If you are a US tax payer who owns 10% or more of a foreign flow through a Limited Liability Company (LLC) or a foreign partnership, you should file Form 8865 together with your Individual Income Tax Returns. Form 8865 will indicate the annual Balance Sheet and the Income and Expense Statements of the foreign partnership. This report will also show the details of the partnership including your share in the partnership profits. Form 8865 is comparable to Form 1065 which is a requirement for a partnership or LLC with headquarters in the US.
As a US taxpayer you are required to report all your income from all sources, local or foreign on your individual income tax return. If you paid taxes on your income from a foreign partnership in a foreign country, you can apply this tax payment as a tax credit to offset the tax you will pay for the same income under the US tax laws.