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Form 1120F: U.S. Income Tax Return of a Foreign Corporation
IRS Form 1120-F is the U.S. Income Tax Return of a Foreign Corporation. It reports income, gains, losses, deductions, and credits to figure U.S. tax liability. Foreign corporations use it to claim refunds, transmit Form 8833, and calculate branch profits tax. For returns due in 2026, the minimum late-filing penalty is $525.
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IRS Form 1120F - U.S. Income Tax Return of a Foreign Corporation
IRS Form 1120-F is the U.S. Income Tax Return of a Foreign Corporation. It reports income, gains, losses, deductions, and credits to figure U.S. tax liability. Foreign corporations use it to claim refunds, transmit Form 8833, and calculate branch profits tax. For returns due in 2026, the minimum late-filing penalty is $525.
Risk Radar
Scan points- 1Filing more than 60 days late in 2026 triggers a minimum $525 penalty.
- 2Failing to include Form 8833 when claiming treaty-based return positions
- 3Not paying the full tax due by the filing deadline (including extensions)
- 4Using an outdated revision of Form 1120-F (check revision date 20/25)
- 5Omitting the branch profits tax calculation under section 884
Plain English
This form is for foreign corporations that have income from the United States. It calculates how much U.S. tax they owe, including any extra tax on branch profits. The form can also be used to ask for a refund or to report a treaty-based position.
Submission Date
- Filing date: 2026-01-26 13:10:37
- 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
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What this form is for
- Use this form when a foreign corporation needs to report income, gains, losses, deductions, and credits to figure its U.S. income tax liability, claim a refund, transmit Form 8833, or calculate branch profits tax and tax on excess interest under section 884.
- Do not use it when the foreign corporation qualifies for an exception from filing as described in the instructions (the specific exceptions are not listed in the provided excerpts).
- Check Form 8822-B instead when notifying the IRS of a change of address or responsible party after the return has been filed.
Form selector
Use this form or another form?
Corporation may be subject to alternative minimum tax
Required to compute alternative minimum tax liability
✓ Attach Form 4626 first after page 9 in the assembly order.
Corporation claims general business credit
Used to compute and claim various business credits
✓ Attach Form 3800 after Form 8941 in the assembly order.
Corporation disposes of property that may trigger investment credit recapture
Recapture of investment credit if property disposed of early
✓ Attach Form 4255 after Form 8997 in the assembly order.
Corporation has a qualified small employer health insurance credit
Credit for small employers who provide health insurance
✓ Attach Form 8941 after Form 8978 in the assembly order.
Deadline or filing window
The specific due date for Form 1120-F is not provided in the official source. Extensions may be available, but details are not included in the excerpts.
Checklist
What you need before filling it out
Address line (street address)
Room, suite, or unit number; P.O. box if applicable; C/O if mail in care of third party; foreign address format · Instructions p.12
Treaty-based position question (Item W(1))
Disclosure of treaty position; Form 8833 · Form p.2, Instructions p.2
Election under section 362(e)(2)(C)
Statement in accordance with Regulations section 1.362-4(d)(3) · Instructions p.7
Assembling the return order
Schedules and forms in specified order after page 9 · Instructions p.8
Late filing penalty
5% per month up to 25%; minimum $525 for returns due in 2026 · Instructions p.10
Foreign corporation with income excluded from gross income
Statement showing types and amounts of excluded income · Instructions p.7
Percentage owned (Item W)
Name and identifying number of owners; attribution rules under section 267(c) · Form p.2
Before you submit
- 1Verify the form revision date is '20 25'.
- 2Enter the correct EIN in the space provided.
- 3Check all applicable boxes: initial return, name/address change, final return, etc.
- 4Attach all required schedules and forms: Schedule H, Forms 8833, 8996, 8997 as applicable.
- 5Calculate line 7 (tax due) accurately, including any branch profits tax.
- 6If paying by check, write the EIN, 'Form 1120-F', and the tax period on the check.
- 7Enclose the payment with the return if not filing electronically.
- 8Sign and date the return in the appropriate section.
- 9Keep a complete copy of the return and all attachments for your records.
- 10If filing electronically, confirm the EIN is received and the return is accepted.
How to file this form
- 1Obtain an EIN using Form SS-4 if the corporation does not already have one.
- 2Gather all required information: income, gains, losses, deductions, credits, and details for any attached forms.
- 3Complete Form 1120-F, including all applicable schedules (e.g., Schedule H) and attachments (e.g., Forms 8833, 8996, 8997).
- 4Calculate the total tax due on line 7.
- 5Prepare payment by check or money order payable to 'United States Treasury' with required notations, or set up electronic funds withdrawal if filing electronically.
- 6File the return by the due date (including extensions if applicable).
- 7If filing electronically, submit the return and initiate payment; retain the electronic acknowledgment.
- 8Retain a copy of the filed return and proof of filing (e.g., IRS acceptance or certified mail receipt).
Known limitations
- 1A foreign corporation that qualifies for an exception from filing (as described in the instructions) is not required to file Form 1120-F, but the specific exceptions are not listed in the provided excerpts.
- 2A foreign corporation that is a Qualified Opportunity Fund (QOF) must file Form 1120-F and attach Form 8996 even if one of the exceptions from filing would otherwise apply.
- 3A foreign corporation that held a qualified investment in a QOF must file Form 1120-F with Form 8997 attached, regardless of whether an exception applies.
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 (labeled '20 25'). The instructions direct filers to IRS.gov/Form1120F for future developments. Notable changes include an increased minimum late-filing penalty for returns required to be filed in 2026, now the smaller of the tax due or $525.
What changed or needs a fresh check
- Edition date — confirm the form revision reads '20 25'.
- EIN — enter the corporation's EIN; if applied for but not received, write 'Applied For' and the application date.
- Checkboxes — check all applicable boxes: Initial Return, Name or Address Change, Final Return, First Post-Merger Return, Amended Return, Schedule M-3 Attached, Protective Return.
- Payment — if paying by check, write the EIN, 'Form 1120-F', and the tax period on the check; enclose with the return.
- Signature — the return must be signed by an authorized officer before filing.
Quick Facts
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After you file
- 1Retain a copy of the filed return and all attachments for at least 3 years from the due date or filing date, whichever is later.
- 2If you discover an error, file an amended Form 1120-F only after the original return has been filed.
- 3If the corporation's address or responsible party changes after filing, use Form 8822-B to notify the IRS.
- 4Monitor IRS account for any notices, refunds, or correspondence related to the return.
- 5If payment was made by check, verify that the check was cashed; if by electronic funds withdrawal, confirm the debit.
- 6If filing electronically, keep the electronic acknowledgment as proof of filing.
- 7Respond promptly to any IRS inquiries or requests for additional information.
Sources
- SRCInstructions p.1 — form title, revision year, penalty increase for returns due in 2026.
- SRCInstructions p.2 — purpose of Form 1120-F.
- SRCInstructions p.3 — QOF filing requirements and exceptions from filing.
- SRCInstructions p.7 — Schedule H requirement.
- SRCInstructions p.9 — payment instructions (check, money order, electronic funds withdrawal).
- SRCInstructions p.12 — EIN instructions and checkboxes for initial, final, amended returns.
- SRCInstructions p.12 — use of Form 8822-B for address change after filing.
Common confusion points
Do I need to file Form 1120-F if I have no U.S. trade or business but have U.S. source income?
Yes, if tax liability not fully satisfied by withholding under Chapter 3.
→ Check if withholding covered all tax; if not, file Form 1120-F.
What if I have income exempt under a tax treaty?
Still must file if engaged in U.S. trade or business, even if income is exempt.
→ File Form 1120-F and attach Form 8833 if taking treaty position that overrules U.S. law.
Can I file a protective return?
Yes, if not sure if engaged in U.S. trade or business.
→ File Form 1120-F by the due date to preserve statute of limitations; see Protective Return Filers section.
What is the penalty for not disclosing a treaty-based position?
$10,000 penalty under section 6712.
→ Always answer Item W(1) truthfully and attach Form 8833 unless exception applies.
How do I elect to reduce basis under section 362(e)(2)(C)?
File a statement with the return in accordance with Regulations section 1.362-4(d)(3). Election is irrevocable.
→ Attach the statement to the return; do not complete schedules if income excluded.
In what order should I attach schedules and forms?
After page 9: Form 4626, Schedule D, Form 8949, Form 8996, Form 4136, Form 8978, Form 8941, Form 3800, Form 8997, Form 4255, then alphabetical schedules, numerical forms, then supporting statements.
→ Follow the list on Instructions p.8 exactly.
What if I need to amend Form 1120-F?
File an amended Form 1120-F with corrected amounts; attach supporting schedules/statements with original amount, adjustment, and corrected amount.
→ Include corporation's name and EIN on attachments; see Instructions p.12.
Can I attach an explanation for reasonable cause with my return?
No, do not attach explanation when filing. Wait for penalty notice, then send explanation to IRS.
→ If late, file return without explanation; respond to penalty notice later.
Workflow map
Related forms and next steps
Current
After
Often used with
⚠ If something goes wrong
- Form 1120-F (amended) — file an amended return to correct errors after the original is filed.
Questions about IRS Form 1120F
What is IRS Form 1120F used for?
This form is for foreign corporations that have income from the United States. It calculates how much U.S. tax they owe, including any extra tax on branch profits. The form can also be used to ask for a refund or to report a treaty-based position.
Who must file IRS Form 1120F?
Any foreign corporation that is subject to U.S. income tax must file Form 1120-F. This includes corporations with U.S.-source income or a U.S. trade or business.
What information does IRS Form 1120F require?
The form collects income, gains, losses, deductions, and credits to compute U.S. tax liability. It includes sections for branch profits tax and excess interest under section 884, and can transmit Form 8833 for treaty-based return positions.
How do I complete IRS Form 1120F?
Complete all applicable parts of Form 1120-F, including income, deductions, and credits. Attach required schedules and Form 8833 if claiming treaty benefits. Sign and date the return, and enclose payment if tax is due. Electronic filing is available; a waiver request must be mailed to the Ogden Submission Processing Center.
What happens if IRS Form 1120F is filed incorrectly?
Failure to file on time may result in a penalty of 5% of unpaid tax per month up to 25%, with a minimum penalty of $525 for returns due in 2026 if more than 60 days late. Interest is also charged on late payments.
Do I need to file Form 1120-F if I have no U.S. trade or business but have U.S. source income?
Yes, if tax liability not fully satisfied by withholding under Chapter 3. Check if withholding covered all tax; if not, file Form 1120-F.
What if I have income exempt under a tax treaty?
Still must file if engaged in U.S. trade or business, even if income is exempt. File Form 1120-F and attach Form 8833 if taking treaty position that overrules U.S. law.
Can I file a protective return?
Yes, if not sure if engaged in U.S. trade or business. File Form 1120-F by the due date to preserve statute of limitations; see Protective Return Filers section.
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