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Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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Can someone explain to me briefly the differences of filing

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Can someone explain to me briefly the differences of filing Form 5471, 5472 and 1120F? In what situations should we file those forms?

Lev :

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.


Great! Thanks for the short and sweet answers!

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