Independent form guide. BrieflyGo is not affiliated with or endorsed by IRS, USCIS, SSA, DOL, or any U.S. government agency. Official forms are sourced from public government websites.
Official form guide
Form 5471-SR: 5471 (Schedule R)
Internal Revenue Service Form 5471 is Schedule R for reporting distributions from a foreign corporation. It must be attached to Form 5471 and includes fields for description, date, amount, and earnings‑and‑profits of each distribution.
Need help with Form 5471-SR?
Open it in the AI Editor for field guidance, checks, and PDF export.
Need help? AI Editor guides you through every field of Form 5471-SR.
Start filling →Form Overview
IRS Form 5471-SR - 5471 (Schedule R)
Internal Revenue Service Form 5471 is Schedule R for reporting distributions from a foreign corporation. It must be attached to Form 5471 and includes fields for description, date, amount, and earnings‑and‑profits of each distribution.
Risk Radar
Scan points- 1Omitting the earnings‑and‑profits amount for a distribution can trigger penalties.
- 2Filing Schedule R without attaching it to Form 5471
- 3Leaving the description of distribution (column a) blank
- 4Omitting the date of distribution (column b) or using an invalid format
- 5Not entering the amount of distribution in functional currency (column c)
Plain English
Schedule R tells the IRS about any money or property you got from a foreign corporation. You list what was paid, when it was paid, how much in the foreign currency, and how much came from earnings and profits. This information goes on the main Form 5471 filing.
Submission Date
- Filing date: 2020-12-28 22:10:17
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
AI co-pilot
Fill it faster. Catch mistakes before you file.
What this form is for
- Use this form when reporting distributions from a foreign corporation on Schedule R
- Do not use it when reporting ownership percentages or other shareholder information
- Check Form 5471 instead when reporting the shareholder’s ownership details
Form selector
Use this form or another form?
Reporting a foreign corporation's income without distributions
Schedule R is unnecessary because no distribution is reported
✓ Verify that no distribution fields are left blank
Filing a U.S. shareholder's annual return that includes foreign corporation info
Schedule R may be required only if distributions occurred
✓ Confirm presence of distribution data before attaching
Amending a prior year’s foreign corporation return
Schedule R must reflect corrected distribution amounts
✓ Ensure corrected amounts replace prior entries
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Description of distribution (a)
Text description of each distribution · Column (a) on Schedule R
Date of distribution (b)
Calendar date of each distribution · Column (b) on Schedule R
Amount of distribution (c)
Amount in foreign corporation’s functional currency · Column (c) on Schedule R
E&P amount (d)
Earnings‑and‑profits portion in functional currency · Column (d) on Schedule R
Name of person filing Form 5471
Taxpayer’s name as on return · Top section of Schedule R
Before you submit
- 1Enter the filer’s name in the designated field at the top of Schedule R.
- 2Provide the identifying number for the filer.
- 3Enter the foreign corporation’s name and EIN (if any).
- 4List each distribution’s description in column (a).
- 5Enter the distribution date in column (b) using MM/DD/YYYY format.
- 6Record the distribution amount in column (c) in functional currency.
- 7Enter the earnings‑and‑profits amount in column (d).
- 8Verify that all columns (a)‑(d) are completed for every distribution.
- 9Attach Schedule R to the completed Form 5471.
- 10Sign the Form 5471 as required.
- 11Retain a copy of the assembled package for records.
How to file this form
- 1Complete all required fields on Schedule R for each distribution.
- 2Attach the finished Schedule R to Form 5471.
- 3Sign the Form 5471 as indicated.
- 4Mail the signed Form 5471 with attached Schedule R to the IRS and keep the mailing receipt as proof of filing.
Known limitations
- 1You must confirm the form edition reads December 2020, because later revisions may change required fields or instructions.
- 2The official source does not list a filing fee, so you should verify any required payment on the IRS website before submitting.
- 3Because mailing address and signature requirements are not stated, you need to check the current IRS instructions to ensure proper delivery and signing.
- 4Do not file Schedule R alone; attach it to the accompanying Form 5471 as required, otherwise the IRS may reject your submission.
- 5Before finalizing, verify that each distribution line includes description, date, functional‑currency amount, and earnings‑and‑profits, because omissions are common filing errors.
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 the December 2020 edition (12/20). The source directs users to www.irs.gov/Form5471 for the latest information. No changes are described in the source.
What changed or needs a fresh check
- Edition date — confirm the form shows December 2020
- Fee — Not stated in the official source
- Mailing address — Not stated in the official source
- Signature — Not stated in the official source
Quick Facts
Downloads
After you file
- 1Sign the Schedule R before attaching it to Form 5471
- 2Retain a copy of the completed Schedule R with your records for at least three years
- 3Submit the Form 5471 package to the IRS by the original return’s filing deadline, including extensions
- 4Expect an acknowledgment of receipt if filing electronically; otherwise keep mailing receipt
- 5If an error is discovered, file an amended return using Form 1040X
Sources
- SRC[Form p.1] — schedule title is SCHEDULE R (Form 5471) (December 2020).
- SRC[Form p.1] — agency is Department of the Treasury Internal Revenue Service.
- SRC[Form p.1] — purpose is Distributions From a foreign corporation.
- SRC[Form p.1] — must be attached to Form 5471.
- SRC[Form p.1] — directs filers to go to www.irs.gov/Form5471 for instructions and the latest information.
- SRC[Form p.1] — OMB No. is 1545-0123.
- SRC[Form p.1] — required fields include (a) Description of distribution, (b) Date of distribution, (c) Amount of distribution in foreign corporation’s functional currency, (d) Amount of E&P distribution in foreign corporation’s functional currency.
Common confusion points
What currency should I use for the amount?
The form asks for the foreign corporation’s functional currency, not USD.
→ Verify the corporation’s functional currency in its financial statements.
Do I need to report a distribution that is a loan?
Loans are not distributions and the form only captures actual distributions.
→ Exclude loan repayments; use Schedule M if applicable.
How should I format the date?
The form does not specify format, leading to varied entries.
→ Use MM/DD/YYYY as used elsewhere on the return.
Where do I put the EIN if the foreign corporation has none?
The field lists EIN (if any), causing uncertainty.
→ Leave the EIN field blank and note “N/A”.
Can I combine multiple distributions in one line?
Each distribution requires its own row per the column headings.
→ List each distribution on a separate line.
Is the reference ID number optional?
The label says “see instructions” but the source does not define requirement.
→ Include the reference ID if provided by the IRS; otherwise leave blank.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 1040X – amend the return to correct Schedule R errors.
Questions about IRS Form 5471-SR
What is IRS Form 5471-SR used for?
Schedule R tells the IRS about any money or property you got from a foreign corporation. You list what was paid, when it was paid, how much in the foreign currency, and how much came from earnings and profits. This information goes on the main Form 5471 filing.
What information does IRS Form 5471-SR require?
It collects the description of each distribution, the date it was made, the amount in the foreign corporation’s functional currency, and the portion that represents earnings and profits.
How do I complete IRS Form 5471-SR?
Enter each distribution on a separate line, filling columns (a) through (d) with the required details. After completing all lines, attach Schedule R to the accompanying Form 5471 before filing.
What currency should I use for the amount?
The form asks for the foreign corporation’s functional currency, not USD. Verify the corporation’s functional currency in its financial statements.
Do I need to report a distribution that is a loan?
Loans are not distributions and the form only captures actual distributions. Exclude loan repayments; use Schedule M if applicable.
How should I format the date?
The form does not specify format, leading to varied entries. Use MM/DD/YYYY as used elsewhere on the return.
Where do I put the EIN if the foreign corporation has none?
The field lists EIN (if any), causing uncertainty. Leave the EIN field blank and note “N/A”.
Can I combine multiple distributions in one line?
Each distribution requires its own row per the column headings. List each distribution on a separate line.
Source transparency
Copyright & Licensing - US Government Forms
BrieflyGo links to and explains official public form sources. We are not a government agency, and this page is for general form guidance, not legal advice.
Understand the agreement before you sign it.
Review risky clauses in plain English, fix the document, and keep it moving toward signature.