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How do Form 5471 and Form 5472 differ?

US tax filing

Form 5471 is filed by US persons who own a foreign corporation. Form 5472 is filed by US corporations that are foreign-owned, reporting transactions with their foreign related parties.

One looks outward at a foreign subsidiary, the other looks inward at foreign ownership. Many India-US structures file both.

Inkle Tax prepares and files US federal and state returns for your company.

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