Form 5471 / CFC Compliance Guide
Determine your Form 5471 filing category, required schedules, GILTI inclusion, and Subpart F income for your foreign corporation.
Corporation Details
Form 5471 Schedule Reference
Schedule A — Stock of the Foreign Corporation
Description of each class of stock, shares outstanding, par value.
Schedule B — US Shareholders
Name, address, TIN, and shares held for each US person owning ≥10%.
Schedule C — Income Statement
Foreign corp P&L translated to USD — gross income, deductions, net income.
Schedule E — Income, War Profits, Excess Profits Taxes
Foreign taxes paid or accrued by the corporation.
Schedule F — Balance Sheet
Assets, liabilities, equity in USD — beginning and end of year.
Schedule G — Other Information
CFC status, Subpart F, tested income, GILTI questions.
Schedule H — CFC Current E&P
Computation of current year earnings and profits of the CFC.
Schedule I — Summary of CFC Income
Subpart F income, GILTI tested income, high-tax exception analysis.
Schedule J — Accumulated E&P
Previously taxed income (PTI) tracking.
Schedule P — Previously Taxed E&P
Detailed PTI categories (§959 tracking).
Penalty for Non-Filing: $10,000 per form per year. Additional $10,000 for each 30-day period of non-compliance after IRS notice (up to $50,000 additional). Criminal penalties possible.