F of the Form 990 has a list of trigger questions related to potential foreign
filing an exempt organization may need to file with the Form 990 or Form 990-T,
however, there are no clear instructions for when the filings will apply. Furthermore,
many of the US international tax provisions do not contemplate exempt
organizations and thus reviewing the foreign filing instructions can be
difficult to understand when a filing is needed. This session is meant to
help organizations and practitioners understand when US filings are required. In
addition, the session will cover the changes several of the foreign filings (e.g. Forms 5471 and 926) as a result of TCJA 2017, including useful tips for preparing a Form 5471 when there are no tax consequences to the organization.
Understand the US foreign requirements needed for exempt organizations operating, fundraising and investing abroad.
Understand the reporting requirements of Form 990, Schedule F and ensure the rest of the Form 990 is consistent with the Schedule F disclosures.