Note:

IRC 965 payments can be identified in IDRS by a TC 670 with a Designated Payment Code (DPC) of 64.

For BMF returns with an IRC 965 inclusion, there will be a CCC J present on BRTVU Response Screen R1 and/or TRBDV Codes Response Screen. Computer Condition Codes may also be viewed on the TXMODA response screen in the Posted Return Information section. For BMF returns with an IRC 965(h) election, there will also be a CCC X that will set a -R freeze to prevent any excess remittance from refunding or offsetting, in the inclusion year only. Although the taxpayer deferred payment of the tax attributable to IRC 965, the deferred amount is still part of the assessed liability for the tax year and must be paid before a refund may be issued on the inclusion year module.

The transaction codes used to administer Section 965(h) elections are listed below. These transaction codes work in tandem with one another to record the 965(h) liability remaining unpaid:

The TC 971 AC 114 represents the Total IRC Section 965 tax amount (minus any amount deferred under 965(i)). This transaction should be present on the inclusion year module and the triggering event year module only.