Additional Filing Requirements — 1225 Inst 5471 (PDF)

The foreign corporation is a foreign-controlled CFC.
The filer is a U.S. shareholder that does not own stock, within the meaning of section 958(a), in the foreign-controlled CFC.
The filer is not related, using principles of section 954(d)(3), to the foreign-controlled CFC.

See section 8.04 of Rev. Proc. 2019-40, 2019-43 I.R.B. 982 , for additional information.

FSCs. Category 5 filers are not required to file a Form 5471 (in order to satisfy the requirements of section 6038) if the FSC has filed a Form 1120-FSC. See Temporary Regulations section 1.921-1T(b)(3). However, these filers are required to file Form 5471 for an FSC, regardless of whether it has filed Form 1120-FSC, if the filer has inclusions with respect to the FSC under section 951(a) (as described above).

Section 338 election. If a section 338 election is made with respect to a qualified stock purchase of a foreign target corporation for which a Form 5471 must be filed:

A purchaser (or its U.S. shareholder) must attach a copy of Form 8883, Asset Allocation Statement Under Section 338, to the first Form 5471 for the new foreign target corporation (see the Instructions for Form 8883 for details);
A seller (or its U.S. shareholder) must attach a copy of Form 8883 to the last Form 5471 for the old foreign target corporation;
A U.S. shareholder that files a section 338 election on behalf of a foreign purchasing corporation that is a CFC pursuant to Regulations section 1.338-2(e)(3) must attach a copy of Form 8023, Elections Under Section 338 for Corporations Making Qualified Stock Purchases, to the

Instructions for Form 5471 (Rev. 12-2025) 7

Form 5471 filed with respect to the purchasing corporation for the tax year that includes the acquisition date (see the Instructions for Form 8023 for details).

Reportable transaction disclosure statement. If a U.S. shareholder of a CFC is considered to have participated in a reportable transaction under the rules of Regulations section 1.6011-4(c)(3)(i)(G), the shareholder is required to disclose information for each reportable transaction. Form 8886, Reportable Transaction Disclosure Statement, must be filed for each tax year indicated in Regulations section 1.6011-4(c)(3)(i)(G). The following are reportable transactions.

Any listed transaction, which is a transaction that is the same as or substantially similar to one of the types of

Filing Requirements for Categories of Filers*

transactions that the IRS has determined to be a tax avoidance transaction and identified by notice, regulation, or other published guidance as a listed transaction.

Any transaction offered under conditions of confidentiality for which the corporation (or a related party) paid an advisor a fee of at least $250,000.
Certain transactions for which the corporation (or a related party) has contractual protection against disallowance of the tax benefits.
Certain transactions resulting in a loss of at least $10 million in any single year or $20 million in any combination of years.
Any transaction identified by the IRS by notice, regulation, or other published guidance as a “transaction

Required Information	Category of Filer
	Category of Filer	Category of Filer	Category of Filer	Category of Filer	Category of Filer	Category of Filer	Category of Filer	Category of Filer	Category of Filer
	1a	1b	1c	2	3	4	5a	5b	5c
The identifying information on page 1 of Form 5471 above Schedule A; see_Specific Instructions_.
Schedule A
Schedule B, Part I
Schedule B, Part II
Schedules C and F
Separate Schedule E		1	2					1	2
Schedule E-1 (included with separate Schedule E)		1						1
Schedule G
Separate Schedule G-1
Separate Schedule H
Separate Schedule H-1						3	3	3
Schedule I
Separate Schedule I-1
Separate Schedule J
Separate Schedule M
Separate Schedule O, Part I
Separate Schedule O, Part II
Separate Schedule P
Separate Schedule Q
Separate Schedule R
* See also_Additional Filing Requirements_.
1 Schedules E and E-1 are required for anunrelated section 958(a) U.S. shareholder only if the filer claims deemed paid foreign income taxes of the foreign-controlled section 965 SFC or foreign-controlled CFC under section 960 for the filer’s tax year. See Rev. Proc. 2019-40 for more details.
2Related constructive U.S. shareholder only need to complete Schedule E (they can leave Schedule E-1 blank). See Rev. Proc. 2019-40 for more details.
3 Schedule H-1 is required for any U.S. shareholder that is an applicable corporation for corporate alternative minimum tax (CAMT) purposes. See Instructions for Form 4626.

8 Instructions for Form 5471 (Rev. 12-2025)

of interest.” See Notice 2009-55, 2009-31 I.R.B. 170, available at IRS.gov/irb/2009-31_IRB#NOT-2009-55 .

For more information, see Regulations section 1.6011-4. Also, see the Instructions for Form 8886. Penalties. The U.S. shareholder may have to pay a penalty if it is required to disclose a reportable transaction under section 6011 and fails to properly complete and file Form 8886. Penalties may also apply under section 6707A if the U.S. shareholder fails to file Form 8886 with its income tax return, fails to provide a copy of Form 8886 to the Office of Tax Shelter Analysis (OTSA), or files a form that fails to include all the information required (or includes incorrect information). Other penalties, such as an accuracy-related penalty under section 6662A, may also apply. See the Instructions for Form 8886 for details on these and other penalties.

Reportable transactions by material advisors. Material advisors to any reportable transaction must disclose certain information about the reportable transaction by filing Form 8918, Material Advisor Disclosure Statement, with the IRS. For details, see the Instructions for Form 8918.

Reporting other foreign financial assets. If you have other foreign financial assets, you may be required to file Form 8938, Statement of Specified Foreign Financial Assets. However, you are not required to report any items otherwise reported on Form 5471 on that form. See the Instructions for Form 8938 for more information.