Elvira Frencillo, CPA
SENIOR MANAGER — TAX
Elvira Frencillo is a Senior Tax Manager at KROST. She has 30 years of accounting, financial, and taxation experience in both public and private industries. She has been in public accounting for over 15 years. Her areas of focus include tax planning, tax compliance, financial reporting for individuals and their closely held businesses, partnerships, corporations, and trusts. She serves clients in various industries, including financial services, real estate, professional services, and entertainment industries. She has extensive experience in working with clients and their attorneys in participating in the Federal Offshore Voluntary Disclosure Initiative Program (OVDI), Foreign Bank and Financial Account reporting, and Passive Foreign Investment Companies.
Professional Experience
- KROST, Senior Manager (January 2022 — Present)
- KROST, Manager (January 2019 — 2021)
- Gaynor & Umanoff, LLP (June 2007 — December 2018)
- Active Motor Fuels, Inc. (October 2001 — May 2007)
- Philippine National Bank, Manila Philippines (1993 — September 2001)
Education
- Master of Science in Business Administration - Banking and Finance, Philippine School of Business Administration, Manila, Philippines
- Bachelor of Science in Commerce - Accounting, University of Santo Tomas, Manila, Philippines
Professional Affiliations
- Member of California Society of Certified Public Accountants (CalCPA)
- Member of Philippine American Society of Certified Public Accountants
Elvira's Thought Leadership

New Schedules K-2 and K-3 Reporting for Form 1065, Form 1120-S, and Form 8865 – What You Need to Know
August 11, 2022For the tax year beginning in 2021, the IRS has implemented a new reporting requirement for partnerships,

Form 5471 – Reporting Ownership in Foreign Corporations
March 16, 2021You may be required to file Form 5471, “Information Return of U.S. Persons with Respect to Certain

Qualified Improvement Property (QIP) Technical Correction and Bonus Depreciation
March 16, 2021This is a preview of one of the articles in the new KROST Quarterly Real Estate Issue, titled

KROST Quarterly Magazine: The Real Estate Issue is Now Available!
October 26, 2020We are happy to announce the release of our newest quarterly magazine! The Real Estate Issue highlights

The Streamlined Offshore Disclosure Procedures
April 29, 2020It is not uncommon for U.S. citizens or Green Card holders to come across a situation where