Because the IRS needs to know...
Individuals and businesses who hold interests in foreign entities are subject to additional filing obligations mandated by the IRS. Failing to report these interests can lead to a $10,000 penalty imposed by the IRS.
Individuals and businesses who hold interests in foreign entities are subject to additional filing obligations mandated by the IRS. Failing to report these interests can lead to a $10,000 penalty imposed by the IRS.