Foreign Losses, Foreign Currency, and Compliance



Foreign Losses, Foreign Currency, and Compliance

  • Format

    Course - Online

  • Duration


Focuses on the dual consolidated loss rules.

Learning outcomes

  • Identify fact patterns that may give rise to a Dual Consolidated Loss
  • Recognize triggering events that may give rise to Dual Consolidated Loss Recapture
  • Identify certain exceptions to triggering events
  • Apply Dual Consolidated Loss reporting requirements
  • Determine what is considered a Qualified Business Unit (QBU) under §989
  • Determine functional currency for foreign entities under §985
  • Recognize the complexities of branch and disregarded entity (DRE) currency transactions under §987
  • Explain currency translation rules under §986
  • Identify a section 988 transaction
  • Identify the various types of international reporting forms and how they apply to given situations
  • Identify when special transactional disclosures are required
  • Complete Forms 5471, 8858, 8865, and 926
  • Identify the consequences of non-compliance

£79.00 (CIMA members only)


VAT calculated on checkout

Product information


Build a solid foundation

This self-study online course is part of the U.S. International Tax Certificate, a comprehensive learning program geared to help global finance and accounting professionals navigate the highly complex world of international taxation. This course can be purchased individually or as part of the U.S. International Tax: Inbound and Outbound Transactions bundle. You must purchase the bundle to earn the digital badge.

The CPE self-study course focuses on the Dual Consolidated Loss (DCL) rules. It then covers various foreign currency rules and regimes under U.S. tax law. Finally, there is a detailed session on U.S. Federal income tax compliance regarding outbound compliance.

Who should take this course?

  • Public and corporate tax professionals interested in building a solid foundation in U.S. international taxation.

Professional development

All learning resources available in the CGMA Store qualify for CPD for CIMA members.

Format:Course - Online
Access:This is a digital product. You will have access to the content for a year after purchase date.

Return and refund policy

£79.00 (CIMA members only)


VAT calculated on checkout