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Statement of Substantial Interest Form

Statement of Substantial Interest Form

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This is Parag Patel. Today, we are discussing form 5471 and substantial completion as required by the IRS. The IRS recently put out an international practice unit indicating what is the minimum information required in order to file a form 54 71. So today I'm discussing what those items are. So form 5471 is a long form. Today I'm just showing you that the most important part on page one; you have to obviously fill out the name of the person and the identify the-usually it's going to be the EIN number or their social security number of the person that's filing the form. Item B is one of the parts that the IRS has indicated that's required to be, completed. Meaning that if you don't complete item B, if you leave it blank, it's not considered filed. So you must file, you must complete, Item B, which is a category of the filer. In this case, we have categories one through five. You have to pick one, to discuss another discussion. It's a complicated decision that needs to be carefully analyz

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