Outbound International Tax

TAX COMPLIANCE FOR U.S. BUSINESSES AND OWNERS ABROAD

For U.S. companies and individuals who own foreign corporations, partnerships, or branches.

Owning part of a business outside the United States brings some of the most complex forms in the tax code. Income earned by a foreign company can be taxable to its U.S. owners before it’s ever distributed, and missing forms carry penalties per form, per year. At Victoria Bogdanovich CPA, we prepare these forms together with the owner’s U.S. returns.

Who this is for

• U.S. individuals who own 10% or more of a foreign company
• Officers or directors of a foreign corporation with U.S. owners
• U.S. companies with foreign subsidiaries, partnerships, or branches
• Entrepreneurs who formed a company in their home country before moving to the U.S.

What we handle

• Form 5471 — U.S. owners, officers, and directors of foreign corporations
• Form 8865 — interests in foreign partnerships
• Form 8858 — foreign disregarded entities and branches
• Income inclusions — Subpart F and the rules that tax a foreign company’s income to its U.S. owners
• Foreign tax credits — including credits for taxes paid by the foreign company
• Section 962 and other elections that can lower the tax for individual owners

Why it matters

Penalties start at $10,000 per form, per year for a missing Form 5471, 8865, or 8858.

Your return may stay open. When certain international forms aren’t filed, the IRS’s time limit to examine your whole return may not start.

Foreign financial statements need conversion. We translate foreign-currency, foreign-GAAP statements into what the U.S. forms require.

How it works

1. Check your fit — about 1 minute. Answer a few questions and see your starting fee.
2. Create your client portal account and complete our Client Application.
3. Meet with us — free Tax Discovery Zoom meeting. Upload your last two years of returns at least 24 hours before the meeting so we can discuss an estimated fee range on the call.
4. Receive your engagement package with your estimated fee and scope of work. Work begins once you sign.

Starting price

International returns with Form 5471, 8865, or 8858 start at $3,500. The final fee depends on the foreign company’s ownership and financial statements. Your engagement package sets out your estimated fee and what it covers. Work outside that scope is billed separately.

See your starting fee

Frequently asked questions

I own a small company in my home country. Do I really need Form 5471?
If you’re a U.S. person and own or control enough of it, usually yes — even if it’s small and pays no dividends.

What do you need from the foreign company?
Its annual financial statements, ownership details, and records of transactions with owners. We’ll send a checklist.

I’ve never filed these forms. What should I do?
There are procedures that may reduce penalties for late international forms. Start with a paid Initial Consultation.

See also Foreign Assets & International Tax Reporting.

Ready to see where you fit? Take the 1-minute fit check or see our pricing and how it works.