Get the free Form 5471 (Schedule H-1)

Pro Rata Share of CFC Adjusted Net Income or Loss for Corporate Alternative Minimum TaxSCHEDULE H1 (Form 5471) (December 2024)OMB No. 15450123Attach to Form 5471. Go to www.irs.gov/Form5471 for instructions

How to fill out form 5471 schedule h-1

How to fill out form 5471 schedule h-1

1. Download Form 5471 from the IRS website.
2. Identify the category of filer you are under (e.g., Category 1, 2, 3, etc.).
3. Fill in the top section with taxpayer identification information.
4. Provide details of the foreign corporation, including its name, address, and identifying number.
5. Accurately report the foreign corporation's financial information, including total revenue, net income, and assets.
6. Complete any required schedules that correspond to the financial activities of the foreign corporation.
7. Verify the information for accuracy and completeness before submission.
8. Submit the completed form according to IRS guidelines, along with any necessary attachments.

Who needs form 5471 schedule h-1?

1. Businesses that own 10% or more of a foreign corporation.
2. U.S. shareholders of a foreign corporation.
3. Taxpayers who are required to report their interest in a controlled foreign corporation (CFC).
4. Individuals involved in certain transactions with foreign corporations.

For pdfFiller’s FAQs

Where do I find form 5471 schedule h-1?

The pdfFiller premium subscription gives you access to a large library of fillable forms (over 25 million fillable templates) that you can download, fill out, print, and sign. In the library, you'll have no problem discovering state-specific form 5471 schedule h-1 and other forms. Find the template you want and tweak it with powerful editing tools.

How do I edit form 5471 schedule h-1 straight from my smartphone?

You can easily do so with pdfFiller's apps for iOS and Android devices, which can be found at the Apple Store and the Google Play Store, respectively. You can use them to fill out PDFs. We have a website where you can get the app, but you can also get it there. When you install the app, log in, and start editing form 5471 schedule h-1, you can start right away.

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

Use the pdfFiller mobile app to complete your form 5471 schedule h-1 on an Android device. The application makes it possible to perform all needed document management manipulations, like adding, editing, and removing text, signing, annotating, and more. All you need is your smartphone and an internet connection.

What is form 5471 schedule h-1?

Form 5471 Schedule H-1 is a part of the IRS Form 5471, which is used to report certain information regarding foreign corporations in which U.S. taxpayers are shareholders.

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

U.S. persons who are officers, directors, or shareholders in a foreign corporation must file Form 5471, including Schedule H-1, if they meet certain ownership thresholds.

How to fill out form 5471 schedule h-1?

To fill out Form 5471 Schedule H-1, you need to provide information about the foreign corporation’s shareholders and their respective ownership percentages, as well as the corporation's financial information.

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

The purpose of Form 5471 Schedule H-1 is to provide the IRS with information about the ownership structure and financial details of foreign corporations in which U.S. shareholders have interests.

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

Form 5471 Schedule H-1 requires reporting details such as the shareholders' names, addresses, ownership percentages, and the total number of shares held, along with any additional financial data as required.