Ask Experts Questions for FREE Help !
Ask
    gxu2009's Avatar
    gxu2009 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 14, 2011, 09:40 AM
    Should I file form 5471 this year?
    Hello, I am a US Citizen and a share holder of a foreign company. During the company restructuring this year, they set up a BVI holding company for me to hold all my shares, the lawyer said that I might need to file Form 5471 along with my personal tax returns, but he's not sure as he's not a tax professional, and I'm not sure if I need to do it this year or next year, the BVI company was registered on 2/15/2011 (100% owned by me).

    Pleas help! Thanks!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 29, 2011, 09:21 AM
    The complexity of this issue makes giving a concise answer impossible. The tax professional would need to know ALL of your financial details before giving an opinion.

    I recommend that you find a local tax professional and meet face-to-face to get an answer to this question.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Newly formed CFC, When to file 5471? [ 8 Answers ]

Hi, my husband (Swiss citizen, U.S. resident/green card holder) formed a corporation in Switzerland in October 2009. He is the only shareholder (100%). According to Swiss law, the accounting period for this first year will be October 2009-December 31 2010, then will be Jan 1-Dec 31 for all...

Must internationals file 8843 form either with 1040 or 1040NR every year? [ 1 Answers ]

Dear Tax experts, I have already filed 1040EZ last month and got return. I am an international grad student (with F-1 visa) and this year was my first time to file 1040 after filing 1040NR+8843 for 5 years, but I did not file 8843 form this time. However recently I heard that I still have to...

Which tax form do I file for 3rd year on J-1? [ 1 Answers ]

I am on a three year J-1 visa. For 2006 and 2007 tax years, I filed form 1040 NR. What tax form will I file for my 2008 taxes?

Status changed from f1 to h1 middle of year. Which form to file [ 2 Answers ]

Hi, I have been in the US from 2005 as F1. Last year on Oct1 my status changed to H1. I have been filing the 1040NR form for the last 2 years. This year I went to a tax consultant who suggested that I should file 1040 form. Is this the right form to use? Kindly advise.

Can you file more than one w2 form on one nys tax form or do you need additional forms? [ 1 Answers ]

We live in nys and my friend has had 3 different jobs throughout the year. Does he file all w2's on one form or have a form for each?

View more questions Search