Foreign Compliance
Foreign Compliance Services ensure that businesses and individuals meet U.S. tax obligations related to foreign assets and transactions. We assist with filing forms like Form 8938 for reporting specified foreign assets, FBAR for foreign bank accounts, and other required forms like 3520 for foreign trusts and gifts, 5471 for foreign corporations, and 8865 for foreign partnerships. Our services ensure compliance with U.S. tax laws to avoid penalties for failure to report foreign financial interests.
Form 8938
Statement of Specified Foreign Financial Assets. This form is used to report specified foreign financial assets if the total value exceeds certain thresholds.
FinCEN Form 114 (FBAR)
Report of Foreign Bank and Financial Accounts. This form is required if you have a financial interest in or signature authority over foreign financial accounts exceeding $10,000.
Form 3520
Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts. This form is used to report certain transactions with foreign trusts, ownership of foreign trusts, and receipt of large gifts or bequests from foreign persons.
Form 3520-A
Annual Information Return of Foreign Trust with a U.S. Owner. This form is filed by foreign trusts with at least one U.S. owner.
Form 5471
Information Return of U.S. Persons with Respect to Certain Foreign Corporations. This form is used by U.S. persons who are officers, directors, or shareholders in certain foreign corporations.
Form 5472
Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. This form is used to provide information on reportable transactions with the foreign or domestic related party.
Form 926
Return by a U.S. Transferor of Property to a Foreign Corporation. This form is used to report certain transfers of property to foreign corporations.
Form 8865
Return of U.S. Persons with Respect to Certain Foreign Partnerships. This form is used to report interests in foreign partnerships