Santa Ana California Form 5471 (Schedule J) 2020-2025

Santa Ana California Form 5471 (Schedule J): What You Should Know

Nov 7, 2021. — Form 990-T, line 38, includes in paragraph (d) an item for each foreign entity that maintains a physical presence in the United States (and that is not a U.S. person). It includes an item for each subsidiary and a summary of the results of its operations (that is, income and net profits) for each year it has an active presence in the United States. These results are the same for each U.S. taxpayer that maintains more than one foreign entity (a “controlled foreign corporation”). SANTA CRUZ, CA 95060. In the following example, the Form 5471 column is for each foreign entity. It contains the name and tax identification number (TIN) of each foreign entity controlled by an entity with a TIN listed. See Form 5471, column 1, and line 12. Mar 28, 2025 — Form 990-T, line 40, includes in paragraph (e) an item for each controlled foreign corporation (CFC) in which a domestic entity has an ownership interest (other than a partnership or S corporation). Taxation Ruling 91-102, Notice 2008-42, November 17, 2008, provides information about whether and how to file the Schedule J of Form 5471 for each controlled foreign corporation. This Ruling also describes the requirements for maintaining each required Form 5471 Schedule J. If a domestic entity has an ownership interest (other than a partnership or S corporation) in an S corporation that maintains a physical presence in the United States, then a domestic entity need not file a Schedule J if its ownership interest is sufficient to prevent the foreign corporation from being a U.S. person. SANTA CRUZ, CA 95060. For more information on the filing of Forms 990-T and Schedule 740, see the Instructions for Forms 990-T and 740, and the Ruling Explanatory Notes to Rev. Run. 86–23, 1991-2 C.B. 381 (June 21, 1991). Apr 26, 2024. — Form 990-T, line 40, includes in paragraph (f) an item for each controlled foreign corporation (CFC) in which a domestic entity maintains a physical presence in the United States (and that is not a U.S. person). Taxation Ruling 91-102, Notice 2008-42, November 17, 2008, provides information about the requirements for maintaining each required Form 5471 Schedule J.

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