Often, US persons who buy real estate in Costa Rica are encouraged to form a Costa Rican company in order to own the real estate. Costa Rican companies are considered associations taxable as a corporation under US tax law. When a U.S. person owns stock in a foreign corporation they may be required to file Form 5471. If you own an interest in a Costa Rican company, reach out to an International Tax Attorney with The McGuire Law firm to review your U.S. filing obligations.
IRS Form 5741
Free consultation with an international tax attorney