Is it advisable to classify an eligible entity as disregarded as separate from its owner?

Corporations set up in foreign countries are required to file Form 5471.

In general, we do not recommend electing to classify an entity as disregarded as separate from its owner. Doing so will not simplify the filing process as you would need to file Form 8858 ($600) and Schedule C  ($150, 1 is included in the Premier package) instead of Form 5471 ($600) without the added benefits described here.

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