Foreign Investment Reporting


United States citizens and residents are taxed on their worldwide income, regardless of where they live or earn their income. To alleviate double taxation, taxpayers are allowed to claim a foreign tax credit or deduction for foreign taxes paid. This course examines the application and computation of the foreign tax credit.

The IRS is making a very proactive attempt to uncover hidden offshore accounts by requiring taxpayers owning foreign assets and accounts to file certain disclosure forms with their tax returns when foreign holdings exceed a specified value. The penalties for noncompliance can be substantial. This course identifies necessary forms and conditions that trigger a filing requirement.


Upon completion of this course, you will be able to:

  • Identify taxes that qualify for the foreign tax credit.
  • Identify when Form 1116, Foreign Tax Credit, is required to claim the foreign tax credit.
  • Categorize types of specified foreign financial assets.
  • Summarize when a taxpayer is required to file Form 8938, Statement of Specified Foreign Financial Assets.
  • Identify when a taxpayer is required to file FinCEN Form 114, Report of Foreign Bank and Financial Accounts.

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.


Presented by:

How to Earn CPE

To receive credit for this self-study course, you must successfully pass the course exam with a score of 70% or better.

Self-study courses and exams generally expire one year from the date of purchase. The AFTR course expires on December 31 of each year as required by the IRS.

Cancellation Policy

​Because this is an online education offering, it is nonrefundable.

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