Federal Accumulated Earnings and Profits (E&P) of Controlled Foreign Corporation

Accumulated Earnings and Profits (E&P) of Controlled Foreign Corporation
Schedule J (Form 5471) (Rev. December 2020)
SCHEDULE J
(Form 5471)

Accumulated Earnings & Profits (E&P) of Controlled Foreign Corporation

(Rev. December 2020)
Department of the Treasury
Internal Revenue Service

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OMB No. 1545-0123

Attach to Form 5471.

Go to www.irs.gov/Form5471 for instructions and the latest information.
Identifying number

Name of person filing Form 5471
Name of foreign corporation

a Separate Category (Enter code—see instructions.) . . . . . . . . . . . . . . . . .
b If code 901j is entered on line a, enter the country code for the sanctioned country (see instructions) .

Part I

Reference ID number (see instructions)

EIN (if any)

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Accumulated E&P of Controlled Foreign Corporation

Check the box if person filing return does not have all U.S. shareholders’ information to complete an amount in column (e) (see instructions).
Important: Enter amounts in functional currency.

(a)
Post-2017 E&P Not
Previously Taxed
(post-2017 section
959(c)(3) balance)

(b)
Post-1986
Undistributed Earnings
(post-1986 and pre-2018
section 959(c)(3) balance)

(c)
Pre-1987 E&P Not
Previously Taxed
(pre-1987 section
959(c)(3) balance)

(d)
Hovering Deficit and
Deduction for
Suspended Taxes

(e) Previously Taxed E&P (see instructions)
(i) Reclassified section
965(a) PTEP

(ii) Reclassified section
965(b) PTEP

1a Balance at beginning of year (as reported on prior
year Schedule J) . . . . . . . . . . .
b Beginning balance adjustments (attach statement)
c Adjusted beginning balance (combine lines 1a and 1b)
2a Reduction for taxes unsuspended under anti-splitter rules
b Disallowed deduction for taxes suspended under
anti-splitter rules . . . . . . . . . . .
3 Current year E&P (or deficit in E&P) (enter amount
from applicable line 5c of Schedule H) . . . .
4 E&P attributable to distributions of previously taxed
E&P from lower-tier foreign corporation . . .
5a E&P carried over in nonrecognition transaction .
b Reclassify deficit in E&P as hovering deficit after
nonrecognition transaction . . . . . . .
6 Other adjustments (attach statement) . . . .
7 Total current and accumulated E&P (combine lines
1c through 6) . . . . . . . . . . . .
8 Amounts reclassified to section 959(c)(2) E&P from
section 959(c)(3) E&P . . . . . . . . .
9 Actual distributions . . . . . . . . . .
10 Amounts reclassified to section 959(c)(1) E&P from
section 959(c)(2) E&P . . . . . . . . .
11 Amounts included as earnings invested in U.S. property
and reclassified to section 959(c)(1) E&P (see instructions)
12 Other adjustments (attach statement) . . . .
13 Hovering deficit offset of undistributed posttransaction E&P (see instructions) . . . . .
14 Balance at beginning of next year (combine lines 7 through 13)
For Paperwork Reduction Act Notice, see the Instructions for Form 5471.

Cat. No. 21111K

Schedule J (Form 5471) (Rev. 12-2020)

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Schedule J (Form 5471) (Rev. 12-2020)

Part I

Accumulated E&P of Controlled Foreign Corporation (continued)
(e) Previously Taxed E&P (see instructions)
(iii) General section
959(c)(1) PTEP

(iv) Reclassified section 951A PTEP

(v) Reclassified section 245A(d) PTEP

(vi) Section 965(a) PTEP

(vii) Section 965(b) PTEP

1a
b
c
2a
b
3
4
5a
b
6
7
8
9
10
11
12
13
14
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP

(ix) Section 245A(d) PTEP

(x) Section 951(a)(1)(A) PTEP

(f)
Total Section 964(a) E&P
(combine columns (a), (b), (c),
and (e)(i) through (e)(x))

1a
b
c
2a
b
3
4
5a
b
6
7
8
9
10
11
12
13
14
Schedule J (Form 5471) (Rev. 12-2020)

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Schedule J (Form 5471) (Rev. 12-2020)

Part II

Nonpreviously Taxed E&P Subject to Recapture as Subpart F Income (section 952(c)(2))

Important: Enter amounts in functional currency.
1

Balance at beginning of year

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1

2

Additions (amounts subject to future recapture)

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2

3

Subtractions (amounts recaptured in current year)

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3

4

Balance at end of year (combine lines 1 through 3)

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Schedule J (Form 5471) (Rev. 12-2020)