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Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3289
Experience:  18+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
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I am a US citizen living in China. Last year I established

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I am a US citizen living in China. Last year I established a BVI (has no activity) to hold a Hong Kong company. In February this year I also established a company in Shanghai China via the Hong Kong company (i.e. Hong Kong company holds Shanghai company.

I know that I have to file Form 5471 with my tax return for the BVI company. But how will the Hong Kong company and Shanghai get reported with Form 5471? It seems like the picture is getting complicated.


bkb1956 :

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. I hope this information is helpful to you.




Thanks. Do I also need to file Form 8858?

bkb1956 :

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 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.



Barbara and other Tax Specialists are ready to help you
Hi, Winnie.

Thank you for the positive rating. It is most appreciated. If you have any questions in the future, please put "for bkb1956" in the subject line of your question, and I will be happy to assist you.

Thank you and best regards.