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.

IRSExempt Organizations & Benefit Plans (5000 Series)

Official form guide

Form 5471SG1: 5471 (Schedule G-1)

Form 5471 Schedule G-1 reports the earnings, profits, and cash flow of a Controlled Foreign Corporation (CFC) for the shareholder's U.S. tax return. File it when you are a U.S. person who owns at least 10% of a foreign corporation that is a CFC.

Fillable formOpen in Editor->Download blank PDF

Need help with Form 5471SG1?

Open it in the AI Editor for field guidance, checks, and PDF export.

Fillable formOpen in Editor->

Form Overview

IRS Form 5471SG1 - 5471 (Schedule G-1)

Form 5471 Schedule G-1 reports the earnings, profits, and cash flow of a Controlled Foreign Corporation (CFC) for the shareholder's U.S. tax return. File it when you are a U.S. person who owns at least 10% of a foreign corporation that is a CFC.

It captures the CFC’s earnings and profits, cash flow, and related adjustments for the tax year.

Risk Radar

Scan points
  • 1An inaccurate G‑1 can cause a $10,000 penalty per year for each CFC.
  • 2Mis‑calculating earnings‑and‑profits
  • 3Using the wrong fiscal year for the CFC
  • 4Omitting foreign cash‑flow adjustments
  • 5Transposing numbers between worksheets

Plain English

If you own a significant piece of a foreign company that the IRS calls a Controlled Foreign Corporation, you must tell the IRS how much profit that company made and how much cash it has. This schedule is attached to the big 5471 filing and goes on your U.S. tax return.

Submission Date

  • Filing date: 2024-01-04 22:10:34
  • 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.

Explains confusing fields in plain English
Flags missing signatures, dates, IDs, and attachments
Keeps the PDF ready for editor, send, and proof flows
Open AI workspace->

Glossary Terms

foreignperson

Hover a term to preview the meaning.

What this form is for

  • Use when you are a U.S. shareholder of a CFC and must report its earnings‑and‑profits.
  • Do not use if you own less than 10% of the foreign corporation.
  • Check Form 5471 Schedule H if you need to report income inclusions from the CFC.

Form selector

Use this form or another form?

You own 10%+ but the foreign corporation is not a CFC

Only required for 25%+ ownership of a foreign corporation that is not a CFC

✓ Verify ownership percentage first

Form 5471 Schedule I

You are a U.S. partnership with multiple CFC shareholders

Partnership reporting of foreign partnerships

✓ Confirm partnership filing requirement

Form 8865

Deadline or filing window

Schedule G‑1 is due when the shareholder’s income tax return is due, generally April 15 for calendar‑year taxpayers, with automatic extensions to October 15 if Form 4868 is filed. If the CFC uses a fiscal year, the filing deadline aligns with the shareholder’s return, not the CFC’s fiscal year end.

  • —Total earnings and profits (E&P) | Sum of net income plus adjustments per instructions | E&P total | Verify all adjustments are included

Checklist

What you need before filling it out

1

Earnings and profits line

Financial statements of CFC · Balance sheet and income statement

⚠ Often omitted foreign tax adjustments✕ High
2

Cash flow line

CFC cash flow statement · Statement of cash flows

⚠ May double‑count cash from related parties✕ Medium
3

Fiscal year end

Corporate charter or tax registration · Incorporation documents

⚠ Using U.S. calendar year instead of CFC fiscal year✕ Medium
4

Ownership percentage

Shareholder agreement or stock ledger · Share register

⚠ Mis‑reading 10% threshold✕ High

Before you submit

  1. 1Confirm you own ≥10% of the CFC
  2. 2Use the 2024 Schedule G‑1 version
  3. 3Reconcile CFC’s earnings‑and‑profits with its financial statements
  4. 4Enter totals on the correct lines (E&P, cash flow, adjustments)
  5. 5Check that Schedule G‑1 is attached to Form 5471
  6. 6Ensure Form 5471 is attached to the correct U.S. tax return
  7. 7Verify the return’s filing deadline and any extensions
  8. 8Confirm electronic submission includes Schedule G‑1
  9. 9If mailing, use the correct address for the primary return
  10. 10Retain copies of CFC financial statements for records
  11. 11[object Object]

Field map

Compact field-by-field guide

6 fields

General Info

2 items

Taxpayer Name and TIN

Full legal name and taxpayer identification number (SSN or EIN).

Requiredtext
Address

Current mailing address.

Requiredtext

Details

2 items

Required Information

Complete all applicable sections of this form according to the official IRS instructions.

Requiredtext
Amount (if applicable)

Enter the relevant dollar amount if this form involves tax calculation.

amount

Certification

1 items

Certification Statement

Read and acknowledge any certifications required by this form.

Requiredcheckbox

Signatures

1 items

Signature

Sign and date. Unsigned forms cannot be processed.

Requiredsignature
This compact map shows typical fields for this form type. The AI Editor gives precise field guidance after you open the PDF.

Almost done reviewing the fields?

Fillable formOpen in Editor->
Current form status
IRS

Form 5471 Schedule G‑1 is currently in the 2024 edition. No major revisions have been announced for the 2025 filing year.

What changed or needs a fresh check

  • Edition date: Verify you have the 2024 version of Schedule G‑1
  • Fee: No separate filing fee for Schedule G‑1
  • Mailing address: Use the address for the primary tax return (e.g., Form 1040 mailing address)
  • Electronic filing: Ensure your tax software supports Schedule G‑1 attachment
  • Signature: No separate signature required; sign the main return

Form Preview

Form 5471SG1 page 1

Page 1

Form 5471SG1 page 2

Page 2

Open in AI Editor →

Quick Facts

U.S. shareholders (individuals, corporations, partnerships, trusts) who own 10% or more of a CFC.
It captures the CFC’s earnings and profits, cash flow, and related adjustments for the tax year.
Attach Schedule G-1 to Form 5471 and file it with the shareholder’s annual income tax return (Form 1040, 1120, etc.) by the return’s due date, including extensions.
Submit electronically through the IRS e‑file system when filing the underlying return, or mail the completed return to the address specified for that return type.
Errors can trigger penalties for failure to report foreign income and may lead to an audit of the CFC’s earnings‑and‑profits calculations.
Gather the CFC’s financial statements for the year. Compute earnings and profits using IRS Form 5471 instructions. Fill Schedule G‑1 line‑by‑line, double‑checking totals. Attach to Form 5471 and file with your U.S. tax return.

Downloads

Blank Form 5471SG1↗

Fill Form 5471SG1

AI-powered guidance for every field

Fillable formOpen in Editor->

Free to start / No account required

Ready to get started?

Upload the form or open it in the AI Editor for intelligent guidance

Fillable formOpen in Editor->

Source transparency

Copyright & Licensing - US Government Forms

Independent guide

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.

Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Verify current license terms with the source agency before reuse outside this platform.

Never sign without understanding every clause.

BrieflyGo reviews your contracts in plain English — instantly.

Try for free →