Steve Dickinson, co-chair of Cozen O’Connor’s International Practice Group, discusses recent developments in reporting requirements for foreign investors in the ABA Section of International Law’s M&A and Joint Ventures Committee Newsletter. The Internal Revenue Service and the Bureau of Economic Analysis (BEA) both have instituted significant changes to their reporting requirements for foreign investors in the United States, including new rules that may require foreign-owned limited liability companies to obtain a U.S. Employer Identification Number (EIN) and file annual reports with the IRS. Steve says that unfortunately the new IRS and BEA requirements “are easily overlooked by foreign investors, and, such an overnight could prove costly.”
The ABA Section of International Law's M&A and Joint Ventures Committee Newsletter is available here.