Every month, a new international tax topic. Join the Hodgen Law team live—fresh insights, straight from the source. This month, we’ll look at Form 5471.

This session dives into the complex but crucial world of tracking previously taxed earnings and profits (PTEP) for U.S. shareholders of controlled foreign corporations (CFCs). Schedule J tracks earnings movement within the foreign corporation, while Schedule P allocates those earnings across U.S. shareholders, considering Subpart F income, Section 956 inclusions, and GILTI. Accurate reporting is essential to avoid double taxation and ensure proper foreign tax credit utilization. We’ll unpack how to maintain detailed PTEP accounts, navigate common reporting traps, and stay ahead of compliance requirements in an evolving international tax environment.

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Formerly named International Tax Lunch Series August 2025