Jennifer Harris, CPA


    Credit Info
  • NASBA Field of Study

  • Format

    On demand

  • Level

  • CPE Credit


  • Course acronym

  • Prerequisites

  • Course duration

    1 Hour and 15 minutes

International Tax Compliance for Nonprofits

Schedule F of the Form 990 has a list of trigger questions related to potential foreign filing an exempt organization may need to file with the Form 990 or Form 990-T, however, there are not clear instructions for when the filings will apply. Furthermore, many of the US international tax provisions do not contemplate exempt organizations and thus reviewing the foreign filing instructions can be difficult to understand when a filing is needed.

This video helps organizations and practitioners understand when US filings are required. In addition, the video covers the TCJA 2017 and how GILTI and the changes in the controlled foreign corporation may affect the reporting obligations of organizations with foreign investments (including foreign program entities). We briefly cover the rules under Sec. 965 for fiscal year end taxpayers.
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Topics discussed

Learning objectives

Understanding of the foreign filing requirements for organizations (FBARs, Forms 5471, 8865, 8858, 8621, etc)
Identify planning ideas for organizations to consider when making foreign investments or operating abroad from a US tax perspective.

Who will it benefit?

Those with basic knowledge of not-for-profit operations, auditing, accounting and/or compliance requirements. General experience working in, or auditing, not-for-profits, including those NFPs audited under GAGAS.