8865 or 5471

[bungee9]

Hi all

My client established Mexican LLC (S DE RL DE CV) in Mexico in 2021. Do I need to report this entity as a partnership and report it on Form 8865? Or should I report it on Form 5471? If any expert has experience with Mexican LLC tax returns, please reply.

[ILLMAS]

Is the foreign entity related to the US entity?

[bungee9]

1 hour ago, ILLMAS said:

Is the foreign entity related to the US entity?

thank you for your reply. This entity is not related to the US entity.

While searching the web, I found out that I have to  report this Mexican LLC (S DE RL DE CV) on the form 5471. 

Please let me know if I am missing something.

Here is the website that I found out right before. https://www.irsstreamlinedprocedures.com/fbar-vs-8938-irs-forms/#:~:text=Even though the FinCEN Form,year%2C for the same accounts.

 

[joanmcq]

Are you sure you file a 5471?

if you aren’t familiar with international taxes, I would refer this one out. International gets complicated very fast.