Form 5472: All you need to know 1 Credit
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International tax compliance is a critical piece in managing global business and should not be overlooked. A key form for foreign-owned U.S. corporations is Form 5472.
Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business, is one of the most complicated forms of all U.S. filing requirements concerning foreign persons. Initially, the reporting obligations applied to corporations only; now the requirements extend to DREs active in the U.S. and owned by non-U.S. individuals and corporations.
The IRS requires the use of form 5472 to provide the information required under sections 6038A and 6038C when reportable transactions occur between a reporting corporation and a foreign or domestic related party.
This CE/CPE course will provide an overview of 5472 and practical steps for completing the form. We will cover the objective of form 5472, who is required to file it, important deadlines, and potential consequences of not filing this form or filing it incorrectly.
This CE Tax webinar will cover the following topics:
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
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Ramona Cedeno is a CPA, CFP, and CGMA with over 20 years of experience as an accounting and finance professional. She has a track record of successfully devising and deploying innovative strategies that enhance operational and financial performance. She is the founder and CEO of FiBrick, an accounting and fractional CFO services firm based in NYC. She is also the host of the podcast In Great Company and the author of Simple Choices Big Rewards in Money.
Through the many services and workshops her firm provides, Ramona enjoys and takes pride in her innate ability to bring people together to build community and empower business owners to build scalable businesses. Before starting FiBrick, she was the CFO of Handy, and an accounting leader at Time Inc. and other Fortune 500 companies, tech startups, and small businesses. As a tech-forward innovator in the finance industry, she has guided over a dozen technology startups through mergers and acquisitions, funding rounds, and exits.
Ramona is a proud mentor of the Women Entrepreneurs of NYC (WENYC), a board member of the New York State Society of CPAs, and an advisory board member for New York State’s Small Business Development Center (SBDC). Ramona was named a Notable Woman in Accounting and Consulting by Crain’s and a recipient of the 2022 Empire Whole Health Heroes Award. She has been featured on Bloomberg and PIX 11 News and has spoken at several esteemed conferences including the AICPA ENGAGE and NABA’s Entrepreneurship Summit. Ramona earned a Bachelor’s in Accounting from Baruch College, a Master’s in Finance from Fairleigh Dickinson University, and a Certificate in Financial Planning from Boston University.
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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
PP
The basic understanding regarding form 5472 is at it's best in this session. one fresher can easily understand the requirements and definition of the related parties holding more or equal to 25%.
PA
This course did exactly what I was hoping it would. The presenter was knowledgeable about the topic and did a good job of teaching.
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