mircpa Posted July 2, 2019 Report Posted July 2, 2019 I have a client who wants to float new medical research business with Singapore based foreign corporation as one of the shareholder. I know i have to file 8832 along with W7 for this foreign entity. Does anyone has experience what documents are required to be submitted. I believe I might have to submit foreign equivalent certificate of good standing from home country. Can someone who has experience in doing this in past share their ideas. Thanks Quote
Abby Normal Posted July 2, 2019 Report Posted July 2, 2019 I have one LLC taxed as a C corp that's 100% owned by a foreign corporation. On the 8832 we entered "none" for ID number of owner. On the 1120 we leave the ID# blank on the Sch G and have never had a problem. Quote
mircpa Posted July 2, 2019 Author Report Posted July 2, 2019 You mean you were able to efile corporate tax return without shareholder company federal tax ID Quote
Abby Normal Posted July 2, 2019 Report Posted July 2, 2019 17 minutes ago, mircpa said: You mean you were able to efile corporate tax return without shareholder company federal tax ID Correct. Quote
Max W Posted July 3, 2019 Report Posted July 3, 2019 Form 5472 also has to be filed with the return. This reports ownership(s) 0f 25%, or greater. Failure to file is subject to $10,000 penalty. https://www.irs.gov/pub/irs-pdf/i5472.pdf Quote
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