1220 Form 5471 (Schedule J) (PDF)

Official source: IRS Forms, Instructions & Publications (https://www.irs.gov/pub/irs-pdf/f5471sj.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

SCHEDULE J (Form 5471) (Rev. December 2020) Department of the Treasury Internal Revenue Service	Accumulated Earnings & Profits (E&P) of Controlled Foreign Corporation ▶ Attach to Form 5471. ▶ Go to www.irs.gov/Form5471 for instructions and the latest information.			OMB No. 1545-0123
Name of person filing Form 5471	Name of person filing Form 5471	Name of person filing Form 5471	Identifying number	Identifying number
Name of foreign corporation	Name of foreign corporation	EIN (if any)	Reference ID number (see instructions)	Reference ID number (see instructions)

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 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.	Important:Enter amounts in functional currency.	Important:Enter amounts in functional currency.	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)	(e)Previously Taxed E&P (see instructions)
Important:Enter amounts in functional currency.	Important:Enter amounts in functional currency.	Important:Enter amounts in functional currency.	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	*(i)* Reclassified section 965(a) PTEP	*(ii)* Reclassified section 965(b) PTEP
1a	1a	1a	Balance at beginning of year (as reported on prior year Schedule J) . . . . . . . . . . .
b	b	b	Beginning balance adjustments (attach statement)
c	c	c	Adjusted beginning balance (combine lines 1a and 1b)
2a	2a	2a	Reduction for taxes unsuspended under anti-splitter rules
b	b	b	Disallowed deduction for taxes suspended under anti-splitter rules . . . . . . . . . . .
3	3	3	Current year E&P (or deficit in E&P) (enter amount from applicable line 5c of Schedule H) . . . .
4	4	4	E&P attributable to distributions of previously taxed E&P from lower-tier foreign corporation . . .
5a	5a	5a	E&P carried over in nonrecognition transaction .
b	b	b	Reclassify deficit in E&P as hovering deficit after nonrecognition transaction . . . . . . .
6	6	6	Other adjustments (attach statement) . . . .
7	7	7	Total current and accumulated E&P (combine lines 1c through 6) . . . . . . . . . . . .
8	8	8	Amounts reclassified to section 959(c)(2) E&P from section 959(c)(3) E&P . . . . . . . . .
9	9	9	Actual distributions . . . . . . . . . .
10	10	10	Amounts reclassified to section 959(c)(1) E&P from section 959(c)(2) E&P . . . . . . . . .
11	11	11	Amounts included as earnings invested in U.S. property and reclassified to section 959(c)(1) E&P (see instructions)
12	12	12	Other adjustments (attach statement) . . . .
13	13	13	Hovering deficit offset of undistributed post- transaction E&P (see instructions) . . . . .
14	14	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)

Schedule J (Form 5471) (Rev. 12-2020) Page 2 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	*(iv)* Reclassified section 951A PTEP	*(v)* Reclassified section 245A(d) PTEP	*(v)* Reclassified section 245A(d) PTEP	*(vi)* Section 965(a) 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)	(e)Previously Taxed E&P (see instructions)	(e)Previously Taxed E&P (see instructions)	(e)Previously Taxed E&P (see instructions)	(e)Previously Taxed E&P (see instructions)	(e)Previously Taxed E&P (see instructions)	(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x))	(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x))
	*(viii)* Section 951A PTEP	*(viii)* Section 951A PTEP	*(ix)* Section 245A(d) PTEP	*(ix)* Section 245A(d) PTEP	*(x)* Section 951(a)(1)(A) PTEP	*(x)* Section 951(a)(1)(A) PTEP	*(x)* Section 951(a)(1)(A) PTEP	*(x)* Section 951(a)(1)(A) PTEP
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)

Schedule J (Form 5471) (Rev. 12-2020) Page 3 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ^▶ 1

2 Additions (amounts subject to future recapture) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ^▶ 2

3 Subtractions (amounts recaptured in current year) . . . . . . . . . . . . . . . . . . . . . . . . . . . . ^▶ 3

4 Balance at end of year (combine lines 1 through 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . ^▶ 4

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