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Form 1120-SN: 1120 (Schedule N)
IRS Form 1120-Schedule N is a schedule for corporations with foreign activities. It asks 8 questions about foreign disregarded entities, foreign branches, foreign trusts, foreign financial accounts, extraterritorial income exclusion, and specified domestic entities. Corporations that answer "Yes" must attach applicable forms. One key threshold: foreign financial accounts with combined value over $10,000 require FBAR filing.
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IRS Form 1120-SN - 1120 (Schedule N)
IRS Form 1120-Schedule N is a schedule for corporations with foreign activities. It asks 8 questions about foreign disregarded entities, foreign branches, foreign trusts, foreign financial accounts, extraterritorial income exclusion, and specified domestic entities. Corporations that answer "Yes" must attach applicable forms. One key threshold: foreign financial accounts with combined value over $10,000 require FBAR filing.
Risk Radar
Scan points- 1Missing foreign bank account reporting when value exceeds $10,000.
- 2Answering 'No' to Question 1a when corporation is tax owner of a foreign disregarded entity.
- 3Failing to attach Form 8858 when required by Question 1a.
- 4Not listing foreign country name in Question 6b when 'Yes' is checked.
- 5Not electronically filing FinCEN Form 114 when required by Question 6.
Plain English
This form is a checklist for corporations that do business or have assets in other countries. It asks yes/no questions to see if the corporation needs to file extra forms about foreign companies, trusts, or bank accounts. If you answer "Yes" to any question, you must attach the related forms to your tax return.
Submission Date
- Filing date: 2026-01-05 08:10:41
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when the corporation had assets in or operated a business in a foreign country or U.S. territory during the tax year and answers 'Yes' to any of the 8 questions on page 1.
- Do not use it when the corporation has no foreign operations and answers 'No' to all questions on page 1.
- Check Form 8858 instead when the corporation is the tax owner of a foreign disregarded entity or foreign branch and does not need to file Schedule N for other foreign activities.
Form selector
Use this form or another form?
Corporation owns a foreign disregarded entity or foreign branch directly or indirectly
Required to report FDE/FB; attach to return
✓ Confirm if exception applies and statement in lieu is acceptable
Corporation owns at least 10% interest in foreign partnership
Report foreign partnership interest; attach to return
✓ Verify if partnership is controlled foreign partnership
Corporation claims extraterritorial income exclusion
Claim exclusion; attach for each transaction
✓ Check line 52 total on all Forms 8873
Corporation is a specified domestic entity
Report specified foreign financial assets
✓ See Instructions for Form 8938 for definition
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Question 1a (foreign entity ownership)
Foreign entity details, EIN, country of organization · Corporate records, entity formation documents
Question 1b (number of Forms 8858)
Count of FDEs/FBs · Form 8858 attachments
Question 1c (Forms 8964-TRA)
Number of Forms 8964-TRA · Form 8964-TRA attachments
Question 2 (Forms 8865)
Number of Forms 8865 · Form 8865 attachments
Question 3 (10% interest in foreign partnership)
Partnership interest info, ownership percentage · Partnership agreements, ownership schedules
Question 6 (foreign financial accounts)
FinCEN Form 114 filing info, foreign country name · Bank statements, FBAR records
Question 7 (extraterritorial income exclusion)
Form 8873 and total line 52 · Form 8873
Question 8 (specified domestic entity)
Form 8938 filing requirement · Instructions for Form 8938
Before you submit
- 1Confirm the corporation's name and EIN are entered at the top of Schedule N.
- 2Answer all 8 questions on page 1, checking 'Yes' or 'No' for each.
- 3If 'Yes' to question 1a, attach Form 8858 for each FDE/FB (unless exception applies).
- 4Enter the number of Forms 8858 attached in question 1b.
- 5If 'Yes' to question 1c, enter number of Forms 8964-TRA attached (only for tax years 2025 and 2026).
- 6If 'Yes' to question 2, attach Form 8865 and enter count.
- 7If 'Yes' to question 3, prepare required statement per instructions.
- 8If 'Yes' to question 5, attach Form 3520 if applicable.
- 9If 'Yes' to question 6, enter foreign country name; do not attach FinCEN Form 114.
- 10If 'Yes' to question 7, attach Form 8873 and enter count and total line 52.
- 11If 'Yes' to question 8, attach Form 8938.
- 12Verify the form revision is 2025 and date is 12/11/25.
How to file this form
- 1Determine if the corporation had foreign assets or operations during the tax year.
- 2Answer each question on Schedule N page 1, checking 'Yes' or 'No'.
- 3Attach any required forms (Form 8858, Form 8865, Form 8873, Form 8938, etc.) as indicated by 'Yes' answers.
- 4Complete the main Form 1120 (or applicable variant) with Schedule N attached.
- 5Sign and date the return.
- 6Keep a copy of the return and all attachments for records.
- 7File the return by the due date (including extensions).
- 8Receive proof of filing from IRS (e.g., e-file confirmation or certified mail receipt).
Known limitations
- 1Schedule N is not required if the corporation answers 'No' to all questions on page 1.
- 2Corporations that are not U.S. corporations (e.g., foreign corporations) do not file Form 1120 series, so Schedule N does not apply.
- 3Exceptions apply for certain indirect ownership of FDEs/FBs where Form 8858 may not be required; a statement in lieu may be acceptable.
- 4FinCEN Form 114 is not a tax form and must not be filed with the tax return.
- 5Form 8964-TRA is only applicable for tax years 2025 and 2026.
- 6The extraterritorial income exclusion may have specific transaction requirements; see Form 8873 instructions.
Field map
Compact field-by-field guide
Entity Info
2 items
Full legal name of the corporation and its Employer Identification Number.
Current mailing address and date of incorporation.
Income
3 items
Total revenue from business operations before deducting costs.
Direct costs attributable to producing goods sold by the corporation.
Gross receipts minus cost of goods sold and returns/allowances.
Deductions
1 items
Sum of all business expenses including compensation, rent, interest, taxes, and depreciation.
Tax
2 items
Total income minus total deductions.
Tax calculated on taxable income using the applicable corporate tax rate, minus any credits.
Signatures
1 items
An authorized corporate officer must sign and date the return.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is the 2025 revision of Schedule N (Form 1120), created on 12/11/25. The source directs filers to www.irs.gov/Form1120 for the latest information; no specific changes from prior editions are noted in the source.
What changed or needs a fresh check
- Edition date — confirm the form is the 2025 revision dated 12/11/25
- Fee — not stated in the official source — verify on the agency site
- Mailing address — not stated in the official source — verify on the agency site
- Signature — not stated in the official source — verify on the agency site
- Attachments — confirm all required forms (e.g., Form 8858, Form 8865, Form 8873, Form 8938) are attached as indicated by 'Yes' answers
- Questions — answer all 8 questions on page 1; do not leave any blank
Quick Facts
Downloads
After you file
- 1Retain a copy of the filed return and all attachments for at least 3 years.
- 2If you filed by mail, keep the certified mail receipt as proof of filing.
- 3If you e-filed, save the IRS acknowledgment or confirmation number.
- 4Monitor for any IRS notices or requests for additional information.
- 5If you discover an error, file an amended return using Form 1120-X.
- 6Update your records with the foreign entity details for future tax years.
- 7If you filed Form 8938, ensure compliance with any additional reporting requirements.
Sources
- SRCForm p.1 — Schedule N is attached to Form 1120, 1120-C, 1120-IC-DISC, 1120-L, 1120-PC, 1120-REIT, 1120-RIC, or 1120-S.
- SRCForm p.1 — Question 1a asks about ownership of foreign disregarded entity or foreign branch; if 'Yes', attach Form 8858.
- SRCForm p.2 — Who Must File: corporations with foreign assets or operations may have to file Schedule N.
- SRCForm p.2 — Exception for indirect ownership of FDE/FB where Form 8858 may not be required; statement in lieu must list name, country, EIN.
- SRCForm p.2 — Question 1c applies for tax years 2025 and 2026; enter number of Forms 8964-TRA attached.
- SRCForm p.2 — FinCEN Form 114 is not a tax form and should not be filed with the return.
- SRCForm p.2 — Question 8 requires Form 8938 for specified domestic entities; see Instructions for Form 8938.
- SRCForm p.1 — Extraterritorial income exclusion (question 7) requires Form 8873; enter number and total line 52.
- SRCForm p.1 — OMB No. 1545-0123 and Paperwork Reduction Act notice reference Instructions for Form 1120.
- SRCForm p.2 — Question 5 may require Form 3520 for foreign trust transactions.
Common confusion points
Do I need to file Schedule N if I have no foreign operations?
The form title says 'Foreign Operations' but some questions may still apply if the corporation had assets abroad.
→ Review each question; if all answers are 'No', you do not need to file.
What is a foreign disregarded entity?
The term is technical and defined in Regulations sections 301.7701-2 and 301.7701-3.
→ Check the instructions for Form 8858 for the definition.
When do I attach Form 8858?
Question 1a triggers the requirement.
→ If 'Yes' to 1a, generally attach Form 8858 unless an exception applies.
Can I file FinCEN Form 114 with my tax return?
The form is not a tax form and is filed separately.
→ Do not attach it; file FinCEN Form 114 separately with FinCEN.
What is the extraterritorial income exclusion?
Question 7 asks about it, but the term is not defined on the form.
→ See Form 8873 instructions for details.
Do I need to file Form 8938 if I am a specified domestic entity?
Question 8 asks, but the definition is not on Schedule N.
→ See Instructions for Form 8938 for the definition of specified domestic entity.
What if I own a foreign partnership indirectly?
Question 3 asks about indirect ownership.
→ Consider constructive ownership rules under the Internal Revenue Code.
How many Forms 8964-TRA do I attach?
Question 1c asks for the number, but only for tax years 2025 and 2026.
→ Enter the number of Forms 8964-TRA attached to the entire return.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 1120-X — amended return to correct errors on Schedule N or attached forms.
Questions about IRS Form 1120-SN
What is IRS Form 1120-SN used for?
This form is a checklist for corporations that do business or have assets in other countries. It asks yes/no questions to see if the corporation needs to file extra forms about foreign companies, trusts, or bank accounts. If you answer "Yes" to any question, you must attach the related forms to your tax return.
Who must file IRS Form 1120-SN?
Corporations that, at any time during the tax year, had assets in or operated a business in a foreign country or a U.S. territory may have to file Schedule N.
What information does IRS Form 1120-SN require?
The form collects answers to 8 questions covering foreign disregarded entities, foreign branches, foreign trusts, foreign financial accounts, extraterritorial income exclusion, and specified domestic entity status. It also asks for the number of attached Forms 5471, 8858, 8964-TRA, and 8873.
How do I complete IRS Form 1120-SN?
Complete each yes/no question on page 1. If you answer "Yes" to any question, attach the required forms (e.g., Form 8858, 3520, 8938) and this schedule to the corporation's tax return. Sign and date the Form 1120 as usual.
Do I need to file Schedule N if I have no foreign operations?
The form title says 'Foreign Operations' but some questions may still apply if the corporation had assets abroad. Review each question; if all answers are 'No', you do not need to file.
What is a foreign disregarded entity?
The term is technical and defined in Regulations sections 301.7701-2 and 301.7701-3. Check the instructions for Form 8858 for the definition.
When do I attach Form 8858?
Question 1a triggers the requirement. If 'Yes' to 1a, generally attach Form 8858 unless an exception applies.
Can I file FinCEN Form 114 with my tax return?
The form is not a tax form and is filed separately. Do not attach it; file FinCEN Form 114 separately with FinCEN.
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