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Form 5471 reports U.S. ownership of foreign corporations. Five filer categories, multiple schedules, $10,000+ penalties for nonfilers. Here is the structure.
Some foreign pensions are foreign trusts. Others are not. Here is how Australian super, U.K. pensions, and Canadian RRSPs are classified for U.S. reporting.
Missing Form 3520-A triggers penalties starting at $10,000 or 5 percent of trust assets per year. Here is how the penalty works and the paths
A foreign relative can name you in their trust. The U.S. tax bill that follows depends on timing, structure, and whether anyone planned for the
A foreign trust is not always called one. Here is the legal definition, the forms it triggers, and how to find out if you have
Not for the receipt. For the failure to report. The receipt is tax-free; the missing Form 3520 is what generates the penalty. Here is how
Late Form 3520 filings trigger automatic penalty assessment. Most can be abated under reasonable cause. Here is the path from penalty notice to abatement.