The filings with the sharpest teeth in the code.
Foreign account, trust, and gift reporting carries some of the steepest civil penalties in the Internal Revenue Code — often assessed regardless of whether any tax was actually owed. We prepare these filings correctly and on schedule.
FBAR — FinCEN Form 114
Report of Foreign Bank and Financial Accounts for individuals and entities with a financial interest in, or signature authority over, foreign accounts exceeding the aggregate reporting threshold.
- Aggregate-value threshold review
- Joint and signature-authority accounts
- Delinquent FBAR submission procedures
Form 3520 & 3520-A
Reporting for transactions with foreign trusts, and for gifts or bequests received from foreign persons or estates above the applicable threshold.
- Foreign gift & bequest reporting
- Foreign trust transaction reporting
- Foreign grantor trust annual filings (3520-A)
Form 5471
Information return for US persons who are officers, directors, or shareholders of certain foreign corporations.
- Category filer determination
- Schedules J, M, and P preparation
- Subpart F and GILTI coordination
Forms 8865 & 8858
Information returns for US persons with interests in foreign partnerships and foreign disregarded entities or branches.
- Foreign partnership reporting (8865)
- Foreign disregarded entity & branch reporting (8858)
- Category and schedule determination