Form 8865 – Return of U.S. Persons With Respect to Certain Foreign Partnerships.
Form 8865 is an information return that should be filed by certain U.S. citizens and residents who have controlled over a partnership formed in a foreign country to satisfy IRS reporting requirements.
Form 8865 is used to report ownership in a foreign partnership as well as certain financial data related to the partnership. On this form you must report current year income and expenses, transactions between you and the foreign partnership, original capital contribution, partnership’s ownership, a balance sheet of the activities of the partnership during the year, a statement of the profits of the partnership, details of any capital gains, a summary of the K-1 forms for the partners, a reconciliation of the partner’s capital accounts from the beginning to the end of the year and a page providing information about transactions between the controlled foreign partnership, its partners and any related entities. In addition, you must report transfers to the partnership as well as acquisitions, dispositions, and changes in foreign partnership interest.
Although Form 8865 is used to report interest and activities on foreign partnerships, the form is required to be filed with the partner’s tax return. Form 8865 should be filed with your personal income tax return by the due date of the return: April 14 or October 15 if an extension has being approved on your personal return.