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IRSCorporate Tax (1120 Series)

Official form guide

Form 1120-ICD: 1120-IC-DISC

Form 1120‑IC‑D is the corporate income tax return for a Domestic International Sales Corporation (DISC). File it annually to report DISC income, deductions, and the interest charge on undistributed earnings.

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Form Overview

IRS Form 1120-ICD - 1120-IC-DISC

Form 1120‑IC‑D is the corporate income tax return for a Domestic International Sales Corporation (DISC). File it annually to report DISC income, deductions, and the interest charge on undistributed earnings.

It captures gross receipts from export sales, cost of goods sold, deductions, the interest charge on undistributed earnings, and tax liability.

Risk Radar

Scan points
  • 1A single arithmetic error can trigger an interest{charge} penalty that exceeds the tax due.
  • 2Incorrect interest‑charge calculation
  • 3Missing or mismatched export sales documentation
  • 4Using the wrong tax year end date
  • 5Failing to attach required schedules (e.g., Schedule D)

Plain English

A DISC is a special type of U.S. corporation that helps exporters reduce tax on export profits. This form tells the IRS how much profit the DISC earned and how much tax it owes each year.

Submission Date

  • Filing date: 2026-01-29 17:10:43
  • Preparation window: collect IDs, supporting records, and signatures in advance.
  • Final review: verify names, dates, and required fields before submission.

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Glossary Terms

income taxliabilityinterestincomegross

Hover a term to preview the meaning.

What this form is for

  • Use this form when filing a DISC’s annual corporate tax return.
  • Do not use it for a regular C‑corporation or an S‑corporation.
  • If the entity is not a DISC, file the standard Form 1120 or 1120‑S.

Form selector

Use this form or another form?

Non‑DISC corporation

Regular corporate tax return

✓ Verify DISC election status first

Form 1120

S‑corporation with DISC election

Different tax treatment

✓ Confirm election is still valid

Form 1120‑S with Schedule K‑1

Amended DISC return

Correct prior year errors

✓ Attach original 1120‑IC‑D

Form 1120‑X (amended)

Deadline or filing window

The filing deadline is the 15th day of the fourth month after the DISC’s tax year ends (e.g., March 15 for calendar‑year filers). Extensions can be requested using Form 7004, which pushes the deadline six months. If the deadline falls on a weekend or holiday, the due date moves to the next business day.

  • —Undistributed earnings | Apply IRS interest rate × earnings | Interest charge amount | Verify the current IRS rate

Checklist

What you need before filling it out

1

Export sales amount

Sales invoices, customs documents · Export sales ledger

⚠ Often omitted for small shipments✕ High
2

Cost of goods sold

Purchase orders, inventory records · COGS schedule

⚠ Misallocation of expenses✕ Medium
3

Interest charge calculation

IRS interest rate notice · Calculation worksheet

⚠ Using outdated rate✕ High
4

Signature authority

Corporate officer list · Signature line

⚠ Unauthorized signer✕ High
5

Tax year end

Articles of incorporation amendment · Corporate records

⚠ Wrong year used✕ Medium

Before you submit

  1. 1Confirm the form version is the 2024 edition
  2. 2Verify the DISC election is still active
  3. 3Check all export sales totals against source documents
  4. 4Re‑calculate the interest charge with the current IRS rate
  5. 5Attach all required schedules (e.g., Schedule D, interest worksheet)
  6. 6Ensure an authorized officer signs and dates the form
  7. 7If mailing, use the correct IRS address and include a cover sheet
  8. 8If e‑filing, confirm the DISC is enrolled and the PIN is valid
  9. 9Retain a copy of the completed return and all attachments
  10. 10Record the filing confirmation number or certified mail receipt

How to file this form

  1. 1Gather export sales, COGS, and prior year DISC records
  2. 2Complete income and deduction sections on Form 1120‑IC‑D
  3. 3Calculate the interest charge using the IRS rate for the filing year
  4. 4Attach required schedules and the interest‑charge worksheet
  5. 5Sign the form as an authorized corporate officer
  6. 6Mail to the IRS address in the instructions or submit via approved e‑file provider
  7. 7Save the mailing receipt or e‑file acknowledgment for your records

Known limitations

  1. 1IRS instructions may be updated after the form’s publication date
  2. 2Interest‑charge rate changes quarterly; the form does not auto‑update
  3. 3Electronic filing is only available to DISC entities enrolled in e‑file
  4. 4The form does not include a built‑in error‑checking tool

Field map

Compact field-by-field guide

9 fields

Entity Info

2 items

Corporation Name and EIN

Full legal name of the corporation and its Employer Identification Number.

Requiredtext
Address and Date Incorporated

Current mailing address and date of incorporation.

Requiredtext

Income

3 items

Gross Receipts or Sales

Total revenue from business operations before deducting costs.

Requiredamount
Cost of Goods Sold

Direct costs attributable to producing goods sold by the corporation.

amount
Total Income

Gross receipts minus cost of goods sold and returns/allowances.

Requiredamount

Deductions

1 items

Total Deductions

Sum of all business expenses including compensation, rent, interest, taxes, and depreciation.

Requiredamount

Tax

2 items

Taxable Income

Total income minus total deductions.

Requiredamount
Total Tax

Tax calculated on taxable income using the applicable corporate tax rate, minus any credits.

Requiredamount

Signatures

1 items

Officer Signature

An authorized corporate officer must sign and date the return.

Requiredsignature
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Current form status
IRS

Form 1120‑IC‑D is currently in its 2024 revision, effective for tax years beginning on or after January 1 2024. Check the IRS website for any later updates before filing.

What changed or needs a fresh check

  • Edition date: verify the form is the 2024 version
  • Fee: no filing fee for Form 1120‑IC‑D
  • Mailing address: use the address in the 2024 instructions for your state
  • e‑file eligibility: confirm the DISC is enrolled in IRS e‑file
  • Signature line: ensure an authorized officer signs
  • Tax year: confirm the year matches the filing period

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Quick Facts

Only a corporation that has elected DISC status files this form.
It captures gross receipts from export sales, cost of goods sold, deductions, the interest charge on undistributed earnings, and tax liability.
The return is due the 15th day of the fourth month after the DISC’s tax year ends, typically March 15 for calendar‑year filers.
Mail the completed form to the IRS address listed in the instructions for Form 1120‑IC‑D, or file electronically through the IRS e‑file system if the DISC is authorized for e‑filing.
Errors can trigger penalties, cause the DISC to lose its tax‑advantaged status, or result in an incorrect interest charge calculation.
Gather export sales records, cost of goods sold statements, and prior year DISC filings. Complete the income sections, calculate the interest charge using the IRS prescribed rate, and determine tax due. Review the form for arithmetic errors, attach required schedules, and sign. Submit by mail or e‑file before the deadline.

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After you file

  1. 1Keep the filed copy and all supporting documents for at least seven years
  2. 2Monitor for IRS acknowledgment or notice of acceptance
  3. 3Track the interest‑charge payment deadline and pay any balance due
  4. 4Update the corporate records with the filed tax year information
  5. 5If an amendment is needed, prepare Form 1120‑X promptly
  6. 6Review the next year’s export sales forecast to anticipate filing amounts

Sources

  • SRCIRS Form 1120‑IC‑D instructionsdescription of purpose
  • SRCIRS Publication on Domestic International Sales Corporationsfiling deadline
  • SRCIRS e‑file eligibility listelectronic filing note
  • SRCForm 7004extension rules for corporate returns
  • SRCIRS interest rate noticesinterest‑charge calculation
  • SRCNot found in provided source: fee amount (IRS indicates no fee)
  • SRCNot found in provided source: exact mailing address (refer to instructions)

Common confusion points

DISC vs. regular corporation

Many think any exporter uses DISC

→ Verify election status

Interest‑charge rate

Rate changes quarterly

→ Use the rate for the specific filing period

Tax year end

Some DISC use fiscal years

→ Confirm the exact year‑end date on the return

Schedule D requirement

Not all filers need it

→ Attach only if you have capital gains/losses

e‑file eligibility

Assumed all can e‑file

→ Check enrollment status before attempting

Workflow map

Related forms and next steps

1 signals

Before

Form 7004 (extension request) | Used with: Form 1120‑IC‑D | After: Form 1120‑IC‑D filing | If something goes wrong: Form 1120‑X (amended return)

Current

1120-ICD

After

None listed

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Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
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