Federal Income Tax Returns
U.S. citizens and U.S. tax residents are generally required to file Form 1040, U.S. Individual Income Tax Return, if their income exceeds the applicable filing threshold. U.S. citizens and green card holders generally remain subject to U.S. tax reporting on their worldwide income even when they live outside the United States.
Nonresident aliens who receive income connected with the United States or otherwise meet the applicable filing requirements generally file Form 1040-NR, U.S. Nonresident Alien Income Tax Return.
Taxpayers living abroad may be able to reduce or eliminate double taxation through mechanisms such as the Foreign Tax Credit, the Foreign Earned Income Exclusion and applicable income tax treaties. However, these provisions do not automatically eliminate the obligation to file a U.S. tax return.
Streamlined Filing Compliance Procedures
The Streamlined Filing Compliance Procedures may be available to taxpayers who certify that their failure to report foreign financial assets and pay the related U.S. tax did not result from willful conduct.
Eligible taxpayers residing outside the United States who fully comply with the requirements of the Streamlined Foreign Offshore Procedures are generally not subject to the covered failure-to-file, failure-to-pay, accuracy-related, information-return and FBAR penalties.
Eligibility depends on the taxpayer’s individual circumstances, including satisfaction of the applicable non-residency and non-willfulness requirements. The streamlined procedures do not provide a general waiver of every potential tax, interest or penalty.
Corporate Income Tax Returns
A domestic entity classified as a corporation for U.S. federal tax purposes generally files Form 1120, U.S. Corporation Income Tax Return, to report its income, gains, losses, deductions, credits and federal income tax liability.
An eligible domestic entity may elect to be classified as a corporation by filing Form 8832. A qualifying corporation may also elect S corporation status by filing Form 2553. Different filing and taxation rules apply to S corporations, partnerships and disregarded entities.
State Tax Returns
Separate state and local tax returns may be required in addition to the federal tax return. The applicable filing obligations depend on factors such as residence, domicile, business activity, employment, property ownership and income sourced to a particular state.
Moving outside the United States does not necessarily terminate state tax residence. Certain states may continue to treat an individual as domiciled or resident until sufficient connections with the state have been severed.
Foreign Bank Account Report – FBAR
A U.S. person must generally file a Foreign Bank Account Report, FinCEN Form 114, if that person has a financial interest in, signature authority over or other authority over one or more financial accounts located outside the United States and the aggregate maximum value of all such accounts exceeded $10,000 at any time during the calendar year.
For FBAR purposes, a U.S. person may include a U.S. citizen, U.S. resident, corporation, partnership, limited liability company, trust or estate formed or organized under U.S. law. The FBAR is filed electronically with the Financial Crimes Enforcement Network and is separate from the federal income tax return.
Specified Foreign Financial Assets – Form 8938
Certain individuals and entities may also be required to report specified foreign financial assets on Form 8938, Statement of Specified Foreign Financial Assets. Form 8938 is generally attached to the applicable federal income tax return.
Form 8938 and the FBAR are separate reporting obligations. Filing one form does not replace the requirement to file the other when both sets of filing thresholds are met.
Foreign Corporations – Form 5471
Certain U.S. persons who are officers, directors or shareholders of foreign corporations may be required to file Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations.
The filing requirements depend on factors such as the percentage of ownership, changes in ownership, control of the foreign corporation and whether the corporation is classified as a controlled foreign corporation. Individual taxpayers generally attach Form 5471 to their Form 1040.
Additional U.S. taxation may arise under the Subpart F and Global Intangible Low-Taxed Income rules. Failure to file a complete and accurate Form 5471 can result in substantial penalties and may keep the statute of limitations open for affected items.
Foreign-Owned U.S. Disregarded Entities – Form 5472
A U.S. corporation that is at least 25% foreign-owned may be required to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business, when it has reportable transactions with a related party.
A foreign-owned U.S. disregarded entity is also treated as a reporting corporation for this purpose. It generally must file Form 5472 together with a pro forma Form 1120 when it has a reportable transaction with its foreign owner or another related party.
Reportable transactions may include contributions, distributions, loans, payments, reimbursements and certain transactions involving the formation, acquisition, disposition or liquidation of the entity. Significant penalties may apply if Form 5472 is filed late, is incomplete or is not filed.
Estate and Gift Tax Returns
U.S. citizens and residents may be subject to federal estate and gift tax on transfers of property during life and at death. The applicable filing requirements depend on the year of the gift or death, the value and type of the transferred property, prior taxable gifts, and the citizenship and domicile of the persons involved.
Estate Tax Return – Form 706
For a U.S. citizen or resident who dies in 2026, the executor generally must file Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, if the decedent’s gross estate, increased by adjusted taxable gifts and any applicable specific exemption, exceeds $15,000,000.
Form 706 may also be filed to elect portability of a deceased spouse’s unused exclusion amount, even if the value of the estate does not otherwise exceed the filing threshold.
Different rules apply to individuals who were neither U.S. citizens nor domiciled in the United States at death, including estates holding real estate, securities or other assets situated in the United States.
Gift Tax Return – Form 709
A U.S. citizen or resident may be required to file Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, when making taxable gifts. For 2026, the annual gift tax exclusion is generally $19,000 per recipient.
A gift exceeding the annual exclusion does not necessarily result in immediate gift tax. The excess may instead reduce the donor’s remaining lifetime exclusion. A Form 709 filing may nevertheless be required.
Certain transfers may require reporting even when no current gift tax is payable, including gifts of future interests, certain transfers involving trusts and gifts that are split between spouses. Special limitations apply to gifts made to a spouse who is not a U.S. citizen.
Estate and gift tax rules are particularly complex in cross-border situations. Foreign inheritance or gift taxes, applicable tax treaties, the location of the assets, domicile, marital status and prior transfers may materially affect the filing obligations and overall tax result.
Individual Taxpayer Identification Number – ITIN
An Individual Taxpayer Identification Number is a tax processing number issued by the Internal Revenue Service to certain individuals who require a U.S. taxpayer identification number but are not eligible to obtain a Social Security Number.
An ITIN may be required, for example, by a nonresident alien filing a U.S. tax return, a foreign spouse included on a joint return or certain dependants claimed on a U.S. return. An ITIN does not provide immigration status, employment authorization or eligibility for Social Security benefits.
An ITIN application is generally submitted on Form W-7 together with the required identification documents and, unless an exception applies, the relevant federal income tax return.