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The are multiple areas on the Form 990 which highlight foreign activities for an organization, including trigger questions for potential additional international filings, including Forms 926 and 8865 (for foreign transfers), Form 5471 (foreign corporations), 5713 (International Boycott report), 8858 (foreign branch and disregarded entities), and foreign bank account (FBAR) filings. This session will walk participants through the ins and outs of the foreign compliance of Schedule F, including other sections of the Form 990, to consider for foreign activities. In addition, this session helps organizations and practitioners understand when US filings required and common compliance disclosures. This course will focus on foreign operations, grantmaking, employees/agents and discuss at a high-level other international issues organizations commonly face.
Learning Objectives:
Identify considerations for not-for-profits contemplating international expansion
Recognize US tax compliance requirements associated with foreign activities or investments
Identify the reporting threshold in Part I related to aggregate expenses or revenues with respect to Schedule F of Form 990