This Form 5471 guide explains the IRS Information Return of U.S. Persons With Respect to Certain Foreign Corporations. Form 5471 reports the foreign corporation information required for the applicable filer categories. Ownership, control, officer or director status and particular transactions can affect filing obligations. The form and its schedules are an information-reporting package, not a substitute for the related income tax computations.
Reviewed October 31, 2026. This is an independent guide. The version and availability information below identifies the IRS documents used for this page.
What Form 5471 does and who prepares it
A U.S. person with a filing requirement under the applicable foreign corporation reporting categories supplies the return information.
For the connected reporting route, see Form 5471 (Schedule H). Keep the role of that document separate from the task explained on this page.
| Official form | Form 5471 |
|---|---|
| IRS title | Information Return of U.S. Persons With Respect to Certain Foreign Corporations |
| Guide period | the applicable reporting period |
| Target version | Dec 2025 |
| Availability | Current IRS catalog PDF |
| Last checked | October 31, 2026 |
Get the Form 5471 PDF and check its status
Use the IRS source to confirm the document before completing a real filing. The download link is a reference to the official file; it is not a statement that every copy inside the PDF may be printed and submitted. Follow any instructions about electronic filing, scannable copies, recipient copies or attachments.
Which version of Form 5471 should you use?
This form follows a revision or continuing-use format rather than a new title for every calendar year. Check the revision printed on the document and the period requested inside it. A revision date, transaction date and tax year are different pieces of information. The current document should be read with the instructions that apply to the actual transaction or return.
Records to gather for Form 5471
- Foreign corporation ownership records.
- Foreign financial statements.
- Transaction details.
- Earnings and profits workpapers.
- Applicable filer-category analysis.
Keep a working reconciliation with these records. It should show the source of each reported item, any correction made before filing and the reason a different amount appears on a connected form. This is especially useful when a statement is corrected or a prior-year balance continues into the current calculation.
How to work through Form 5471
- Confirm applicability. Start with the purpose, filer category and version of the form. Complete any eligibility or applicability question before spending time on the numerical calculation.
- Prepare the source workpapers. Gather the records listed below and reconcile their totals. Keep prior-year balances, current-year transactions and estimated payments separate where they serve different purposes.
- Complete dependent calculations first. When a line refers to another form, schedule or worksheet, finish that supporting calculation first. Preserve any classification, limitation and carryforward information.
- Follow the line sequence. Use the actual line labels and arithmetic in the applicable form. A line number from an older version may refer to something different after a revision.
- Reconcile the filing package. Check names, identifying numbers, tax periods, totals and required attachments. Then use the filing method, signature process and deadline that apply to this filer and form.
Form-specific IRS instructions and reporting details
The following points retain the operative wording of the IRS documents linked above. Read each point with its stated conditions and the applicable form version. References to another form or section describe a connected requirement; they do not mean that every reader must file every referenced document.
Generally, all U.S. persons described in Categories of Filers below must complete the schedules, statements, and/or other information requested in the chart, Filing Requirements for Categories of Filers, later. Read the information for each category carefully to determine which schedules, statements, and/or information apply. Note. When a schedule is required but all amounts are zero, the schedule should still be filed with one or more zero amounts.
For schedules that are completed by category (that is, Schedules E, I-1, J, P, and Q), inclusion of a single instance of that schedule for any separate category will meet the requirement. If the filer is described in more than one filing category, do not duplicate information. However, complete all items that apply. For example, if you are the sole owner of a CFC (that is, you are described in Categories 4 and 5a), complete all six pages of Form 5471 and separate Schedules E, G-1, H, H-1, I-1, J, M, P, Q, and R.
Note: Complete a separate Form 5471 and all applicable schedules for each applicable foreign corporation.
Additional reporting conditions
Category 1 Filers—Exceptions From Filing Certain constructive owners. • A Category 1 filer does not have to file Form 5471 if all of the following conditions are met. 1. The Category 1 filer does not own a direct interest in the foreign corporation. 2. The Category 1 filer is required to furnish the information requested solely because of constructive ownership (as determined under Regulations section 1.958-2, 1.6038-2(c), or 1.6046-1(i)) from another U.S. person. 3.
The U.S. person through which the Category 1 filer constructively owns an interest in the foreign corporation files Form 5471 to report all of the information required of the Category 1 filer.
A Category 2 filer does not have to file Form 5471 if: 1. Immediately after a reportable stock acquisition, three or fewer U.S. persons own 95% or more in value of the outstanding stock of the foreign corporation and the U.S. person making the acquisition files a return for the acquisition as a Category 3 filer; or 2.
The U.S. person(s) for which the Category 2 filer is required to file Form 5471 does not directly own an interest in the foreign corporation but is required to furnish the information solely because of constructive stock ownership from a U.S. person, and the person from whom the stock ownership is attributed furnishes all of the information required of the Category 2 filer. Other filing exceptions. Certain other filing exceptions apply to all categories of filers. See Additional Filing Exceptions, later.
Calculations and supporting information
1. The Category 3 filer does not own a direct interest in the foreign corporation. 2. The Category 3 filer is required to furnish the information requested solely because of constructive ownership (as determined under Regulations section 1.958-2, 1.6038-2(c), or 1.6046-1(i)) from another U.S. person. 3. The U.S. person through which the Category 3 filer constructively owns an interest in the foreign corporation files Form 5471 to report all of the information required of the Category 3 filer. No statement is required to be attached to tax returns for persons claiming this constructive ownership exception.
Other filing exceptions. Certain other filing exceptions apply to all categories of filers. See Additional Filing Exceptions, later.
Rev. Proc. 92-70, 1992-2 C.B. 435, provides a summary filing procedure for filing Form 5471 for a dormant foreign corporation (defined in section 3 of Rev. Proc. 92-70). This summary filing procedure will satisfy the reporting requirements of sections 6038 and 6046. If you elect the summary procedure, complete only page 1 of Form 5471 for each dormant foreign corporation as follows. • The top margin of the summary return must be labeled “Filed Pursuant to Rev.
Proc. 92-70 for Dormant Foreign Corporation.” • Include filer information such as name and address, items A through C, and tax year. • Include corporate information such as the dormant corporation’s annual accounting period (below the title of the form) and items 1a, 1b, 1c, and 1d. For more information, see Rev. Proc. 92-70.
Exceptions and related reporting
Check the item E checkbox if any excepted specified foreign financial assets are reported on Form 5471. If this is the case, you do not have to also report these assets on Form 8938. It is only necessary to complete Form 8938, Part IV, line 17. For more information, see the Instructions for Form 8938, generally, and in particular, Duplicative Reporting and the specific instructions for Part IV, Excepted Specified Foreign Financial Assets.
The foreign corporation’s functional currency is determined under section 985. Enter the applicable three-character alphabet code for the foreign corporation’s functional currency using the ISO 4217 standard. These codes are available at six-group.com/en/productsservices/financial-information/datastandards.html#scrollTo=currency-codes. Click on List One (XLS). Regulations sections 1.6038-2(h) and 1.6046-1(g) require that certain amounts be reported in U.S. dollars and/or in the foreign corporation’s functional currency. The specific instructions for the affected schedules state these requirements. Special rules apply for foreign corporations that use the U.S. dollar approximate separate transactions method of accounting (DASTM) under Regulations section 1.985-3.
See Schedule C, Schedule F, and Schedule H, later.
The purpose of Section 2 is to track deemed-paid foreign income taxes with respect to current-year PTEP distributions from lower-tier foreign corporations to the foreign corporation with respect to which this Schedule E (Form 5471) is being completed (“the foreign corporation”). Report a PTEP distribution by a lower-tier foreign corporation in Section 2 only if foreign income taxes are deemed paid under section 960(b) by the foreign corporation with respect to such PTEP distribution.
Further form details
Specific Instructions for Schedule Q Name of person filing Form 5471. The name of the person filing Form 5471 is generally the name of the U.S. person described in the applicable category or categories of filers (see Categories of Filers, earlier). However, in the case of a consolidated return, enter the name of the U.S. parent in the field for “Name of person filing Form 5471.” Reference ID number of foreign corporation. If applicable, use the reference ID number shown on Form 5471, page 1, item 1b(2). Line A.
Complete a separate Schedule Q for each applicable separate category of income. Enter the appropriate code from the table below for the separate category of income with respect to which the Schedule Q is being completed.
Reading the lines and boxes
These selected labels come from the linked target PDF. They are a reading aid, not a replacement for the full line instructions or a completed calculation. Match the label and document version before transferring any amount.
| Line or box | Label in the source form | What to check |
|---|---|---|
| D | Check box if this is a final Form 5471 for the foreign corporation | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| E | Check if any excepted specified foreign financial assets are reported on this form (see instructions) | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| F | Check the box if this Form 5471 has been completed using “Alternative Information” under Rev. Proc. 2019-40 | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| G | If the box on line F is checked, enter the corresponding code for “Alternative Information” (see instructions) | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| H | Person(s) on whose behalf this information return is filed: | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
Further selected fields
| Line or box | Label in the source form | What to check |
|---|---|---|
| 1a | Name and address of foreign corporation | Use the identity of the person or entity requested on this line. Check that the name and identification number agree with the underlying tax records. |
| 2 | Provide the following information for the foreign corporation’s accounting period stated above. | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| 1a | Gross receipts or sales | Check the applicable line instructions and keep the source workpaper with the return records. Transfer only the information that matches the field and reporting period. |
| 2 | Cost of goods sold | Use the supported tax basis or cost measure requested by the instructions. Book value, original purchase price and adjusted tax basis can differ. |
| 3 | Gross profit (subtract line 2 from line 1c) | Follow the stated arithmetic and line references in sequence. Complete the referenced inputs first and retain the worksheet supporting the result. |
A practical example
A U.S. owner reviews an interest in a foreign corporation and a change in ownership during the year. The preparer identifies the applicable reporting categories and then gathers the particular schedules and income tax workpapers required by those facts.
This example illustrates the order of the review. It does not assume an unverified deduction, exemption, treaty rate or final tax amount. The applicable form instructions and the actual records determine the result.
Common mistakes to avoid with Form 5471
- Determine the filer categories before deciding which schedules are required.
- Do not assume the absence of a distribution means no filing requirement.
- Keep corporation-level and shareholder-level calculations distinct.
Questions about Form 5471
Does receiving or downloading this form mean I must file it?
A U.S. person with a filing requirement under the applicable foreign corporation reporting categories supplies the return information. The form purpose and the applicable filing or furnishing conditions determine the action. Downloading a blank PDF does not itself create a filing obligation or establish eligibility for a tax benefit.
Is the revision date always the same as the tax year?
No. Some forms show a tax year, while continuing-use forms show a revision date and ask separately for the reporting period. Check the actual document and instructions. Do not relabel a payment or transaction solely because it was reported in a later calendar year.
What should I do if the underlying information is wrong?
Determine the filer categories before deciding which schedules are required. Keep the original record and the correction trail. The issuer correction process, an amended return and an updated certificate can be different procedures. Choose the process that matches the document and the actual error.
Which records should I keep with the completed form?
Retain the source documents, applicable worksheets, submitted version and filing or furnishing confirmations. For this form, the working file should include foreign corporation ownership records, foreign financial statements, transaction details. Keep continuing balances and prior-year support for as long as they remain relevant under the applicable recordkeeping rules.
Related forms and next steps
Use these guides when the connected issue applies to your records. Each page has its own purpose, reporting year and availability status.
- Schedule H (Form 5471): PDF & Current Earnings and Profits Guide
- Schedule J (Form 5471): PDF & Accumulated Earnings and Profits (E&P) of Controlled Foreign Corporation Guide
- Schedule O (Form 5471): PDF, Instructions & Filing Requirements
- Schedule P (Form 5471): PDF & Previously Taxed Earnings and Profits of U.S. Shareholder of Certain Foreign Corporations Guide
- Form 8938: PDF & Foreign Financial Assets Guide
- Schedule H-1 (Form 5471): PDF & Pro Rata Share of CFC Adjusted Net Income Loss for Corporate Alternative Minimum Tax Guide