Glossary · Reporting
Form 8858
Form 8858 reports foreign disregarded entities and foreign branches to the IRS. Americans in the UK most often meet it when a single-member UK company is treated as disregarded for US tax, or when they run an unincorporated UK business.
Information Return for Foreign Disregarded Entities
In more detail
Form 8858 is an information return for US persons who own a foreign disregarded entity or operate a foreign branch. A common UK example is a single-member limited company for which a check-the-box election has been made, or a self-employed trade carried on abroad. It reports the income and balance sheet of the entity in US dollars and is filed alongside the Form 1040 of the owner. It frequently travels with Form 5471 or a check-the-box election, and missing it carries information-return penalties even when no tax is due.
Does Form 8858 apply to your situation?
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