Foreign Corporate Tax Issues for Individuals Webinar
A controlled foreign corporation (CFC) is a corporate entity that is registered and conducts business in a different country than the residency of the controlling owners. This webinar will examine foreign corporations, controlled foreign corporations and passive foreign investment companies that have U.S. shareholders. We will discuss the forms required and look at the Tax Cuts and Jobs Act transition tax. By the end of this webinar you will be better prepared to tackle these complex foreign tax issues.
Upon completion of this course, you will be able to:
- Differentiate between the U.S. tax implications of ownership in foreign corporations, controlled foreign corporations (CFC) and passive foreign investment companies (PFIC)
- Identify a CFC and the reporting requirements including Form 5471, Information Return of U.S. Persons With Respect To Certain Foreign Corporations
- Examine the Tax Cuts and Jobs Act transition tax
- Identify a PFIC and the reporting requirements including Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund
- Examine the common pitfalls of PFIC ownership
Subject matter experts will answer your questions during the presentation. We make every effort to answer as many questions as possible during the webinar but we may not be able to directly address every question.
This webinar includes the presentation slides, attendee top questions and access to the webinar recording.
Katrina Haynes, CPA