Form 5471 rev december 2018 department of the treasury internal revenue service information return of us persons with respect to certain foreign corporations. Instructions for form 5471rev december 2018 use with the december 2018 revision of form 5471 and separate schedules e h i 1 j m and p and the december 2012 revision of schedule o information return of us persons with respect to certain foreign corporations department of the treasury internal revenue service. Us citizens and residents have to file form 5471 if they are shareholders in a foreign corporation in addition many categories of income would be categorized as a subpart f income and taxed currently the tax cuts and jobs act has expanded that with the gilti category as a result it increased the numbers of the forms 5471 americans need to submit. Form 5471 is an informational return submitted to the irs as an attachment to form 1040 the results of calculations performed on form 5471 correspond with specific lines on form 1040 moreover because of the difference in the foreign corporation accounting period and the us accounting period in some cases numbers from form 5471 will need
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