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Form 5471 (Schedule J) Everett Washington: What You Should Know
Apr 28, 2025 — Schedule J of Form 5471 determines the tax liability of a controlled foreign corporation on a quarterly basis. To do so, the taxpayer (CFC) must complete Schedule J of Form 5471 in the following tax year. Form 5471, Determination of the Tax Liability of a Controlled Foreign Corporation; (1) Form 5471; (2) Schedule J; (3) Report for Taxable Years; (4) Tax for Non-Taxable Years; (5) Exceptions. The form tracks each controlled foreign corporation's E&P, based on the year in which it was formed. To determine the E&P of a controlled foreign corporation, Form 5471 requires the following information from the controlled foreign corporation. Schedule J (Form 5471) (Rev. January 2023) — IRS Form 5471, Determination of the Tax Liability of a Controlled Foreign Corporation — — Hundreds of YouTube · Andrew Mitchel · Feb 20, 2022. This requires the information in this table: This table lists all the controlled foreign corporations (“CFC's”) for which the taxpayer has been determined to be the primary shareholder. Source: 2025 IRS Form 5471, E&P by Form 5471, Fractional Holdings of Controlled Foreign Corporations by Holding Period See Table 14-13 on page 1 of the IRS Publication 523, which contains the table. A similar table exists for the non-taxable year. This table records the E&P of the controlled foreign corporation for the taxable year. It is the tax liability of the CFC for the portion of its E&P attributable to the first year in the period from July 1, 2016, to April 25, 2018, but not including any portion of the first taxable year.
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