5471
Information Return of U.S. Persons With Respect To Certain Foreign Corporations
Form 5471 is the Information Return of U.S. Persons With Respect To Certain Foreign Corporations. The instructions say it is used by certain U.S. persons who are officers, directors or shareholders in certain foreign corporations, and that the form and schedules satisfy the reporting requirements of sections 6038 and 6046 and the related regulations.
The filer checks one or more categories of filer, from 1a to 5c, and the instructions include a chart of which schedules each category completes. A separate Form 5471 and its applicable schedules are completed for each applicable foreign corporation. The form says all information must be in English and all amounts stated in U.S. dollars unless otherwise indicated.
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The foreign corporation's annual accounting period, the filer's name, address and identifying number, and items B to H: category of filer, voting stock owned, final return, alternative information and persons the return is filed for.
The foreign corporation's name and address, EIN or reference ID number, country of incorporation, business activity, functional currency, U.S. branch or agent, statutory agent and custodian of books and records.
Schedule A lists each class of stock and the shares outstanding. Schedule B lists U.S. shareholders in Part I and direct shareholders in Part II.
Income, deductions, net income and other comprehensive income, reported in functional currency under U.S. GAAP and in U.S. dollars.
Schedule F is the balance sheet. Schedule G, Other Information, asks yes or no questions. The instructions say question 3b and line 21 of Schedule G are new in this revision.
Schedule I summarizes the shareholder's income from the foreign corporation. Separate schedules, such as E, H, I-1, J, M, O, P, Q and R, are attached when the filing chart calls for them.
Enter the foreign corporation's annual accounting period below the title, then the filer's name and address. For a consolidated return, the instructions say to enter the U.S. parent's name and its EIN in item A.
Check every category that applies. The instructions say a filer that meets both Category 4 and Category 5a checks only Category 4 and leaves 5a blank.
Enter the voting stock percentage owned at the end of the period. Check item D only for the foreign corporation's final year, and then complete Schedule O. Item G takes the alternative information code when item F is checked.
Describe the foreign corporation and its stock, then list the shareholders. The form says each class of stock in Schedule B should match the description entered in Schedule A, column (a).
Report Schedule C in functional currency under U.S. GAAP and translated to U.S. dollars. If the functional currency is the U.S. dollar, the form says to complete only the U.S. Dollars column.
If a section needs more space, the instructions say to complete all entry spaces first and attach the rest on sheets that conform with the IRS version, rather than entering See attached.
The form says to fill in all applicable lines and schedules. The instructions say a required schedule with all zero amounts is still filed with one or more zero amounts.
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The instructions say to attach Form 5471 to the filer's income tax return, or partnership or exempt organization return, and file both by the due date, including extensions, for that return.
The instructions say to complete a separate Form 5471 and all applicable schedules for each applicable foreign corporation.
The instructions list a $10,000 penalty for each annual accounting period of each foreign corporation for failure to furnish the information required by section 6038(a) within the time prescribed.
If the information is not filed within 90 days after the IRS mails a notice, an additional $10,000 per foreign corporation applies for each 30-day period, limited to a maximum of $50,000 for each failure.
The instructions say failure to file or report all of the information requested by section 6046 is subject to a $10,000 penalty for each such failure for each reportable transaction.
The About page lists the implementation of new foreign tax allocation reporting in the Schedule E (Form 5471) instructions, dated SEP-14-2026.
5471
131 fields, 2 pages
5471 Sch. M
178 fields, 2 pages
5471 Sch. Q
691 fields, 4 pages
5471 Sch. R
101 fields, 1 page
8938
131 fields, 2 pages
8858
190 fields, 4 pages
The instructions say U.S. persons described in the categories of filers complete the schedules, statements and information the filing chart lists for their category, and attach the form to their own return.
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The About page says certain U.S. citizens and residents who are officers, directors or shareholders in certain foreign corporations file it. The instructions describe five categories of filers.
The instructions say to attach it to the filer's income tax return, or partnership or exempt organization return, and file both by the due date, including extensions.
No. The instructions say to complete a separate Form 5471 and all applicable schedules for each applicable foreign corporation.
The instructions say the schedule should still be filed with one or more zero amounts.
The form says amounts are stated in U.S. dollars unless otherwise indicated. Schedule C is reported in functional currency and also translated to U.S. dollars.
The instructions say items reported on Form 5471 are not required on Form 8938. When item E is checked, only Form 8938, Part IV, line 17 is completed.
The instructions list a $10,000 penalty for each annual accounting period of each foreign corporation under section 6038(a), and a 10% reduction of the foreign taxes available for credit.