Caution:

Do not perform an in-module credit transfer if the mis-coded DPC 64 payment has already been manually applied towards the 965 liability, as doing so will double credit the module in the amount of the payment.

The IRC 965 payment posted to a non-inclusion year module without a DPC 64, and the credit is still available (i.e., the payment hasn’t refunded or credit elected in error)

Research indicates there was a Section 965 inclusion/election on a preceding tax period and the liability has not been fully paid

Transfer the 965 payment to the inclusion year module or triggering event year module and post as a TC 670 DPC 64. Once posted, BMF programming will systemically post a TC 767 CRN 263 in the amount of the payment.

When reviewing an account with an IRC Section 965(h) election, review the TC 971 AC 114 and TC 76X CRN 263 amounts to ensure they were entered correctly.

If the TC 971 AC 114 is incorrect, use CC REQ77/FRM77 to input the necessary information as follows in the table below:

FRM77 Field Name

Input

TC>

971

TRANS-DT>

Current Date MMDDYYYY

SECONDARY-DT>

Tax Period Ending Date MMDDYYYY