3d • General discussion
5471s and cCorps
I'm a US citizen, MFJ.
When I have to file a 5471 for an offshore company I personally own (or co-own as a CFC), it goes with my 1040. I hate this because it mixes in the $25K deadline with my personal return. It also means I can't efile my 1040, and this is a real pain when my husband and I are on different continents when it's time to file our personal tax returns.
So here is the question:
If my C Corp owns a foreign corp instead of me owning it, does this get it disconnected from my personal return? Would the 5471 be filed with my 1120 instead?
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5471s and cCorps
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