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Old 08-24-2011, 11:01 AM
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When to file Form 5471?

Hello,

I hope I am adding this thread under the right topic, I apologize if I am not.
I have a question related to Form 5471 filling and hope that the experts here will be able to help me.

We started a offshore dev center in India in 2006 with local initial capital investment. In 2009 the US company wired the investment to buy 70% stake in the India company. For various reasons, the India company reflected the investment to the RBI and Ministry of company affairs in 2011 and that's when the share certificate was provided to the US company.

The question:
When should the US company file the Form 5471? 2009 year end or 2011 year end?

Thanks in advance



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Old 08-24-2011, 04:21 PM
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“When should the US company file the Form 5471? 2009 year end or 2011 year end?”--->US citizens or US residents Under either US Tax Law or US INS Rules(for tax purposes, I mean), as officers, directors, or shareholders in certain foreign corporations, use Form 5471.I guess the US company needs to file the Form 5471 for 2009 as category 2 filer; a U.S. citizen or resident who is an officer or director of a foreign corporation in which the U.S. person has acquired Stock which meets the 10% stock ownership requirement with respect to the foreign corporation or a U.S. person has acquired stock in a foreign corporation when that person has an unqualified right to receive the stock even though the stock is not actually issued.The stock ownership threshold is met if a U.S. person owns 10% or more of the total value of the foreign corporation’s stock or 10% or more of the total combined voting power of all classes of stock with voting rights. US person means citizen or resident of the United States, a domestic partnership, a domestic corporation, and an estate or trust that is not a foreign estate or trust.



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