foreign company buys back its own stock from a US shareholder--the foreign company paying cash to the US shareholder?
I would recommend filing for the share buyback. In effect you are transferring securities to a foreign corporation, which constitutes a transfer of property. The transfer of stock and gain recognition is reported in Section B of Part III.
Hi what is the procedure to obtain a transfer certificate
If you need a U.S. tax residency certificate, please view our video:
ua-cam.com/video/-N_TaTamEvQ/v-deo.html
Thankyou
You’re welcome 😊