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Is the information of your US LLC shared with your country of residence?

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heaven

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Jun 1, 2020
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#1
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I know that you have to fill in these forms if you own a non-resident US LLC:
  1. Form 5472 + 1120
  2. FBAR
  3. 1040-NR
However is the information on these forms (UBO, Directors, Percentages,...) shared with your country of residence? In this case Belgium, who has a treaty with the US.

And if not, what information is? If any.
 
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#4
You have a ton of info on forum.
Search FATCA and LLC and you get alot..

In short for now USA is only sharing info on demand , not automatically. You should find someone working in tax authority in your country and ask for real life experience..
 
#5
Automatic reporting is done on financial accounts (bank accounts), not companies. Look into FATCA. US has historically been bad at reciprocating (they are better at receiving than at giving), but it can and does happen.

The US might respond to a request for information about a company, if a relevant agreement exists between US and the requesting country. Or if there is enough geopolitical prestige or interest.
 
#7
heaven said:
I know that you have to fill in these forms if you own a non-resident US LLC:
  1. Form 5472 + 1120
  2. FBAR
  3. 1040-NR
However is the information on these forms (UBO, Directors, Percentages,...) shared with your country of residence? In this case Belgium, who has a treaty with the US.

And if not, what information is? If any.
Click to expand...
Reporting requirements are different if the LLC is a pass-through entity, the assets held in the LLC are US-situs, and if there is income derived from the US. The IRS site has the details on reporting requirements.

The US does not share tax information unless they receive a request. As stated above the US does automatically share banking and financial data with other countries.
 
#8
waykooksaram said:
Reporting requirements are different if the LLC is a pass-through entity, the assets held in the LLC are US-situs, and if there is income derived from the US. The IRS site has the details on reporting requirements.

The US does not share tax information unless they receive a request. As stated above the US does automatically share banking and financial data with other countries.
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How can you say that? Do you know how the US treats all the 200+ countries? Tax information for the EU country was provided by the US, they showed me the printout and it was not financial but tax information about many people which was shared. Half knowledge is dangerous
 
#9
lacomaco said:
How can you say that? Do you know how the US treats all the 200+ countries? Tax information for the EU country was provided by the US, they showed me the printout and it was not financial but tax information about many people which was shared. Half knowledge is dangerous
Click to expand...
This is what has worked for me for a long time. I agree that is possible for the US to share tax information which is why I also use second citizenship. I will my experiences to myself for now on.
 
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#10
waykooksaram said:
This is what has worked for me for a long time. I agree that is possible for the US to share tax information which is why I also use second citizenship. I will my experiences to myself for now on.
Click to expand...
no need to cry or be offended just because some people are negative here. Feel free to share what you think can help those of us not to knowledge as others around.
 
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