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Can someone explain to me briefly the differences of filing

Form 5471, 5472 and 1120F...
Can someone explain to me briefly the differences of filing Form 5471, 5472 and 1120F? In what situations should we file those forms?
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Answered in 13 minutes by:
9/17/2013
Lev
Lev, Tax Advisor
Category: Tax
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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.

Customer:

Great! Thanks for the short and sweet answers!

Lev
Lev, Tax Advisor
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Experience: Taxes, Immigration, Labor Relations
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