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Federal Exclusion of Income from the International Operation of Ships or Aircraft Under Section 883
Extracted from PDF file 2023-federal-1120-f-schedule-s.pdf, last modified December 2022Exclusion of Income from the International Operation of Ships or Aircraft Under Section 883
SCHEDULE S (Form 1120-F) (Rev. December 2022) Department of the Treasury Internal Revenue Service Name of corporation Part I 1a Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883 Attach to Form 1120-F. Go to www.irs.gov/Form1120F for instructions and the latest information. OMB No. 1545-0123 Employer identification number Qualified Foreign Corporation Enter the name of the qualified foreign country in which the foreign corporation was organized: b Check one (and only one) of the following boxes to indicate the type of equivalent exemption granted by the foreign country listed on line 1a above. Domestic law Exchange of notes Income tax convention c Enter the applicable authority of the equivalent exemption type indicated on line 1b (see instructions): 2 a b c d e f g h Enter the gross income in each of the following categories of qualified income for which the exemption is being claimed. Note: If an amount is not readily determinable, enter a reasonable estimate. If an estimate is used on any of the lines below, check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Income from the carriage of passengers and cargo . . . . . . . . . . . . . . . . . 2a Time or voyage (full) charter income of a ship or wet lease income of an aircraft . . . . . . . . 2b Bareboat charter income of a ship or dry lease income of an aircraft . . . . . . . . . . . 2c Incidental bareboat charter income of a ship or incidental dry lease income of an aircraft . . . . . 2d Incidental container-related income . . . . . . . . . . . . . . . . . . . . . . 2e Income incidental to the international operation of ships or aircraft other than incidental income included on lines 2d and 2e above . . . . . . . . . . . . . . . . . . . . . . . 2f Capital gains derived by a qualified foreign corporation engaged in the international operation of ships or aircraft from the sale, exchange or other disposition of a ship, aircraft, container or related equipment or other moveable property used by that qualified foreign corporation in the international operation of ships or aircraft . . . . . . . . . . . . . . . . . . . . . . . . . 2g Income from participation in a pool, partnership, strategic alliance, joint operating agreement, code-sharing arrangement, international operating agency, or other joint venture described in Regulations section 1.883-1(e)(2) . . . . . . . . . . . . . . . . . . . . . . . 2h Stock ownership test of Regulations section 1.883-1(c)(2): 3 4 5 a Check one (and only one) of the following boxes to indicate the test under which the stock ownership test of Regulations section 1.883-1(c)(2) was satisfied. The publicly-traded test of Regulations section 1.883-2(a). Complete Part II. The CFC stock ownership test of Regulations section 1.883-3(a). Complete Part III. The qualified shareholder stock ownership test of Regulations section 1.883-4(a). Complete Part IV. Check the box if any of the shares of the foreign corporation’s stock or the stock of any direct, indirect, or constructive shareholder are issued in bearer form . . . . . . . . . . . . . . . . . . . . . . . . . . . . If the box on line 4 is checked: Check the box on this line 5a if none of the bearer shares (other than bearer shares maintained in a dematerialized or immobilized book-entry system) were relied on to satisfy any of the stock ownership tests described in Regulations section 1.883-1(c)(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Check the box on this line 5b if any of the bearer shares were maintained in a dematerialized or immobilized book-entry system and were relied on to satisfy any of the stock ownership tests described in Regulations section 1.883-1(c)(2) . . . . . Part II Stock Ownership Test for Publicly-Traded Corporations 6 7 8 Enter the name of the country in which the stock is primarily traded: Enter the name of the securities market(s) on which the stock is listed: Enter a description of each class of stock relied on to meet the “regularly traded test” of Regulations section 1.883-2(d) (see instructions for description requirements): 9 Do one or more 5% shareholders (see instructions for definition) own in the aggregate 50% or moreof the vote and value of the outstanding shares of any class of stock for more than half the number of days during the tax year? . . . Yes No If “Yes,” complete line 10. If “No,” skip line 10. For Paperwork Reduction Act Notice, see the Instructions for Form 1120-F. Cat. No. 50766D Schedule S (Form 1120-F) (Rev. 12-2022) Page 2 Schedule S (Form 1120-F) (Rev. 12-2022) 10 a b For each class of stock relied on to meet the “regularly traded test” of Regulations section 1.883-2(d), indicate: (i) The number of days during the tax year of the corporation in which the class of stock was closely held, without regard to the exception in Regulations section 1.883-2(d)(3)(ii): (ii) The total percentage of the vote and value of the class of stock that was owned by 5% shareholders during such days: % For all qualified shareholders on which the corporation intends to rely to satisfy the closely-held exception test of Regulations section 1.883-2(d)(3)(ii), and who own stock in the closely-held block (directly, indirectly, or by applying the attribution rules of Regulations section 1.883-4(c)), enter: (i) The total number of qualified shareholders, as defined in Regulations section 1.883-4(b)(1): (ii) The total percentage of the value of the shares of the class of stock in the closely-held block of stock owned, directly or indirectly, by such qualified shareholders by country of residence (see instructions): Country code (see instructions) Percentage (iii) The number of days during the tax year of the corporation that such qualified shareholders owned, directly or indirectly, their shares in the closely-held block of stock: Part III Stock Ownership Test for Controlled Foreign Corporations (CFC) 11a Enter the percentage of the value of all outstanding shares of the CFC that is owned by all “qualified U.S. persons” identified in the qualified ownership statements required under Regulations section 1.883-3(c)(2), applying the attribution of ownership rules of Regulations section 1.883-3(b)(4): % b Enter the percentage of the value of all outstanding shares of the CFC that is owned by the “qualified U.S. persons” referred to % on line 11a above as bearer shares maintained in a dematerialized or immobilized book-entry system: Enter the period during which such qualified U.S. persons held such stock (see instructions): 12 13 Enter the period during which the foreign corporation was a CFC (see instructions): 14 Is the CFC directly held by qualified U.S. persons? . Part IV . . . . . . . . . . . . . . . . . . Yes No Qualified Shareholder Stock Ownership Test 15 Check the box if more than 50% of the value of the outstanding shares of the corporation is owned (or treated as owned by reason of Regulations section 1.883-4(c)) by qualified shareholders for each category of income for which the exemption is claimed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 With respect to all qualified shareholders relied on to satisfy the 50% ownership test of Regulations section 1.883-4(a): a Enter the total number of such qualified shareholders as defined in Regulations section 1.883-4(b)(1): b Enter the total percentage of the value of the outstanding shares owned, applying the attribution rules of Regulations section 1.883-4(c), by such qualified shareholders by country of residence or organization, whichever is applicable. Country code (see instructions) Percentage Total c Enter the percentage of the value of the outstanding shares that is owned by the qualified shareholders as bearer shares % maintained in a dematerialized or immobilized book-entry system: d Enter the number of days during the tax year of the foreign corporation that such stock was held by qualified shareholders: Schedule S (Form 1120-F) (Rev. 12-2022)
Schedule S (Form 1120-F) (Rev. December 2022)
More about the Federal 1120-F (Schedule S) Corporate Income Tax TY 2023
We last updated the Exclusion of Income from the International Operation of Ships or Aircraft Under Section 883 in February 2024, so this is the latest version of 1120-F (Schedule S), fully updated for tax year 2023. You can download or print current or past-year PDFs of 1120-F (Schedule S) directly from TaxFormFinder. You can print other Federal tax forms here.
Related Federal Corporate Income Tax Forms:
TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal 1120-F (Schedule S).
| Form Code | Form Name |
|---|---|
| 1120-F (Schedule H) | Deductions Allocated To Effectively Connected Income Under Regulations Section 1.861-8 |
| 1120-F (Schedule I) | Interest Expense Allocation Under Regulations Section 1.882-5 |
| 1120-F (Schedule M-3) | Net Income (Loss) Reconciliation for Foreign Corporations With Reportable Assets of $10 Million or More |
| 1120-F (Schedule P) | List of Foreign Partner Interests in Partnerships |
| 1120-F (Schedule V) | List of Vessels or Aircraft, Operators, and Owners |
| 1120-F Schedules M-1, M-2 | Reconciliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books |
| 1120-FSC (Schedule P) | Transfer Price or Commission |
| Form 1120-F | U.S. Income Tax Return of a Foreign Corporation |
| Form 1120-FSC | U.S. Income Tax Return of a Foreign Sales Corporation |
View all 775 Federal Income Tax Forms
Form Sources:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal 1120-F (Schedule S) from the Internal Revenue Service in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal 1120-F (Schedule S)
We have a total of thirteen past-year versions of 1120-F (Schedule S) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 1120-F (Schedule S)
Schedule S (Form 1120-F) (Rev. December 2022)
2022 1120-F (Schedule S)
Schedule S (Form 1120-F) (Rev. December 2022)
2021 1120-F (Schedule S)
2021 Schedule S (Form 1120-F)
2020 1120-F (Schedule S)
2020 Schedule S (Form 1120-F)
2019 1120-F (Schedule S)
2019 Schedule S (Form 1120-F)
2018 1120-F (Schedule S)
2018 Schedule S (Form 1120-F)
2017 1120-F (Schedule S)
2017 Schedule S (Form 1120-F)
2016 1120-F (Schedule S)
2016 Form 1120-F (Schedule S)
2015 1120-F (Schedule S)
2015 Form 1120-F (Schedule S)
2014 1120-F (Schedule S)
2014 Form 1120-F (Schedule S)
2013 1120-F (Schedule S)
2013 Form 1120-F (Schedule S)
2012 1120-F (Schedule S)
2012 Form 1120-F (Schedule S)
2011 1120-F (Schedule S)
2011 Form 1120-F (Schedule S)
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