This article will help you generate Form 5471 and any required schedules. Follow the instructions below for an individual (1040) return, or click on a different tax type to get started.
The Category of Filer checkboxes control which schedules on the form are completed. A filer may fit into more than one category, in which case you'll need to check more than one box. See the table at the end of this article for information about which schedules should be completed for each category.
To generate Form 5471:
- Go to the section, Miscellaneous Forms, and then go to the screen, Information of U.S. Persons. This is available in the following tax types:
- Individual (1040)
- Partnership (1065)
- S-Corporation (1120S)
- Corporation (1120)
- Fiduciary (1041)
- Exempt organization (990)
- Complete any applicable information under the Filer's Information section:
- Name of person filing Form 5471
- Street address
- City
- State (if U.S. Address)
- ZIP code (if U.S. Address) or
- Region (If Foreign address)
- ZIP code If Foreign address)
- Country (If Foreign address)
- Identifying Number
- Annual tax year beginning
- Annual tax year ending
- Select one or more of the Category filer checkboxes.
- If checking the Category 3 filer box, in Category 3 filers- additional filing requirements, and click the "+" icon to the right of the field to expand the input field and complete any applicable fields.
- Enter the Percentage of foreign corporation's voting stock (xxx.xxxx) (this amount will print on Form 5471, page 1, Question C.)
- Enter the Translation Rates, if applicable. This rate can be referred to when completing Schedule C, Schedule F and Schedule M for Category 3 and 4 filers:
- Average
- Year end
- Check the box, DASTM (If the foreign corporation uses the U.S. dollar approximate separate transactions methods (DASTM) under Regulations section 1.985-3. The program will carry from line 21 of Schedule C to line 1 of Schedule H. DASTM will also print on Schedule C and Schedule F to indicate this method of filing.)
- Check the box, Dormant foreign corporation to indicate a summary of filing procedure for a dormant foreign corporation. Only page 1 of Form 5471 will generate.
- Enter If name change, previous name.
- Complete Part H- Person(s) on whose behalf this information return is filed subsection.
- Scroll down and complete all applicable information in the Foreign Corporation Information section:
- Name
- Street address
- City
- State (if U.S. Address)
- ZIP code (if U.S. Address) or
- Region (If Foreign address)
- ZIP code (If Foreign address)
- Country (If Foreign address)
- Employer ID number
- Reference ID number
- Select the Country under whose laws incorporated from the drop down menu.
- Date of incorporation
- Principal place of business from the drop down menu.
- Select the Principal business activity code number from the drop down menu.
- Principal business activity
- Functional currency
- Complete the Branch Office or Agent in the U.S. subsection.
- Complete the Foreign Corporation's Statutory or Resident Agent in Country of Incorporation subsection.
- Complete the Person(s) with Custody of Books and Records subsection.
- Select the applicable categories for the filer below for further instructions on this screen.
If additional schedules need to be generated and the taxpayer qualifies, check the additional appropriate category filers.
Required schedules for category filers
| Category Filer | Required Schedules |
| Category 2 filer | Identifying information on page 1 Schedule G Separate Schedule O, Part I |
| Category 3 filer | Identifying Information on page 1 Schedule A Schedule B Schedule C, E, F Schedule G Separate Schedule O, Part II |
| Category 4 filer | Identifying Information on page 1 Schedule A Schedule B Schedule C, E, F Schedule G Schedule H Schedule I Separate Schedule J Separate Schedule M |
| Category 5 filer | Identifying Information on page 1 Schedule G Schedule H Schedule I Separate Schedule J |
