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Official form guide
Form 13424B: 13424-B
IRS Form 13424‑B is a supplemental worksheet used with certain corporate tax filings to report specific foreign‑related transactions. It is filed only when the main return asks for this attachment.
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IRS Form 13424B - 13424-B
IRS Form 13424‑B is a supplemental worksheet used with certain corporate tax filings to report specific foreign‑related transactions. It is filed only when the main return asks for this attachment.
Risk Radar
Scan points- 1A single missing line can cause the entire return to be rejected.
- 2Using the wrong edition year of the form
- 3Leaving required fields blank
- 4Mismatched totals between schedules and the worksheet
- 5Incorrect foreign currency conversion rates
Plain English
Think of Form 13424‑B as a detailed add‑on that tells the IRS about particular cross‑border deals a corporation made during the tax year. You only need it if the primary corporate return (usually Form 1120) specifically requests it.
Submission Date
- Filing date: 2016-08-26 00:00:00
- 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 when the corporate return asks for Form 13424‑B to report foreign transactions.
- Do not use if the corporation has no qualifying foreign activity.
- Check Form 1120 instructions for alternative worksheets if the transaction type differs.
Form selector
Use this form or another form?
Foreign tax credit claim
Provides detailed credit calculations
✓ Verify that the credit is not already reported on 13424‑B
Report of foreign assets
Required for individuals and certain entities
✓ Ensure the entity is not filing 13424‑B for the same assets
Deadline or filing window
The worksheet must be filed with the corporate return by the return’s original due date (generally the 15th day of the fourth month after year‑end) or by the extended due date if an extension was filed. No separate deadline exists.
- —Foreign amount in local currency | Multiply by IRS‑approved rate | USD amount | Use rate from IRS Publication 54 for the tax year
Checklist
What you need before filling it out
Transaction amount
Bank statement or invoice · Transaction records
Date of transaction
Contract or receipt · Source documents
Foreign partner ID
Partnership agreement · Entity records
Tax withheld
Foreign tax statement · Withholding certificate
Currency conversion rate
IRS rate table · Publication 54
Before you submit
- 1Confirm form edition matches tax year
- 2Verify all required fields are completed
- 3Check that totals reconcile with supporting schedules
- 4Ensure proper foreign currency conversion rate is used
- 5Sign and date the form
- 6Attach the form to the corporate return PDF
- 7Use correct IRS mailing address or e‑file attachment point
- 8Retain a copy of the signed worksheet
- 9Record the submission date
- 10If filing by mail, use certified mail with tracking
How to file this form
- 1Gather all foreign transaction documents
- 2Download the correct edition of Form 13424‑B from IRS.gov
- 3Enter amounts, dates, and partner IDs on the worksheet
- 4Calculate USD equivalents using the IRS rate table
- 5Reconcile totals with the corporate return schedules
- 6Sign the form or add electronic signature
- 7Attach to Form 1120 (or other corporate return) and submit
Known limitations
- 1Form instructions provide limited examples; complex transactions may need professional review.
- 2IRS does not publish an online validator for this worksheet.
- 3Currency rates must be taken from the correct IRS publication; other sources are not accepted.
- 4The form does not capture all types of foreign income; additional schedules may be required.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
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Fillable formOpen in Editor->Form 13424‑B is currently active for tax years 2022 onward. No pending revisions have been announced as of the latest IRS notice.
What changed or needs a fresh check
- Edition date matches the tax year of the return
- Fee – none required for this worksheet
- Mailing address – use the address specified in the corporate return instructions
- Electronic filing – attach as PDF in the same submission batch
- Signature line – preparer must sign if not filing electronically
Quick Facts
Downloads
After you file
- 1Keep the signed worksheet and all source documents for at least seven years.
- 2Monitor IRS correspondence for acknowledgment or error notices.
- 3If a notice arrives, compare the cited line to your original entry.
- 4Update internal records with the filed amounts for future reference.
- 5If an extension was used, verify the extension was approved before the deadline.
Sources
- SRCForm 13424‑B title and purposeIRS official form list
- SRCAttachment requirementCorporate return instructions (Form 1120)
- SRCEdition dateIRS PDF header
- SRCNo filing feeIRS fee schedule
- SRCSignature lineForm layout
- SRCMailing addressCorporate return filing address page
- SRCCurrency rate sourceIRS Publication 54
- SRCExtension deadlineIRS Publication 542
- SRCNot found in provided source: specific line‑by‑line instructions
- SRCNot found in provided source: penalty amounts for errors
Common confusion points
Form number vs. worksheet
Users think 13424‑B is a standalone return
→ Verify it is an attachment to the corporate return
Currency conversion date
Some use transaction date, others use year‑end rate
→ Use the rate specified in the form instructions
Signature requirement
Electronic filing sometimes omits it
→ Ensure e‑signature is enabled or attach a signed PDF
When to file
Some think it has a separate deadline
→ File with the main corporate return
Applicable entities
Individuals sometimes try to use it
→ Only corporations with the specific attachment request may file
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- File Form 1542 – Statement of Waiver of Notice of Deficiency
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