Your Strategic Partner for Global Transparency
Reporting foreign interests is no longer optional—it is a critical legal requirement. At Redeem Tax, we specialize in identifying and disclosing complex global assets, protecting you from the severe penalties associated with undisclosed foreign income and international entities.
Proactive Asset Disclosure Strategy
We perform a high-level diagnostic of your global financial footprint to identify every reportable asset, including foreign corporations, partnerships, and offshore trusts. Our methodology focuses on reconciling disparate international financial systems with U.S. reporting standards, ensuring your disclosures are mathematically precise and legally sound before they reach the IRS.
Interactive Planning Approach
We conduct a comprehensive diagnostic of your global financial footprint, evaluating ownership percentages and control thresholds. Our team supports you through the entire lifecycle of your foreign investments, ensuring every reporting milestone is met.
Foreign Corporate Reporting (Form 5471)
Detailed preparation of information returns for U.S. persons who serve as officers, directors, or significant shareholders in foreign corporations.
Foreign Trust & Gift Disclosure (Form 3520)
Specialized reporting for U.S. beneficiaries of foreign trusts and individuals receiving significant gifts or bequests from non-U.S. persons.
PFIC & Foreign Partnership Analysis
Rigorous testing and reporting for Passive Foreign Investment Companies (PFICs) and foreign partnership interests (Form 8865) to mitigate punitive U.S. tax rates.
Global Transparency Without Complexity
IRS compliance rate for multi-jurisdictional filings.
In foreign assets accurately reported for our clients.
Peace of Mind for Global Stakeholders
We empower U.S. residents with global interests to stay ahead of evolving disclosure laws. By combining deep technical knowledge with automated diagnostic tools, we ensure your foreign entities are an asset, not a liability.
Driving Financial Solutions for the Automotive Industry
Entity Diagnostic (The Human Touch)
We review your organizational charts and ownership structures to determine exactly which IRS disclosure forms apply to your situation.
Financial Normalization (The Tech Edge)
Our precision tools convert foreign financial data into U.S. GAAP standards and official Treasury-mandated currency exchange rates.
Comprehensive Disclosure
We prepare your specialized informational returns (Forms 5471, 8865, 3520, etc.) ensuring a perfectly reconciled audit trail.
Secure Transmission
We transmit your disclosures via secure IRS e-file channels and provide a digital archive of your receipts for your permanent legal records.
Client Experiences That Speak for Themselves
“Redeem Tax made my tax filing stress free. Their expertise saved my time and money”
“Exceptional service! Their team explained everything clearly and got me a great refund”
“I felt supported every steps of the way. Highly recommended Redeem Tax for personalized service”
ITIN Filing FAQ’s
Common Questions on ITIN filing.
What is the penalty for failing to report a foreign corporation?
Failure to file Form 5471 can result in an initial penalty of $10,000 per year, which can increase significantly if the failure continues after IRS notification.
Do I need to report a gift from a foreign person?
Yes, if you receive more than $100,000 from a non-resident alien or foreign estate in a single tax year, you must disclose it on Form 3520.
How do you handle different foreign tax years?
We synchronize your foreign financial data with the U.S. calendar year, performing the necessary adjustments to ensure your reporting is accurate for your 1040 filing.
Do I need to report my foreign real estate holdings?
Directly held foreign real estate—such as a personal residence or a rental property—is generally not considered a “specified foreign financial asset” and does not need to be reported on Form 8938. However, if that real estate is held through a foreign entity (like a corporation, partnership, or trust), your interest in that entity is a reportable asset. Additionally, any rental income generated must still be reported on your U.S. tax return.
Are my foreign pension or retirement accounts reportable?
Yes. If you have an interest in a foreign pension, profit-sharing, or deferred compensation plan, it is typically considered a specified foreign financial asset. These accounts must be reported if the aggregate value of all your foreign assets exceeds the applicable reporting thresholds for your filing status.