Stay up-to-date on international information filings to be in the best position to understand their obligations.
Since 2017, the international tax landscape has become significantly more complex and the compliance and reporting requirements for companies and individuals have become equally complex. The U.S. Treasury Department and Internal Revenue Service have continued to rework and rerelease international informational filings on an annual basis. These forms and their updates are designed to address ever-evolving rules and regulations and taxpayers can find themselves struggling to keep up. With this in mind, it is of the utmost importance for companies and their leaders to stay up-to-date on international information filings to be in the best position to understand their obligations.
It is our goal to help participants understand what forms and information they need to file for themselves, their employers, and/or their clients. This course will focus on both foundational principles that we as tax advisors see misunderstood every day, as well as some of the more complex and nuanced parts of the forms that can be confusing and overwhelming if you aren’t required to do them on a daily basis.
Learning Objectives
- You will be able to identify which investments in foreign companies trigger a filing requirement.
- You will be able to explain how direct, indirect, and constructive ownership impacts what forms need to be filed.
- You will be able to determine whether a foreign corporation or individual is required to file a U.S. federal income tax return and safeguards when it is not clear.
- You will be able to recognize where and how international provisions show up on the domestic federal income tax return.
Agenda
Introduction and Overview of U.S. Federal International Informational Forms
- Introduction and Agenda
- General Structure of International Filings
Reporting for Investments in Foreign Entities
- Which Foreign Investments Are Relevant and Which Forms Do You Need to File?
- Foreign Corporations: Forms 5471 and 8621
- Foreign Partnerships: Form 8865
- Foreign Branches and Disregarded Entities: Form 8858
Reporting for Transactions: Forms and Statements
- Payments for Foreign Parties: Forms 5472, the 1042 Series, and Withholding Certificates
- Outbound Contributions: Forms 926 and Associated Statements
- Inbound Liquidations: 332 Statement and 367(B) Notices
Foreign Corporations Doing Business in the U.S.
- Engaged in a U.S. Trade or Business: Form 1120-F
- Protective and Treaty-Based Returns: Form 8833
- Withholding Agent Responsibilities: Forms 8804 and 8805
Other Forms and Considerations
- TCJA: GILTI, BEAT, FDII, and 163(J) (the 8990 Series)
- Connecting the Form 1120 Schedules C and M-3 to International Inclusions
Q and A
Speakers
Anjali Singh,
BDO- Senior Manager in International Tax Services at BDO USA, P.C.
- Brings over 14 years of public accounting experience, specializing in international tax compliance and consulting.
- Serves multinational clients in consumer products, manufacturing, healthcare, and start-ups, with expertise in foreign entity restructuring, Subpart F, GILTI calculations, foreign tax credits, international IP migration, and tax-reform-related planning.
- Former instructor for training programs at two Big Four firms and adjunct faculty at Maryville University for tax and business courses.
- Presenter at various tax conferences for the St. Louis International Tax Group, a local nonprofit organization.
- CPA licensed in the state of Missouri and a member of the AICPA.
- Holds a B.A. in French Language and Literature from the University of Iowa and an M.S. in Accounting from Saint Louis University.
Dave Slade,
BDO- Senior Manager in International Tax Services at BDO USA, P.C.
- Specializes in the cross-border aspects of U.S. federal income tax, with a decade of experience in tax consulting and compliance, focusing on cross-border restructuring and M&A transactions.
- Works with diverse clients, including multinational corporations, asset management and private equity funds, and high-net-worth individuals across industries like manufacturing, retail, technology, asset management, real estate, and pharmaceutical.
- Regular instructor at BDO, leading bi-monthly tax technical training sessions for emerging leaders in the international tax practice.
- Presenter at conferences, including CPE conferences hosted by BDO and the Detroit Chinese Business Association.
- Prior experience includes teaching advanced courses in Organizational Behavior Management at Western Michigan University.
- Holds a J.D. from Boston University School of Law and a B.S. from Western Michigan University.
- Member of the State Bar of California and the American Bar Association.
Who Should Attend
This live webinar is designed for accountants, tax managers, accounts payable professionals, bookkeepers, CFOs, controllers, enrolled agents, business managers and owners, presidents, vice presidents, CEOs, operations managers, and attorneys.
