### Question
How is the "United States owned foreign entity" defined?


### Answer
The term **United States owned foreign entity** is defined in *26 U.S.C. § 1471* as follows -

> any foreign entity which has one or more substantial United States owners

#### Citation:
  - *26 U.S.C. § 1471*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 4-TAXES TO ENFORCE REPORTING ON CERTAIN FOREIGN ACCOUNTS**

