Reporting corporation
Reporting corporation (1)In general.For purposes of section 6038A, a reporting corporation is either a domestic corporation that is 25-percent foreign-owned as defined inparagraph (c)(2)of this section, or a foreign corporation that is 25-percent foreign-owned and engaged in trade or business within the United States. After November 4, 1990, a foreign corporation engaged in a trade or business within the United States at any time during a taxable year is a reporting corporation. See section 6038C. A domestic business entity that is wholly owned by one foreign person and that is otherwise classified under 301.7701-3(b)(1)(ii) of this chapter as disregarded as an entity separate from its owner is treated as an entity separate from its owner and classified as a domestic corporation for purposes of section 6038A.See 301.7701-2(c)(2)(vi)of this chapter.