Instructions for IRS Form 8858 Information Return of U.S. Persons With Respect to Foreign Disregarded Entities (Fdes) and Foreign Branches (Fbs)

IRS Form 8858 Schedule M Transactions Between Foreign Disregarded Entity (Fde) or Foreign Branch (Fb) and the Filer or Other Related Entities

This document contains official instructions for IRS Form 8858 , Information Return of U.S. Persons With Respect to Foreign Disregarded Entities (Fdes) and Foreign Branches (Fbs) - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 8858 Schedule M is available for download through this link.

FAQ

Q: What is IRS Form 8858?
A: IRS Form 8858 is an information return used by U.S. persons with respect to their foreign disregarded entities (FDEs) and foreign branches (FBs).

Q: Who needs to file IRS Form 8858?
A: U.S. persons who have ownership or control of a foreign disregarded entity (FDE) or foreign branch (FB) need to file IRS Form 8858.

Q: What information is required on IRS Form 8858?
A: IRS Form 8858 requires information about the foreign disregarded entity (FDE) or foreign branch (FB), including ownership details, financial information, and transactions.

Q: When is the deadline to file IRS Form 8858?
A: The deadline to file IRS Form 8858 is usually the same as the deadline for the taxpayer's income tax return (typically April 15th).

Q: Are there any penalties for not filing IRS Form 8858?
A: Yes, there can be penalties for not filing IRS Form 8858, including monetary fines and potential criminal charges.

Q: Can IRS Form 8858 be filed electronically?
A: Yes, IRS Form 8858 can be filed electronically using tax software or through the IRS's e-file system.

Q: Is IRS Form 8858 also required for foreign corporations?
A: No, IRS Form 8858 is specifically for U.S. persons with foreign disregarded entities (FDEs) or foreign branches (FBs). Foreign corporations have different reporting requirements.