Yes. When you purchase a Foreign Corporate Form (available only with the Premium Plan), Form 5471 is included along with its required schedules and related forms:
Here's an overview of what we'll cover—click any section to jump ahead
- What is Form 5471?
- Support for Form 5471 Schedules and GILTI Reporting
- Who Needs to File Form 5471?
- Who Must File Form 8992?
- Who is Affected By the GILTI Tax?
- Additional Resources
What is Form 5471?
Form 5471 is used by certain US persons who are officers, directors, or shareholders in certain foreign corporations. The form and schedules are used to satisfy the reporting requirements of sections 6038 and 6046, and the related regulations.
Support for Form 5471 Schedules and GILTI Reporting
Our Premium Plan includes preparation of Form 5471 along with the related schedules and GILTI reporting forms listed below.
- Form 5471 Schedules: A through R (see full list on the IRS instructions)
- GILTI Tax Reporting & Optimization: Form 8992, Form 8992 Schedule A, Form 8993, and Form 926
Not every schedule is required for each filer — our Tax Professionals will prepare only the forms and schedules that apply to your situation.
Who Needs to File Form 5471?
Certain US taxpayers with interests in foreign corporations are required to file Form 5471. You can find more information on the IRS website
Yes, all included in the Foreign Corporate Surcharge (5471 + all related schedules and forms)
Some exceptions include, but are not limited to:
- Multiple filers of the same information
- Shareholders of foreign insurance companies that have elected to be treated as domestic corporations, and certain constructive owners.
Who Must File Form 8992?
Any US shareholder (including a partner in a domestic partnership) who:
- Owned stock in a foreign corporation (within the meaning of section 958(a)) on the last day of the corporation’s tax year when it was classified as a CFC, and
- Was a US shareholder of that foreign corporation at any time during its tax year that ended within the shareholder’s own US tax year.
For full details, see IRS Instructions for Form 8992
Who is Affected By the GILTI Tax?
The GILTI rules apply to US citizens (including Accidental Americans) and to corporations that directly or indirectly own at least 10% of the voting power of any class of stock in a controlled foreign corporation (CFC). A CFC is generally a foreign corporation in which US persons own more than 50% of the total voting power or value.
These shareholders must pay annual tax on their share of the CFC’s net income from intangible assets, even if that income has not yet been distributed. Importantly, GILTI tax applies to this undistributed income only once — it will not be taxed again when later distributed to the shareholder.
US shareholders of a CFC must report their share of GILTI income on their annual US tax return.
Additional Resources
Understanding the GILTI Tax: What US Expats Need to Know in 2025
A Guide for Expats: How to File Form 5471
RECOMMENDED TOPICS
