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Hi and welcome to Just Answer!-- Form 1120F is an income tax return of a foreign entity doing business in the US. For instance - a Chinese corporation is doing business in the US - it will file the US tax return as a foreign corporation on form 1120F -- Forms 5471 is an Information Return of US Persons to report ownership (or change in the ownership) with Respect to Certain Foreign Corporations. For instance I an an US citizen and own 100% shares of a China corporation - thus I need to file form 5471 with my individual tax return.
-- Form 5472 is an Information Return of US corporations with a certain level of foreign ownership. For instance - an US corporation is registered in Delaware and 100% of shares are owned by 4 Chinese citizens. Such corporation will file US corporate tax return - form 1120 and will include form 5472. In additional foreign corporations should file form 5472 with the corporate tax returns 1120F.
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