Did the majority shareholder include your minority shareholder on their 5471?
Yes. The majority shareholder does list the minority shareholder on their 5471.
Dave
Then minority shareholder does not need to file. But don't take my word for it. Look at the instructions. The penalty is huge.
Thank you.
Instructions look complex. do you happen to see anything in the instructions as to a minority shareholder not having to file?
I don't have the time or inclination to research it for you. With the amount of the potential penalty, that your client would hold you liable for, I suggest you start reading or refer this out.
