# IRS 5471 as U.S. citizen with majority control of foreign company



## Karla75 (Feb 14, 2013)

Hi, 

This is my first time posting on expatforum, where I've found many helpful comments among in the forum (many thanks to those who've shared their experiences!). 

I have a tax-related question: I wonder if anyone has experience filing an IRS 5471 form (U.S. citizen with majority control of a foreign business, in this case in Mexico)? This is a very small business (ca. $1,600 USD income last year), but because of Mexican immigration and business laws regarding foreigners, I had to incorporate (S.A. de C.V.). 

Any suggestions would be much appreciated!

Thank you in advance!
K


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## JungleJim (Sep 29, 2012)

Hi Karla75,

Yes, I have to file a couple 5471's each year, plus schedule "O"; as I have companies holding assets or acting as the Trustee for a trust. What is your particular question? I'm no expert but I do have this obligation, and have some understanding... 

Cheers... ...Jim


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