June 26, 2015
FORM BE 10 DUE BY JUNE 30TH OR THERE MAY BE PENALTIES - THIS FORM MUST BE FILED IN MOST SITUATIONS WHEN YOU OWN A FOREIGN CORPORATION
Form BE 10 and its many sub variations is not a tax form, but is now required by by another Branch of the Government and not the IRS.
As a courtesy, we are making you aware of the potential requirement. It is a survey that is required whenever a U.S. person owns 10% or more of any business enterprise overseas. The form is due June 30th. Read more about it in the following link:
Our firm does not plan to get involved in these filings as a rule; however, if any of you need help we can see what we can do. If you are conservatively minded you should file the form to avoid any exposure to possible penalties.