Client is a US citizen, resident in UK, with a non-US (British) wife, who has no greencard. He is a shareholder in two small scale OMBs in the UK and he reports these on form 5471 and his US returns are done by a US based CPA.
I just stumbled across a mention about a form BE-10, being an information return "Reporting by US persons regarding non-US Business Holdings".
Can anyone confirm whether this BE-10 has to be completed? Or is this designed for international groups of companies on a grander scale than my client's?