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Foreign private pensions are FBAR-reportable when the $10,000 aggregate threshold is met. Government social security generally is not. Here is the distinction.
Foreign crypto exchanges trigger U.S. income reporting, possible FBAR, and Form 8938 filings. Here is the full framework and how to comply with each piece.
Ignoring Form 5471 stacks penalties at $10,000 per year per corporation, extends the statute of limitations, and can trigger criminal exposure in some cases.
Most U.S. persons with foreign corporate ownership need to file Form 5471 and related forms. Here are the thresholds, the attribution rules, and the common
The $10,000 Form 5471 penalty has multiple paths to relief: reasonable cause, disclosure programs, and procedural challenges. Here is how each one works.
Form 5471 reports U.S. ownership of foreign corporations. Five filer categories, multiple schedules, $10,000+ penalties for nonfilers. Here is the structure.
Owning a foreign company triggers a stack of U.S. forms: 5471, 8865, 8858, FBAR, 8938, 8621. Here is the full reporting picture and how to