nevada llc corporation


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Tax/FATCA Reporting for U.S. Persons with Offshore Trusts / Companies / Assets / Financial Accounts  
Implementing "Bullet Proof" Asset Protection requires forming an International Asset Protection Trust and usually also requires adding a Nevis Offshore LLC. We have packaged these services to make it easy to form these entities, but there is a price: The I.R.S. has developed very complicated reporting of these offshore structures as well as offshore accounts and assets. The law provides for severe penalties for non-reporting and/or non-payment of the due tax on your offshore income or offshore income attributable to you directly or indirectly.

Offshore tax reporting has gotten complicated, but with the right help, it is really no more complicated than preparing a complex tax return for a U.S. corporation! The problem is that there are many corporate service providers, both offshore and onshore, that "hard sell" offshore entities to a client without any disclosure whatsoever of these reporting requirements.

We feel that the marketing of offshore entities to U.S. Persons without full disclosures of their tax reporting requirements is grossly unethical. In fact a simple disclosure is just not enough for us:  Not only will we advise and inform you of these I.R.S. Reporting Requirements prior to processing your order, but once you become a client, we will provide you with "cliff notes" to provide to your accountant and issue reminder notices in advance of the filing deadlines of the various forms.

Controlled Foreign Corporation - I.R.S. Compliance Simplified  
Foreign Controlled Corporation Reporting Requirements for U.S. persons are not to be taken lightly. This is a minefield and should not be attempted without a Professional International Tax Specialist. The penalty for failure to file is $10,000 for each annual accounting period of each foreign corporation limited to a maximum of $50,000 for each failure.

In order to stay fully compliant with current I.R.S. requirements you will need to work with your accountant or C.P.A. to file the following forms, along with your 1040 on an annual basis:
  • Annual filing of form 926 (detail) - Transfer of Property to a Foreign Corporation
  • Annual filing of form 5471 (detail) - Annual Info Return of Foreign Controlled Corporation
  • Annual filing of form 8938 (detail) - Statement of Specified Foreign Financial Assets
  • Annual filing of form FBAR/FinCEN Form 114 (detail) - Foreign Financial Accounts

Offshore tax reporting has gotten complicated, but with the right help, it is really no more complicated than preparing a complex tax return for a U.S. corporation! The problem is that there are many corporate service providers, both offshore and onshore, that "hard sell" offshore entities to a client without any disclosure whatsoever of these reporting requirements.

We feel that the marketing of offshore entities to U.S. Persons without full disclosures of their tax reporting requirements is grossly unethical. In fact a simple disclosure is just not enough for us:  Not only will we advise and inform you of these I.R.S. Reporting Requirements prior to processing your order, but once you become a client, we will provide you with "cliff notes" to provide to your accountant and issue reminder notices in advance of the filing deadlines of the various forms.

Offshore Trust - I.R.S. Compliance Simplified  
Offshore Trust Reporting Requirements for U.S. persons are not to be taken lightly. This is a minefield and should not be attempted without a Professional International Tax Specialist. The penalty for failure to file is equal to the greater of $10,000 or 35% of the gross value of any property transferred during the year.

In order to stay fully compliant with current I.R.S. requirements you will need to work with your accountant or C.P.A. to file the following forms, along with your 1040 on an annual basis:
  • Annual filing of form 3520 (detail) - Transactions with Foreign Trusts
  • Annual filing of form 3520a (detail) - Annual Info Return of Foreign Trust

Offshore tax reporting has gotten complicated, but with the right help, it is really no more complicated than preparing a complex tax return for a U.S. corporation! The problem is that there are many corporate service providers, both offshore and onshore, that "hard sell" offshore entities to a client without any disclosure whatsoever of these reporting requirements.

We feel that the marketing of offshore entities to U.S. Persons without full disclosures of their tax reporting requirements is grossly unethical. In fact a simple disclosure is just not enough for us:  Not only will we advise and inform you of these I.R.S. Reporting Requirements prior to processing your order, but once you become a client, we will provide you with "cliff notes" to provide to your accountant and issue reminder notices in advance of the filing deadlines of the various forms.

 
Offshore "Disregarded Entity" Filing - I.R.S. Compliance Simplified  

Offshore Company Reporting Requirements for U.S. persons are not to be taken lightly and should not be attempted without a Professional International Tax Specialist. The penalty for failure to timely file form 8858 is $10,000 and an additional $10,000 penalty may be charged every 30-day period, to a maximum of $50,000.

A "Foreign Disregarded Entity" filing simplifies things immensly though. This service includes obtaining an I.R.S. Tax I.D (EIN). for the St. Lucia (offshore) IBC as well as electing "Foreign Disregarded Entity (FDE)" Status, so it is ideal if there is only one member./shereholder. A married couple also qualifies as a "single member" per IRS Rev. Proc. 2002-69, 2002-2 CB831 if 100% of the membership interests are owned by husband and wife as community property in a community property state

Initial I.R.S. filings include:

  • Initial filing of form SS-4 to obtain EIN
  • Initial filing of form 8832 to elect FDE status
Once the IBC obtains FDE status, compliance becomes a reasonably simple matter of working with your Accountant or C.P.A. to complete form 8858 and file this along with your 1040 (as a schedule) each year. 

It is however assumed that since you are forming an offshore company, you will also  be managing offshore assets such as Offshore Bank and Brokerage accounts, Gold Storage etc within the company. In this case, there will be additional reporting requirements including forms FBAR/FinCEN Form 114 (Foreign Financial Accounts) and Form 8938 (Statement of Specified Foreign Financial Assets).

In order to stay fully compliant with current I.R.S. requirements you will need to work with your accountant or C.P.A. to file the following forms, along with your 1040 on an annual basis:

  • Annual filing of form 8858 (detail) - Information return with respect to FDE
  • Annual filing of form 8938 (detail) - Statement of Specified Foreign Financial Assets
  • Annual filing of form FBAR/FinCEN Form 114 (detail) - Foreign Financial Accounts

Offshore tax reporting has gotten complicated, but with the right help, it is really no more complicated than preparing a complex tax return for a U.S. corporation! The problem is that there are many corporate service providers, both offshore and onshore, that "hard sell" offshore entities to a client without any disclosure whatsoever of these reporting requirements.

We feel that the marketing of offshore entities to U.S. Persons without full disclosures of their tax reporting requirements is grossly unethical. In fact a simple disclosure is just not enough for us:  Not only will we advise and inform you of these I.R.S. Reporting Requirements prior to processing your order, but once you become a client, we will provide you with "cliff notes" to provide to your accountant and issue reminder notices in advance of the filing deadlines of the various forms.

 

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Business incorporating and ancillary services are provided by “Approved Service Providers” in various jurisdictions including Hong Kong, Republic of Panama, Belize,
St. Kitts & Nevis and Nevada U.S.A.

All prices are listed in United States Dollars (USD).