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Official form guide
Form 5471-SE: 5471 (Schedule E)
IRS Form 5471 is the Schedule E attachment used to report income, war profits, and excess profits taxes paid or accrued by a foreign corporation. Rev. December 2021; must be attached to Form 5471.
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IRS Form 5471-SE - 5471 (Schedule E)
IRS Form 5471 is the Schedule E attachment used to report income, war profits, and excess profits taxes paid or accrued by a foreign corporation. Rev. December 2021; must be attached to Form 5471.
Risk Radar
Scan points- 1Failing to attach Schedule E‑1 with required U.S. dollar amounts.
- 2Omitting the Separate Category code in line a.
- 3Not entering the sanctioned country code when code 901j is used in line b.
- 4Leaving the treaty country code blank when an RBT code is entered in line c.
- 5Skipping the Part II election question (yes/no) for section 986(a)(1)(D).
Plain English
Schedule E (Form 5471) records foreign taxes that a corporation paid, accrued, or deemed paid so the taxpayer can claim a foreign tax credit. It lists each tax, the amount in local currency, the conversion to U.S. dollars, and any elections. The totals are then reported on the main Form 5471 filing.
Submission Date
- Filing date: 2021-12-28 22:13:33
- 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 reporting income, war profits, and excess profits taxes paid or accrued by a foreign corporation attached to Form 5471.
- Do not use this form when reporting taxes that are not income, war profits, or excess profits taxes paid or accrued by the foreign corporation.
- Check Form 5471 instead when attaching Schedule E to a foreign corporation's return.
Form selector
Use this form or another form?
Foreign corporation has taxes paid that qualify for a foreign tax credit
Schedule E (Part I) reports the taxes to claim the credit
✓ Verify that each tax entry includes the payor, amount, and conversion rate before proceeding
Taxes are disallowed for the foreign tax credit
Schedule E (Part III) records disallowed taxes in functional currency
✓ Ensure disallowed amounts are entered in the correct functional currency columns
Need to report taxes on accumulated earnings and profits
Schedule E-1 captures taxes on accumulated E&P in U.S. dollars
✓ Confirm all amounts are entered in U.S. dollars and columns sum to zero
Deadline or filing window
Not stated in the official source
Checklist
What you need before filling it out
Name of foreign corporation
Corporate charter or registration document · Form header
EIN or Reference ID number
Employer Identification Number notice or reference ID · Form line for EIN/Reference ID
Separate Category code
Category code list from instructions · Part I line a
Part I tax entry (payor, amount, conversion)
Tax payment records, exchange rate tables · Part I columns (a‑l)
Part II election response
Election election document or board resolution · Part II yes/no question
Before you submit
- 1Enter the foreign corporation’s name exactly as it appears on official documents.
- 2Provide the corporation’s EIN or reference ID number.
- 3Enter the correct Separate Category code in line a.
- 4If code 901j is used, enter the sanctioned country code in line b.
- 5If an RBT code is used, enter the treaty country code in line c.
- 6Complete Part I with all taxes paid or accrued, including conversion rates.
- 7Answer the election question in Part II and state the election date if applicable.
- 8Complete Part III for any disallowed taxes, using functional currency amounts.
- 9Enter all Schedule E-1 amounts in U.S. dollars and ensure line 13 balances to zero.
How to file this form
- 1Gather all foreign tax payment documents and exchange rate data.
- 2Fill out Schedule E fields on Form 5471 according to the instructions.
- 3Attach the completed Schedule E (including Schedule E-1) to the main Form 5471.
- 4Mail the assembled package to the IRS address indicated in the form instructions.
- 5Retain a copy of the filed Form 5471 and Schedule E for your records.
Known limitations
- 1The form’s fee is not stated in the official source, so you must verify any required payment on the IRS website.
- 2Mailing address is not provided in the official source; confirm the correct IRS destination before sending any paper filing.
- 3Signature requirements are not described in the official source; ensure you sign the form as required by standard IRS filing procedures.
- 4Edition date reads December 2021, but the official source may be outdated; re‑check the IRS link for any newer revision before filing.
- 5Country codes and Separate Category codes are mentioned but not detailed; consult the IRS instructions for appropriate values.
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.
Almost done reviewing the fields?
Fillable formOpen in Editor->The form is Revision December 2021; the source directs users to www.irs.gov/Form5471 for instructions and the latest information.
What changed or needs a fresh check
- Edition date — confirm the revision reads December 2021
- Fee — Not stated in the official source
- Mailing address — Not stated in the official source
- Signature — Not stated in the official source
- Instructions URL — confirm the link www.irs.gov/Form5471 for latest information
Quick Facts
Downloads
After you file
- 1Attach the completed Schedule E to Form 5471, then file both together with your tax return as instructed by the IRS.
- 2Keep a signed copy of Schedule E for your records, in case the IRS requests supporting documentation later.
- 3Verify the revision date reads December 2021 on your form; if it differs, obtain the current edition before submission.
- 4Visit www.irs.gov/Form5471 to confirm the latest instructions and any updates that might affect filing requirements.
- 5If you file electronically, ensure the Schedule E attachment uploads correctly and appears in the submission confirmation receipt.
Sources
- SRCForm p.1 — Schedule E (Form 5471) (Rev. December 2021) is the official title.
- SRCForm p.1 — Attach to Form 5471.
- SRCForm p.1 — Go to www.irs.gov/Form5471 for instructions and the latest information.
- SRCForm p.1 — OMB No. 1545-0123.
- SRCForm p.2 — Part II Election question appears on page 2.
- SRCForm p.2 — Page 2 includes name of foreign corporation fields.
- SRCForm p.3 — Page 3 repeats separate category fields.
- SRCForm p.3 — Schedule E-1 is referenced for related tax amounts.
Common confusion points
What code do I enter in line a for Separate Category?
The line asks for a code but the form only says 'Enter code—see instructions' without providing the list.
→ Check the Schedule E instructions on www.irs.gov/Form5471 for the correct category code.
Do I need to enter a country code when I use code 901j?
Line b is conditional: it appears only if code 901j is entered on line a.
→ If line a contains 901j, fill line b with the sanctioned country code per the instructions.
When should I fill line c for treaty country code?
Line c is required only if an RBT code is entered on line a, as indicated on the form.
→ Enter the treaty country code on line c only when an RBT code appears in line a.
How do I answer the election question in Part II?
Part II asks whether an election under section 986(a)(1)(D) to translate taxes using the exchange rate on the date of payment has been made, offering Yes/No.
→ Mark Yes or No and, if Yes, provide the election date as shown on the form.
What does column (j) represent for taxes paid?
Column (j) is labeled 'Tax Paid or Accrued (in local currency in which the tax is payable)' on the form.
→ Enter the amount of tax in the foreign currency in column (j).
How is the U.S. dollar amount calculated in column (l)?
The form states that column (l) dollars are obtained by dividing column (j) by column (k) (Conversion Rate to U.S. Dollars).
→ Divide the tax amount in column (j) by the conversion rate in column (k) to obtain column (l).
Workflow map
Related forms and next steps
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After
⚠ If something goes wrong
- Form 5471 instructions – consult the instructions at www.irs.gov/Form5471 for correction guidance.
Questions about IRS Form 5471-SE
What is IRS Form 5471-SE used for?
Schedule E (Form 5471) records foreign taxes that a corporation paid, accrued, or deemed paid so the taxpayer can claim a foreign tax credit. It lists each tax, the amount in local currency, the conversion to U.S. dollars, and any elections. The totals are then reported on the main Form 5471 filing.
What information does IRS Form 5471-SE require?
The form collects the filer’s name and ID, the foreign corporation’s name, EIN, reference ID, Separate Category code, and detailed tax data in Part I, election choices in Part II, disallowed credits in Part III, plus Schedule E‑1 amounts.
How do I complete IRS Form 5471-SE?
Enter the filer’s name, identifying number, and the foreign corporation’s details at the top. Provide the Separate Category code and any required country codes. Complete Part I with each tax payment, conversion rate, and U.S. dollar totals, then answer the election question in Part II and list disallowed credits in Part III. Attach Schedule E‑1, sign the form, and attach it to Form 5471 before filing.
What code do I enter in line a for Separate Category?
The line asks for a code but the form only says 'Enter code—see instructions' without providing the list. Check the Schedule E instructions on www.irs.gov/Form5471 for the correct category code.
Do I need to enter a country code when I use code 901j?
Line b is conditional: it appears only if code 901j is entered on line a. If line a contains 901j, fill line b with the sanctioned country code per the instructions.
When should I fill line c for treaty country code?
Line c is required only if an RBT code is entered on line a, as indicated on the form. Enter the treaty country code on line c only when an RBT code appears in line a.
How do I answer the election question in Part II?
Part II asks whether an election under section 986(a)(1)(D) to translate taxes using the exchange rate on the date of payment has been made, offering Yes/No. Mark Yes or No and, if Yes, provide the election date as shown on the form.
What does column (j) represent for taxes paid?
Column (j) is labeled 'Tax Paid or Accrued (in local currency in which the tax is payable)' on the form. Enter the amount of tax in the foreign currency in column (j).
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