Form detail
IRS Form 5471
Information Return of U.S. Persons With Respect To Certain Foreign Corporations
Country
United States
Revision year
2024
Methods
paper, efile
Updated
2026-05-20
Information Return of U.S. Persons With Respect To Certain Foreign Corporations
Annual information return for U.S. persons who are officers, directors, or shareholders of certain foreign corporations.
Who must file: U.S. persons meeting one of five categories of filer (Categories 1-5) with respect to a foreign corporation, including CFC shareholders.
Practical overview
Form 5471 is one of the most complex U.S. international forms because filing requirements vary by category and required schedules can range from minimal (Category 1) to extensive (Category 5 CFC shareholders). GILTI and Subpart F calculations require schedules I-1 and J. The $10,000-per-year penalty applies to each missing form and each separate failure.
Practical steps
- Determine which category (1 through 5) the U.S. person falls into for each foreign corporation.
- Identify required schedules per category and tax year.
- Compute Subpart F income, GILTI, and earnings and profits as required.
- Attach Form 5471 to the U.S. person's annual return.
- Coordinate with related Forms 8938 and FBAR obligations.
Due-date notes
Attached to the U.S. person's annual income tax return.
Timing: return-due-date
Extension reference: Form 7004 or Form 4868
Penalty snapshot
$10,000 per Form 5471 per year for failure to file, with continued-failure penalties up to $50,000 per form; foreign-tax-credit reduction may also apply.
Related citations
Computed from the cross-reference graph. Links open the related entity on this site.
Primary sources
- About Form 5471Verified 2026-05-20
- Instructions for Form 5471Verified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.