U.S. persons who invest in foreign activities often have U.S. reporting obligations. A common international reporting requirement for many U.S. persons is IRS Form 5471, Information Return of U.S.

Federal tax law requires U.S. persons to report their receipt of foreign gifts or inheritances. IRS Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign ...

Forbes contributors publish independent expert analyses and insights. Matthew Roberts is a tax attorney who covers tax litigation and fraud. Corrected, July 18, 2024: This article has been updated to ...