Note:

There should not be a TC 971 AC 165 input on the triggering event year module unless, only a portion of the 965(i) deferred liability was triggered resulting in a portion of the 965(i) liability remaining deferred under 965(i), in which case there should be a TC 971 AC 165 for the remaining 965(i) deferral amount.

Follow the table below to verify a TC 971 AC 165:

If

And

Then

There is a TC 971 AC 165 on a non-inclusion year module (i.e., module 201912 or later

Research indicates the amount of the TC 971 AC 165 posted to the reporting year module is incorrect

Research the reporting year, Form 965-A, Part IV, Column (i) and input a new TC 971 AC 165 with the sum of Column (i) in the MISC. field on the reporting year module.

There is a TC 971 AC 165 on a non-inclusion year module (i.e., module 201912 or later)

There is no indication of an intact 965(i) election (i.e., no Form 965-A attached to the reporting year return, or a Form 965-A attached but not reporting an intact 965(i) election, or a Form 965-A reporting a triggering event for the reporting year resulting in the full 965(i) deferral being triggered and assessed

Use CC REQ77/FRM77 to input a TC 972 AC 165 to reverse the erroneous TC 971 AC 165.