International Business Survey Checklist WeiserMazars LLP: Exactly Right. As one of the nation’s leading accounting firms, WeiserMazars provides the resources, experience and global expertise to help you adapt in a dynamically changing business landscape.
Client name: __________________________________________________________________________________________________________
I. CONTACTS Date(s) _________________________________________________
Interviewer(s)___________________________________________
Company Contact
Function or title
____________________________
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Email & phone number
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II. OPERATIONS General nature of business _____________________________________________________________________________________________ Approximate size–Yearly sales ____________________________
Number of employees ___________________________________
Description of processes: a. R&D, licensing, patent and trademarks, other key intellectual property __________________________________________________ ___________________________________________________________________________________________________________________ b. Manufacturing ____________________________________________________________________________________________________ ___________________________________________________________________________________________________________________ c. Sales and marketing (including sales order approval process) _________________________________________________________ ___________________________________________________________________________________________________________________ d. Administration ____________________________________________________________________________________________________ ___________________________________________________________________________________________________________________
WeiserMazars LLP is an independent member firm of Mazars Group.
Principal level of trade: [check as applicable or estimate %] Wholesalers Distributors Direct to consumers, including OEMs
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III. FINANCIAL INFORMATION Financial reports or worksheets, check any or all that are attached: Audited Financial Statements, consolidated* Unaudited Financial Statements, consolidated* Unaudited Financial Statements, consolidating* Business Segment Reporting work papers, by country & entity* * Please attach copies of the indicated documents.
Sales, by destination:* Within the US, approximate amount Outside US, approximate
Year ____________________ _________________________ _________________________
*Attach schedule of sales by destination country.
Export sales: Products manufactured or purchased by US entity and then sold to customers located outside of US (approximate amount)
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Location of property: Inventory within the US (approximate amount)
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Inventory outside US: Country name ____________________________________________________
Amount _________________________
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Property, Plant & Equipment within the US (original cost)
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Property, Plant & Equipment outside US (original cost): Country name ____________________________________________________
Cost amount _________________________
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Location of leased offices or other facilities outside of the US: Country name ____________________________________________________
Annual rent _________________________
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WeiserMazars LLP is an independent member firm of Mazars Group.
IV. EMPLOYMENT* Employment reports, check if attached: Employees and total salaries by Department Employees and total salaries by Location Unaudited Financial Statements, consolidating*
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If not scheduled, list employees outside of US by function and country below: Country name Function or job title _____________________________________________________ ___________________
Employees(#) _____________
Total salaries _____________
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* Please attach current management reporting organizational chart.
V. ORGANIZATIONAL STRUCTURE* Check that attachment indicates which companies have or have not made an Entity Classification Election (Form 8832) for US tax purposes [ ] For last five years, describe acquisitions and divestitures: Company name ____________________________________________________
Type of transaction _______________________________________________________
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_______________________________________________________
____________________________________________________
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* Please attach current corporate organizational chart (including functions, share ownership, countries of organization, operations, and headquarters.
For last five years, describe property transfers other than cash dividends and routine intercompany sales (including liquidations and initial capitalization of corporations and registered branches): From Entity Name
To Entity Name
Kind Of Property
Type Of Transfer
Cost
FMV
__________________ ___________________ __________________ ___________________ ___________________ ___________ __________________ ___________________ __________________ ___________________ ___________________ ___________ __________________ ___________________ __________________ ___________________ ___________________ ___________ __________________ ___________________ __________________ ___________________ ___________________ ___________ Indicate if there have been any studies undertaken of: Corporate Earnings and profits* Entity Tax Basis* *Please attach copies of any studies indicated.
WeiserMazars LLP is an independent member firm of Mazars Group.
YES [ ] [ ]
NO [ ] [ ]
VI. INTERCOMPANY TRANSACTIONS Indicate if any economic or similar transfer pricing studies that have been prepared.*
YES
NO
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Indicate if any transfer price documentation has been prepared under IRC Code §6662 or similar foreign provisions.*
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Indicate if intercompany accounts elimination entry support schedules are available.*
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Indicate if an intercompany pricing accounting policy has been adopted.*
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*Please attach copies of all documents indicated above.
If not clear from the above reports and schedules, indicate intercompany transactions for latest year: From Entity Name To Entity Name Type of Goods or services Transfer Price
Cost
__________________ ___________________ _______________________________________ ___________________ ___________ __________________ ___________________ _______________________________________ ___________________ ___________ __________________ ___________________ _______________________________________ ___________________ ___________ __________________ ___________________ _______________________________________ ___________________ ___________ If no formal transfer pricing policy or documentation exists, describe how prices are set and implemented: ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________
VII. U.S. TAX EXAMS During last two US tax exam cycles: Have any transfer pricing adjustments been proposed?
YES [ ]
NO [ ]
If yes, please attach copies of any IRS Forms 5701, Notices of Proposed Adjustment.
Were any transfer pricing issues discussed and resolved at the IRS Examination level? [ ] [ ] If any are yes, describe issue and resolution: ___________________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________ Have transfer pricing issues ever been pursued in the IRS Appeals Office or US litigation? [ ] [ ] If any are yes, describe outcome: ______________________________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________
WeiserMazars LLP is an independent member firm of Mazars Group.
Have any transfer pricing issues ever been submitted for YES NO consideration by a Competent Authority under the Mutual Agreement Procedure article of a U.S. Income Tax Treaty? [ ] [ ] If yes, describe issue, treaty partner and outcome: ______________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________
VIII. FOREIGN TAX EXAMINATIONS / CONTROVERSIES For years which remain open under the foreign statute of limitations on adjustments: YES NO Were any transfer pricing issues discussed and resolved at the agent level? [ ] [ ] If yes, describe country, issue and resolution: ___________________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________ Have any transfer pricing adjustments been formally proposed? [ ] [ ] If yes, were they subject to any foreign country appeals or litigation processes, other than competent authority described above? [ ] [ ] If either is yes, describe country, issue and outcome: ____________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________ ___________________________________________________________________________________________________________________
IX. TAX PROVISION Are provision workpapers attached which include analysis of current & deferred income tax provisions and related deferred tax assets, liabilities or valuation reserves? For income taxable by US? For income taxable by other countries? If “no” to either, are book-to-tax reconciliation schedules of material amounts attached? Uncertain tax positions “UTP”: Is there a UTP footnote in the financial statements? If yes, are footnote workpapers attached? Has IRS Schedule UTP been filed or to be filed with U.S. corporate tax return? If yes, are UTP workpapers attached? If no workpapers, is copy or draft of most recent IRS SCH UTP attached? If there is no UTP reporting, is there any other analysis of tax reserves that is attached?
WeiserMazars LLP is an independent member firm of Mazars Group.
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X. TAX ADVISORS Country name _________________________________________
Nature of Representation Returns Planning Appeals [ ] [ ] [ ]
Advisor Name ___________________________________
_________________________________________
___________________________________
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XI. U.S. TAX COMPLIANCE Are the following U.S. IRS & Treasury forms timely filed? Form 1120, U.S. Corporation Income Tax Return Form 1065, U.S. Return of Partnership Income Form 1120S, U.S. Income Tax Return for an S Corporation Form 1120-F, (full) U.S. Income Tax Return of a Foreign Corporation Form 1120-F, protective only, Form 8833,Treaty-based Return Position Disclosure Form 1120-F, protective only, no Form 8833 Form 1120-IC-DISC, Interest Charge Domestic International Sales Corporation Return Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund: Filed by company Filed by individual shareholders Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation Forms 1042 and 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding Treasury Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (“FBAR”) FBAR for companies FBAR for individuals
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NO [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ]
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Are any of the following certification schedules attached to a U.S. return: GRA compliance certification, Gain Recognition Agreement under IRC 367 APA compliance certification, Annual Report of Transaction Covered by Advanced Pricing Agreement Dual consolidated loss certification under Reg. §1.1503-2(g)(2)(vi)(B)
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Is there a procedure in effect to insure withholding or reporting of payments to foreign persons for US source income?
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XII. NOTES ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________
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WeiserMazars LLP is an independent member firm of Mazars Group.
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