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IRS Form 5471
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Form 5471 Webinar Series: The Section 962 Election

Portrait of Phil Hodgen

Phil Hodgen

Attorney, Principal

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Section 962 is a special election available to individual US shareholders of controlled foreign corporations. It allows individuals to use Subchapter C corporate tax principles to report income from CFCs and foreign tax credits for CFC-paid foreign income tax. It is a valuable technique for American individuals living abroad who own regular businesses in normal countries to reduce their US tax burden.