### Question
What does United States owned foreign entity mean?


### Answer
**United States owned foreign entity** has the following meaning in *26 U.S.C. § 1471*:

> 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**

