Guide to IRS International Penalties

Taxpayer -These are applied to each tax year with no statue of limitation	Filing Requirement	Form IRC Penalty section
U.S. person with interest in:	Foreign Corporation (FC)	Form 5471 IRC 6038(b)
Foreign Partnership (FP)	Form 8865
FC or FP with Foreign Disregarded Entity	Form 8858
Penalty reducing Foreign Tax Credit:	Foreign Corporation (FC)	Form 5471 IRC 6038(c)
Foreign Partnership (FP)	Form 8865
FC or FP with Foreign Disregarded Entity***	Form 8858
25 percent foreign-owned U.S. corporations	Form 5472	IRC 6038A(d)
25 percent foreign-owned U.S. corporations that fail to: 1) authorize the reporting corporation to act as agent of a foreign related party, or 2) substantially comply with a summons for information	N/A	IRC 6038A(e)
Transferor of certain property to foreign persons:	Foreign Corporation	Form 926 IRC 6038B(c)
Foreign Partnership	Form 8865 Schedule O
Foreign corporations engaged in U.S. business	Form 5472	IRC 6038C(c)
Individuals receiving gifts from foreign sources exceeding $10,000 (adjusted annually for cost of living)*** use to be $100,000	Form 3520	IRC 6039F(c),
Individuals that relinquish their U.S. citizenship or abandon their long-term resident status	Form 8854	IRC 6039G(c)
Foreign persons holding direct investments in U.S. real property interests	N/A	IRC 6652(f)
U.S. person who transfers to, or receives a distribution from, a foreign trust	Form 3520	IRC 6677(a)
U.S. Owner of a foreign trust	Form 3520-A	IRC 6677(b)
Failure to file returns with respect to acquisitions of interests in:	Foreign Corporation	Form 5471 Schedule O IRC 6679,
Foreign Partnership	Form 8865 Schedule P	IRC 6679,
Foreign corporation failure to file personal holding company tax return	Form 1120 Schedule PH	IRC 6683(Repealedin 2005)
DISC, IC-DISC, or FSC failure to file returns or supply information:	DISC	Form 1120-DISC IRC 6686
IC-DISC	Form 1120-IC-DISC
FSC	Form 1120-FSC
Allocation of Individual Income Tax to Guam or the CMNI	Form 5074	IRC 6688
Statement for Individuals Who Begin or End Bona Fide Residence in a U.S. Possession	Form 8898	IRC 6688
Taxpayer’s failure to file notice of foreign tax redetermination under IRC 905(c) or IRC 404A(g)(2)	Form 1116 or Form 1118 (attached to Form 1040-X or Form 1120-X)	IRC 6689
Taxpayer’s failure to file notice of foreign deferred compensation plan under IRC 404A(g)(2)	N/A	IRC 6689
Taxpayer’s failure to disclose treaty-based return position	Form 8833 or statement	IRC 6712
Failure to Provide Information Concerning Resident Status (Passports and Immigration)	N/A	IRC 6039E
Information with Respect to Foreign Financial Assets Yearly penalty	Form 8938, Form TDF90.22-1	IRC 6038D 50% of assets