In filing form 5471 what is the difference between a category 1 and a category 5 filer? The definitions read almost the same.

[sjrcpa · Accepted solution]

Taxpayer could be both. 1 is new this year.

[aortiz]

My understanding is that all Cat 5 filers are also Cat 1 filers, however, Cat 1 filers additionally include domestic US corporations (not individuals) that are US Shareholders (10% or more) of a non CFC's. That is >10% but < 51%.