Expertise in Offshore Tax Forms

Foreign-Owned LLC Reportable Transactions

Foreign-Owned LLC Disclosures include Reportable Transactions included on Form 5472, but they are not generally taxable income. Failure to file the proper disclosure on time can result in significant penalties. All transactions between the parent owner and the LLC must be reported every year. A simple, annual disclosure is all that is needed to stay in compliance with the IRS.

Multi-Member LLC Partnership Returns

When there are multiple members of an LLC, a U.S. Partnership Tax Return Form 1065 will instead be required. Unlike a single-member LLC, which requires a disclosure, a multi-member LLC is a flow-through entity. Meaning the income and expenses flow through to each individual owner. A complex return, which includes separately stated items, must be filed annually to report all income and expenses.

Non-Resident Personal Tax Returns

When a Non-Resident Alien is required to report and pay tax on U.S. Source Income, claim a tax treaty exemption, or is otherwise required to file for any other purpose, Form 1040-NR is needed. Additioanlly, a return may be needed to disclose to the IRS that no U.S. source income exists, as a result of doing business in a Non-Resident home country or the receipt of a Form 1099 that is not subject to tax.

Need to File Your Taxes?

Offshore Filing is Complex! Rely on a professional who understands the international income tax system to pay only the tax required by law…

Given your tax situation, income, expenses, and other cash distributions, we can summarize the tax implications and filing compliance.

Book an appointment to schedule a call for a tax structure consultation. Also, feel free to message me before the call if we aren't already in touch.