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Information provided on this site is for general guidance only and
is often simplified. Actual IRS procedures are complex, and taxpayers
should obtain professional assistance or use IRS sources for complete
information.
Foreign
Corporations The corporate
forms businesses may use to operate outside the
US and their tax characteristics.
Controlled
Foreign Corporation A
US person who is a shareholder of a CFC is potentially
liable for US tax and required to keep records.
DISC
A corporation must elect IC-DISC
status by filing Form 4876-A.
Foreign
Corporations
Foreign corporations that have effectively connected
income must file a tax return. Corporations that
earned only non-effectively connected income do
not have to file a return if the tax on the income
has been fully paid through withholding by the
payor. If the corporation is due a refund or owes
tax, a return must be filed.
Form
1120-F must be filed with the Internal Revenue
Service PO Box 409101 Ogden, UT 84409 by the 15th
day of the 6th month after the end of the foreign
corporation's tax year, if the foreign corporation
does not maintain an office or place of business
in the United States. Such foreign corporation
may use Form 7004 to request an automatic 6-month
extension of time to file.
If a foreign corporation maintains an office or
place of business in the United States, it must
file Form 1120-F by the 15th day of the 3rd month
after the end of its tax year. A corporation operating
in this manner may get a 3-month extension by
attaching a statement to its Form 1120-F.
A
foreign corporation that is engaged in a trade
or business in the United States at any time during
a taxable year may be required to provide certain
information to the Internal Revenue Service on
Form 5472.
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THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting
the information contained on this site, but accepts no responsibility
for any financial or other loss or damage that may result from its use.
In particular, users of the site are advised to take appropriate professional
advice before committing themselves to involvement in offshore jurisdictions,
offshore trusts or offshore investments. All materials on this site copyright
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