This Schedule Q Form 5471 guide explains the IRS CFC Income by CFC Income Groups. Schedule Q for Form 5471 reports CFC income by the required income groups. The grouping of income, deductions and related tax information supports other calculations. The schedule should be prepared from category-level workpapers rather than a single unclassified net income amount.
Reviewed October 31, 2026. This is an independent guide. The version and availability information below identifies the IRS documents used for this page.
What Schedule Q Form 5471 does and who prepares it
A required Form 5471 filer reports the CFC income groups and related information described in the applicable instructions.
For the connected reporting route, see Form 5471. Keep the role of that document separate from the task explained on this page.
| Official form | Form 5471 (Schedule Q) |
|---|---|
| IRS title | CFC Income by CFC Income Groups |
| Guide period | the applicable reporting period |
| Target version | Dec 2024 |
| Availability | Current IRS catalog PDF |
| Last checked | October 31, 2026 |
Get the Schedule Q 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 Schedule Q 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 Schedule Q Form 5471
- CFC income and deduction workpapers.
- Income-group classifications.
- Foreign tax information.
- Applicable election support.
- Related earnings schedules.
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 Schedule Q 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.
Report foreign income taxes paid or accrued with respect to E&P described in section 959(c)(1) and (c)(2). See the information about the 10 PTEP group columns. Also see Regulations section 1.960-3(c)(2) for additional information regarding the 10 PTEP groups.
Use Schedule Q to report the CFC’s income, deductions, taxes, and assets by CFC income groups for purposes of section 960(a) and (d).
Expand the Schedule Q if you are reporting with respect to more than two units. Specifically, if you are reporting with respect to more than two units, add to pages 1 to 4, as appropriate, new lines (3), (4), (5), etc., in all necessary locations.
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.
Additional reporting conditions
If code 901j is entered on line A, enter on line 1m, column (i), the country code for the sanctioned country using the two-letter code (from the list at IRS.gov/ CountryCodes). Important. In addition to the separate category codes referred to above, if you have more than one of the categories of income referred to above, you must complete and file a separate Schedule Q using code “TOTAL” that aggregates all amounts listed for each line and column in all other Schedules Q. Line B.
If category code “PAS” is entered on line A, a separate Schedule Q must be completed for each applicable grouping under Regulations section 1.904-4(c) (3). See Regulations sections 1.954-1(c)(1)(iii)(B) and 1.904-4(c)(3) through (5). Enter on line B the appropriate code from the table below for each of the following groups under Regulations section 1.904-4(c)(3).
All passive income received during the tax year that is subject to a withholding tax of 15% or greater must be treated as one item of income. See Regulations section 1.904-4(c)(3)(i).
All passive income received during the tax year that is subject to a withholding tax of less than 15% (but greater than zero) must be treated as one item of income. See Regulations section 1.904-4(c)(3)(ii).
All passive income received during the tax year that is subject to no withholding tax or other foreign tax must be treated as one item of income. See Regulations section 1.904-4(c)(3)(iii).
Calculations and supporting information
All passive income received during the tax year that is subject to no withholding tax but is subject to foreign tax other than a withholding tax must be treated as one item of income. See Regulations section 1.904-4(c)(3)(iv).
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 |
|---|---|---|
| A | Enter separate category code with respect to which this Schedule Q is being completed (see instructions for codes) | 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. |
| B | If category code “PAS” is entered on line A, enter the applicable grouping code (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. |
| C | If code “901j” is entered on line A, enter the country code for the sanctioned country (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. |
| D | Indicate whether this Schedule Q is being completed for: | 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. |
| E | If this Schedule Q is being completed for FOGEI or FORI income, check this box | 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. |
Further selected fields
| Line or box | Label in the source form | What to check |
|---|---|---|
| 1 | Subpart F Income Groups | Identify the income or transaction category before entering a total. Preserve the distinction between gross amounts, adjustments and the resulting taxable or reportable figure. |
| 2 | Recaptured Subpart F Income . | Identify the income or transaction category before entering a total. Preserve the distinction between gross amounts, adjustments and the resulting taxable or reportable figure. |
| 3 | Tested Income Group (Total) . | Follow the stated arithmetic and line references in sequence. Complete the referenced inputs first and retain the worksheet supporting the result. |
| 4 | Residual Income Group (Total) . | 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 CFC has different categories of income and related expenses. The preparer classifies the supported items under the required groups and reconciles the results with the other foreign corporation schedules.
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 Schedule Q Form 5471
- Apply the applicable-year group definitions.
- Keep income and allocable deductions reconciled.
- Do not substitute an aggregate foreign financial statement total for all required groups.
Questions about Schedule Q Form 5471
Does receiving or downloading this form mean I must file it?
A required Form 5471 filer reports the CFC income groups and related information described in the applicable instructions. 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?
Apply the applicable-year group definitions. 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 CFC income and deduction workpapers, income-group classifications, foreign tax information. 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.
- Form 5471: PDF & Foreign Corporations Guide
- Schedule E (Form 5471): PDF & Income, War Profits, and Excess Profits Taxes Paid or Accrued Guide
- Schedule I-1 (Form 5471): PDF & Information for Global Intangible Low-Taxed Income Guide
- Schedule J (Form 5471): PDF & Accumulated Earnings and Profits (E&P) of Controlled Foreign Corporation Guide