Form 5471 Category Finder

Question 1

Are you a US person?

A US person includes a US citizen, US resident alien, domestic corporation, domestic partnership, or domestic trust/estate.

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No Filing Requirement

Form 5471 is only required for US persons. Based on your answer, you do not have a Form 5471 filing requirement.

Question 2

Do you have any ownership interest in a foreign corporation?

This includes direct, indirect, or constructive ownership of stock in a foreign corporation.

Question 3

Are you an officer or director of a foreign corporation?

This applies even if you have no ownership interest in the corporation.

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No Filing Requirement Indicated

Based on your answers, Form 5471 does not appear to be required. You have no ownership interest and are not an officer or director of a foreign corporation.

Question 3b

Does any US person own 10% or more of the foreign corporation's stock?

By vote or value. This includes any US shareholder, not just you.

Question 3c

During the tax year, did a US person acquire stock that reached the 10% threshold, or acquire an additional 10% or more?

Category 2 is triggered by an acquisition during the period, not by simply continuing to hold stock. It applies when a US person acquires stock that reaches the 10% threshold, or acquires an additional 10% or more.

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No Filing Requirement Indicated

No Form 5471 required based on these facts. Category 2 only applies when a US person owns 10% or more of the foreign corporation.

Question 4

What is your ownership percentage of the foreign corporation?

Include direct, indirect, and constructive ownership combined (by vote or value).

Less than 10% 10% to 50% More than 50%

Question 5

Did you acquire stock during the tax year that brought you to 10% or more ownership?

This includes any acquisition (purchase, gift, inheritance, etc.) that caused you to meet or exceed the 10% threshold.

Question 5b

Were you already at 10% or more, and acquired an additional 10% or more during the tax year?

This is a separate Category 3 trigger from first reaching 10%. Someone already above the threshold who buys another 10% or more still has a filing obligation.

Question 6

Did you dispose of stock during the tax year that brought you below 10% ownership?

This includes any disposition (sale, transfer, etc.) that reduced your ownership below the 10% threshold.

Question 7

Do you own more than 50% of the foreign corporation?

By vote or value, directly or indirectly. This determines whether you have control of the corporation.

Question 8

Is the foreign corporation a Controlled Foreign Corporation (CFC)?

A CFC is a foreign corporation in which US shareholders (each owning ≥10% by vote or value) collectively own more than 50% by vote or value.

Question 9

Is the foreign corporation a Specified Foreign Corporation (SFC)?

An SFC is either (a) a CFC, or (b) a foreign corporation that has at least one domestic corporate shareholder owning 10% or more.

Question 10

Are you an officer or director of this foreign corporation?

If yes, and any US person owns 10% or more, Category 2 may apply.

Question 10b

Does any US person own 10% or more of this foreign corporation's stock?

By vote or value. This includes any US shareholder, not just you.

Question 10c

During the tax year, did that US person acquire stock that reached the 10% threshold, or acquire an additional 10% or more?

Category 2 is triggered by an acquisition during the period, not by simply continuing to hold stock. It applies when a US person acquires stock that reaches the 10% threshold, or acquires an additional 10% or more.