Business client sold his business for cash and stock in an international conglomerate. My client's company just received the K-1 and in it are nine IRS Forms 8858 "Information Return of U.S. Persons with Respect to Foreign Disregarded Entities and Foreign Branches".  The nine come from different countries.  My question - since the K-1 went to his business, do I have to fill out the same forms for his 1120S to go from his entity to him as an individual, and then of course complete the K-2/K-3 (yea...) or is this just from the top tier to the next level K-1 owner?

If anybody cares, I friggin hate foreign transactions.