Get the free Schedule I-1 (Form 5471) (December 2018). Information for Global Intangible Low-Taxe...

SCHEDULE I1 (Form 5471)Information for Global Intangible Located Income OMB No. 15450123(December 2018) Department of the Treasury Internal Revenue ServiceAttach to Form 5471. Go to www.irs.gov/Form5471

How to fill out schedule i-1 form 5471

How to fill out schedule i-1 form 5471

1. To fill out Schedule I-1 form 5471, follow these steps:
2. Begin by providing your name, address, and employer identification number (EIN) on the top of the form.
3. Provide the taxable year and the country where your corporation is incorporated.
4. Indicate whether you are filing the form as a Category 3 or Category 4 filer, based on your ownership percentage.
5. Fill in the relevant information for your controlled foreign corporation (CFC) and any other related entities as required.
6. Complete Part I to provide details about your financial interests in the CFC, including any changes in ownership during the year.
7. Proceed to Part II and provide information about any transactions with the CFC or related entities, such as loans or transfers of property.
8. Fill out Part III to report any subpart F income, previously taxed income, or accumulated earnings and profits (AE&P) of the CFC.
9. Complete Part IV to report any other income, deductions, and tax credits related to the CFC.
10. Provide information about any previously untaxed earnings and profits, including any current year earnings and profits.
11. Finally, sign and date the form, and attach any necessary supporting documentation.
12. Please note that these are general instructions, and it is recommended to refer to the specific instructions provided with the form for more detailed guidance.

Who needs schedule i-1 form 5471?

1. Schedule I-1 form 5471 is required by U.S. citizens or residents who are officers, directors, or shareholders in certain foreign corporations. More specifically, it is needed by individuals who meet the filing requirements under Section 6038 of the Internal Revenue Code.
2. These filing requirements are typically applicable to individuals who have a certain level of ownership or control over a controlled foreign corporation (CFC). It is important to consult the instructions and seek professional advice to determine if you fall into the category of individuals who need to file this form.

For pdfFiller’s FAQs

How do I edit schedule i-1 form 5471 in Chrome?

Download and install the pdfFiller Google Chrome Extension to your browser to edit, fill out, and eSign your schedule i-1 form 5471, which you can open in the editor with a single click from a Google search page. Fillable documents may be executed from any internet-connected device without leaving Chrome.

How do I fill out schedule i-1 form 5471 using my mobile device?

Use the pdfFiller mobile app to fill out and sign schedule i-1 form 5471 on your phone or tablet. Visit our website to learn more about our mobile apps, how they work, and how to get started.

How do I fill out schedule i-1 form 5471 on an Android device?

Use the pdfFiller Android app to finish your schedule i-1 form 5471 and other documents on your Android phone. The app has all the features you need to manage your documents, like editing content, eSigning, annotating, sharing files, and more. At any time, as long as there is an internet connection.

What is schedule i-1 form 5471?

Schedule I-1 Form 5471 is used to report information about a foreign corporation in which a U.S. person is a shareholder.

Who is required to file schedule i-1 form 5471?

U.S. persons who are shareholders in foreign corporations are required to file Schedule I-1 Form 5471.

How to fill out schedule i-1 form 5471?

Schedule I-1 Form 5471 should be filled out by providing the required information about the foreign corporation, such as income, expenses, assets, and liabilities.

What is the purpose of schedule i-1 form 5471?

The purpose of Schedule I-1 Form 5471 is to ensure that U.S. persons accurately report their ownership interests in foreign corporations and provide information about the financial activities of these corporations.

What information must be reported on schedule i-1 form 5471?

Information that must be reported on Schedule I-1 Form 5471 includes income, expenses, assets, liabilities, and other financial details of the foreign corporation.