Requirements For Reporting Ownership Of Foreign Real Estate

“Thank you, Kathleen. You give us such valuable insight and knowledge of places, like nothing we can get anywhere else.”

–Maureen N., United States


“Kathleen, you stated: ‘An American is not required to report foreign property holdings to the IRS (as long as the property is held in your own name), not even on the new IRS Form 8938.’

“Is a foreign property reportable to the IRS if it is owned by a corporation?”

–Jan D., United States

Yes, as the corporation would be reportable one way or another, if not through a Form 5471 then on the new Form 8938. If on Form 5471, then the real estate would be listed as an asset of the corporation on the financial statement section of the form. If on the 8938, though, the assets of the corporation wouldn’t necessarily have to be detailed. That is, you could simply state the asset as a corporation.

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