Description
U.S. Partnerships with Foreign Partners: Withholdings and forms K-2/K-3
IRS Program #: X9QQU-T-01087-23-O
CTEC #: 6257-CE-0253
CE: 1 IRS & 1 CTEC credit
Speaker: Sara Eddie
Some U.S. investments made by nonresidents are via a multi-member LLC. For example, foreign investment in U.S. real estate is commonly done using a U.S. partnership. A multimember LLC is treated as a partnership for federal U.S. tax purposes. Partnerships with foreign partners carry various complex filing withholding and filing obligations. This course will discuss and review the withholding obligations of a partnership with foreign partners. Additionally, the presentation will cover the scenarios where new K-2 and K-3 must be provided by the partnership.
Learning Objectives:
After attending the session, the participant will be able to:
- Determine withholding obligations of partnerships with foreign clients.
- Identify scenarios that require filing forms K-2 & K-3.
- Detect common exceptions to K-2 & K-3.