Have a Tax Question? Ask a Tax Expert
Welcome and thank you for giving me the opportunity to assist you with your tax question. You will complete a separate Form 5471 and all applicable schedules for each foreign corporation. You will have to determine which schedules are applicable for each of the companies. For your ready reference, the following are the instructions for Form 5471. http://www.irs.gov/pub/irs-pdf/i5471.pdf I hope this information is helpful to you.
Thanks. Do I also need to file Form 8858?
Good morning, Winnie. You would file Form 8858 if you own a foreign disregarded entity (FDE) directly or, in certain circumstances, indirectly or constructively. Complete instructions for Form 8858 can be found at http://www.irs.gov/pub/irs-pdf/i8858.pdf Only you know what your circumstances are and if you are required to file both. Please let me know if I can assist you further. Thank you.