Form 5472 for Foreign Investors

Summary:

While the U.S. market proves to be fertile ground for foreign investors and companies, there are some complicated issues that must be addressed in order to avoid fines and penalties such as the completion of Form 5472. Companies that are at least 25% owned by non-US shareholders must disclose this information to the IRS via this form which can be a bit confusing.

In a live webcast prepared by The Knowledge Group, a panel of international tax experts will break down the complexities of Form 5472 focusing on these and other key topics:

- Who’s required to file this
- What needs to be disclosed
- Filers' duties and responsibilities
- Filing due date and where to file
- How to prepare the form & fix mistakes
- Penalties & exceptions

This program was specifically tailored to the needs and demands of accounting and corporate professionals who are responsible for filing. Invest your time at this webcast by learning about how to properly prepare and file Form 5472. Click the “Register” button below to enroll in this course. Hurry as space is limited and significant discounts apply to early registrants.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 2.0
Important Note: Your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date or you will not be able to obtain CLE credit.
Advance Preparation: Print and review course materials
Course Code: 104024

SEGMENT 1:
David B. Joranko, National Director, International Tax Compliance & Quantitative Consulting Services,
Ernst & Young LLP

- Overview and purpose of Form 5472
- Who is required to file
- When and where to file
- Penalties for non-compliance

SEGMENT 2:
Charles K. Kolstad, Esq., Of Counsel,
Venable LLP

- Have you filed the Form 5472 for ALL foreign related parties? - Have you filed the Form 5472 for ALL US subsidiaries and affiliates?
- Do your accounting records identify ALL cross border related party payments?
- Did you get the appropriate withholding tax certificates (Forms W-8BEN etc) from all foreign payees PRIOR to payment?
- Did the foreign related party report the income in its home jurisdiction. REmember the US has exchange of information provisions in its treaties!

SEGMENT 3:
Kevin Johnson, Shareholder,
Chamberlain, Hrdlicka, White, Williams & Martin

Why is the 5472 required?
How does the IRS use the 5472 in developing information about the company and its related parties?
How does the IRS identify potential audit isssues from the 5472, and what information on the 5472 might be red flags for the IRS.

SEGMENT 4:
Susan J. Conklin, International Tax Director, Washington National Tax Services,
PricewaterhouseCoopers

- CCA 200429007 - Circumstances under which Form 5472 may be "substantially incomplete" for penalty assessment purposes
- Need to reconcile Forms 5472 & 1042-S and conflicts
- Recent penalty assessment/abatement experience

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Who Should Attend?

Accountants
Tax Managers
CPAs
Presidents
Vice Presidents
CFOs
Controllers
Accounts Payable Professionals
Enrolled Agents
CEOs
Finance Directors
Attorneys

Why Attend?

This is a must attend event to fully understand the important issues surrounding Form 5472.
- Detailed guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Form 5472 for Foreign Investors
LIVE Webcast

Tuesday, October 19, 2010

3:00pm to 5:00pm (ET)