# Form 5471 schedule C



## otusweb (Apr 6, 2016)

I'm going through the process of filing form 5471 and this is a pain

My question, i'm in France, i got my "Compte Annuel" from my french accountant. For schedule C, the category are pretty much the same in my french compte annuel than the schedule C, can i just copy those and then fill in the US dollar column, or is there more to that schedule C?

Thanks in advance, Olivier


----------



## Bevdeforges (Nov 16, 2007)

otusweb said:


> I'm going through the process of filing form 5471 and this is a pain
> 
> My question, i'm in France, i got my "Compte Annuel" from my french accountant. For schedule C, the category are pretty much the same in my french compte annuel than the schedule C, can i just copy those and then fill in the US dollar column, or is there more to that schedule C?
> 
> Thanks in advance, Olivier


Sounds like a reasonable approach - until and unless someone questions or asks for something different. Technically speaking, you're supposed to provide "US GAAP" financial statements - but the differences between US GAAP and how they keep accounts in France is very minor. Unless you've got some really weird financial instruments or investments in your company (the instructions mention "hyper-inflation" investments, which aren't common here in France unless you're in a bank or something) go with your French accounts, rearranged to suit the US forms and you should be good to go.
Cheers,
Bev


----------



## otusweb (Apr 6, 2016)

Bevdeforges said:


> Sounds like a reasonable approach - until and unless someone questions or asks for something different. Technically speaking, you're supposed to provide "US GAAP" financial statements - but the differences between US GAAP and how they keep accounts in France is very minor. Unless you've got some really weird financial instruments or investments in your company (the instructions mention "hyper-inflation" investments, which aren't common here in France unless you're in a bank or something) go with your French accounts, rearranged to suit the US forms and you should be good to go.
> Cheers,
> Bev


Thx, i'm a simple SARL, selling software development service, nothing fancy or complicated.


----------

