Return of US Persons With Respect to Certain Foreign Partnerships
In more detail
Form 8865 is the partnership counterpart to Form 5471. A US person who controls a foreign partnership, or holds a 10%-or-greater interest in a US-controlled one, generally files it — reporting the income of the partnership, the share of each partner, and certain contributions or transfers. UK LLPs and other jointly-run structures are frequent triggers. Penalties are assessed on the information failure itself, independent of whether any US tax is owed.
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Does Form 8865 apply to your situation?
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