U.S. tax preparation for foreign-owned businesses and foreign corporations

Foreign-owned U.S. disregarded entities: Form 5472 and pro forma Form 1120

This engagement covers the accepted entity's ownership and reportable-transaction review and preparation of Form 5472 with the associated pro forma Form 1120. The scope identifies the entity, related parties, tax year, supporting records and filings included. Bookkeeping reconstruction and additional reporting are not automatically included.

Foreign corporations: original Form 1120-F returns

We prepare original Form 1120-F returns for accepted foreign-corporation engagements. The review identifies the corporation's U.S. activities, income, withholding and financial records, together with the schedules and disclosures needed for the accepted return. Filing requirements depend on the facts; foreign ownership alone does not establish a Form 1120-F obligation.

Foreign corporations: protective Form 1120-F returns

Protective Form 1120-F preparation is a distinct, fact-dependent engagement. It can be relevant when a foreign corporation concludes that its limited U.S. activities do not produce effectively connected income, but that conclusion could later be challenged. We assess whether the protective approach fits the facts and identify the required return information and supporting records. A protective filing is not an automatic substitute for reporting taxable income and does not guarantee deductions, credits or penalty protection.

Entity classification and scope matter

Ordinary domestic C-corporation return preparation remains a separate service. A U.S. corporation does not become a foreign corporation simply because its owners are foreign. This offer does not add Form 5472 preparation for foreign-owned domestic corporations.

Foreign-country returns, transfer-pricing studies, treaty opinions, legal services, valuation and historical remediation are outside this offer. State filings and additional jurisdictions are not automatically included. If the required work extends beyond the accepted scope, that must be resolved before preparation proceeds.

Records, responsibilities and next steps

Start with the entity's country of formation, U.S. tax classification if known, ownership, U.S. activities, tax year and any known deadline. The written engagement identifies the preparation work, signing and submission responsibilities, deadlines and records required. An inquiry does not establish an engagement or transfer a filing responsibility.

Keep tax identifiers, passports, bank records and other sensitive documents out of the inquiry message. Accepted document review uses the firm's existing secure process.