Follow these steps to generate the statement of indebtedness with a foreign corporation in :
- Go to the Input Return tab.
- Select Miscellaneous Forms from the life-side menu and choose Inf Return of U.S. Persons (5471).
- Select Information of U.S. Persons from the dropdown menu.
- Locate the Filer's Information section.
- Click in the field for Category 3 filers - additional filing requirements to expand it.
- Enter the required information in each field.
- If you want to generate a statement for filing purposes only (substantiation only), you only need to enter a "-1" in the Amount of Indebtedness field and the Name of Subscriber. This will generate a statement with basic information.
- Click OK.
If the Category 3 filers - additional filing requirements field isn't completed, the program will generate the following diagnostic: Category 3 Additional Information schedule was not completed for Form 5471 #X. This schedule is required for category 3 filers. Ref. 2008641.
