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Form 8819: Dollar Election Under Section 985
IRS Form 8819 is used to elect the U.S. dollar as a functional currency for a noncontrolled section 902 corporation or its QBU branch. It must be filed within 180 days after the end of the tax year.
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IRS Form 8819 - Dollar Election Under Section 985
IRS Form 8819 is used to elect the U.S. dollar as a functional currency for a noncontrolled section 902 corporation or its QBU branch. It must be filed within 180 days after the end of the tax year.
Risk Radar
Scan points- 1Ensure all required filers sign Form 8819; attach additional sheets if space is limited.
- 2Filing without specifying the correct functional currency on Line 1 (U.S. dollar).
- 3Omitting the name or address for any shareholder listed on Line 5.
- 4Failing to include the percentage of stock owned in each class for domestic shareholders (Line 5, if applicable).
- 5Not attaching additional sheets when there is insufficient space for all required signatures.
Plain English
This form officially tells the IRS that a company operating in an area with high inflation has chosen the U.S. dollar as its primary currency for accounting purposes. By filing Form 8819, the corporation documents this election to ensure proper tax reporting under Section 985 of the Internal Revenue Code.
Submission Date
- Filing date: 2017-09-16 08:03:56
- 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 a noncontrolled section 902 corporation or its QBU branch elects the U.S. dollar as its functional currency.
- Do not use it when an election is made by the majority domestic corporate shareholders of a noncontrolled section 902 corporation (use line 1b).
- Check Form 8819 instead when you are filing for the Dollar Election Under Section 985.
Form selector
Use this form or another form?
Filing on behalf of a foreign corporation's QBU branch
The election is made by the majority domestic corporate shareholders.
✓ Check line 1b and list the shareholder details.
Election made directly by a noncontrolled section 902 corporation
The company itself is making the functional currency election.
✓ Ensure you complete Line 1a fields accurately.
Filing for an eligible QBU that has a branch
You must list the entity and its specific branch details as an eligible QBU.
✓ Verify the address and identifying number for each listed entity/branch.
Deadline or filing window
The filing window requires submission within 180 days after the end of the tax year for which the dollar election applies. There is no specific extension mentioned in this excerpt, but the requirement is to file by that deadline.
Checklist
What you need before filling it out
Form Purpose
Noncontrolled section 902 corporation operating in a hyperinflationary environment · Form 8819 (Page 2)
Who must file (Corporation election)
An authorized officer or director of the corporation · Form 8819 (Page 2)
When to File
Within 180 days after the end of the tax year for which the dollar election is made · Form 8819 (Page 2)
Filer Type Checkbox
Select 'a' if a noncontrolled section 902 corporation elects; select 'b' if majority shareholders elect. · Form 8819 (Line 1)
Shareholder details (if Line 1a checked)
Name, address, identifying number, and percentage of stock owned in each class for domestic corporate shareholders. · Form 8819 (Page 2)
Related Eligible QBUs
Names, addresses, and identifying numbers of persons/branches related to the corporation who are eligible QBUs. · Form 8819 (Line 4)
Before you submit
- 1Check that you have selected box 'a' or 'b' on Line 1 to indicate who is making the dollar election.
- 2Confirm the tax year entered on Line 1 matches the period for which the election applies.
- 3Verify that all required domestic corporate shareholder details are listed if Line 1a was checked.
- 4Ensure you have completed Line 2 (Corporation/Country info) even if it is the same as the filer above.
- 5Confirm that every eligible QBU or related person is fully detailed on Line 4, using additional sheets if necessary.
- 6Verify that all domestic corporate shareholders notified of the election are listed on Line 5.
- 7Sign and date the form under penalties of perjury.
How to file this form
- 1Complete Lines 1 through 5 with all required company, shareholder, and QBU data.
- 2Attach additional sheets if any section (Lines 2, 3, 4, or 5) requires more space than provided on the main form.
- 3Sign and date the Form 8819 under penalties of perjury.
- 4Mail the completed Form 8819 to Internal Revenue Service P.O. Box 40910, Ogden, UT 84409.
Known limitations
- 1Form 8819 applies to a noncontrolled section 902 corporation operating in a hyperinflationary environment that elects the U.S. dollar as its (or its qualified business unit (QBU) branch’s) functional currency.
- 2If an election is made by majority domestic corporate shareholders of a noncontrolled section 902 corporation, Form 8819 must be filed by each of those shareholders.
- 3The form applies to the corporation itself if it elects the U.S. dollar as its (or its QBU branch’s) functional currency (checked via line 1a).
- 4If a noncontrolled section 902 corporation is making the election, Form 8819 must be filed by an authorized officer or director of that corporation.
Field map
Compact field-by-field guide
Entity Info
1 items
Name and taxpayer ID of the entity claiming the credit.
Credit Info
1 items
Type of credit or incentive being claimed.
Calculation
2 items
The base amount used to calculate the credit.
Calculated credit amount after applying formulas and limitations.
Certification
1 items
Detailed breakdown supporting the credit calculation.
Signatures
1 items
Sign and date the form.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is dated September 2017 (Rev. 9-2017). The form directs users to www.irs.gov/Form8819 for the latest information regarding developments.
What changed or needs a fresh check
- Edition date — confirm the revision date reads September 2017.
- Fee — Not stated in the official source.
- Mailing address — confirm the IRS mailing address is P.O. Box 40910, Ogden, UT 84409.
- Signature — ensure the form includes a signature block under penalties of perjury.
- Tax year — confirm you have entered the correct tax year for which the election is effective on Line 1.
Quick Facts
Downloads
After you file
- 1Retain books or records relating to Form 8819 as long as their contents may become material in the administration of any Internal Revenue law.
- 2The form must be filed within 180 days after the end of the tax year for which the dollar election is made.
- 3If there are multiple required signers, attach additional sheets showing each person's signature, title (if applicable), and date signed; these attachments must be signed under penalties of perjury.
- 4Keep a copy of the completed Form 8819 when filing it with your income tax return.
Sources
- SRCInstructions p.1 — Form 8819 must be filed separately from your income tax return.
- SRCInstructions p.1 — Line 1a applies when a noncontrolled section 902 corporation elects the U.S. dollar as its functional currency.
- SRCInstructions p.1 — If line 1b is checked, you enter details for majority domestic corporate shareholders making the election.
- SRCInstructions p.2 — Form 8819 must be filed by an authorized officer or director if the election is made by a noncontrolled section 902 corporation.
- SRCInstructions p.2 — Form 8819 must be filed by each majority domestic corporate shareholder if the election is on behalf of a noncontrolled section 902 corporation or branch of a noncontrolled foreign corporation.
- SRCInstructions p.2 — The filing deadline is within 180 days after the end of the tax year for which the dollar election is made.
Common confusion points
Who files if the corporation itself is making the election?
An authorized officer or director of the noncontrolled section 902 corporation must file Form 8819.
→ Check line 1a and verify the filer status.
What do I fill out if my company has a P.O. box?
If mail delivery to the street address is uncertain, show the box number instead of the street address on Line 2.
→ Verify the specific address entry instructions on Page 2.
When must this form be submitted?
Form 8819 must be sent within 180 days after the end of the tax year for which the dollar election is made.
→ Confirm the date range against your company's tax year-end.
If I check line 1b, what do I need to list on Line 3?
You must enter the name, address, identifying number, and the percentage of stock owned in each class of stock for each domestic corporate shareholder making the election.
→ Ensure you use the definition from section 902(a) when listing shareholders.
Where do I send it if my company is located somewhere other than Ogden, UT?
Send Form 8819 to P.O. Box 409101 in Ogden, UT 84409.
→ Always include the suite, room, or other unit number after the street address.
What if there isn't enough space for all required signatures?
Attach a separate sheet showing each additional signature, their title (if any), and the date signed; this attachment must be signed under penalties of perjury.
→ Check the bottom of Page 2 for details on the attachment requirements.
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⚠ If something goes wrong
- The instructions direct users to www.irs.gov/Form8819 for the latest information regarding developments.
Questions about IRS Form 8819
What is IRS Form 8819 used for?
This form officially tells the IRS that a company operating in an area with high inflation has chosen the U.S. dollar as its primary currency for accounting purposes. By filing Form 8819, the corporation documents this election to ensure proper tax reporting under Section 985 of the Internal Revenue Code.
Who must file IRS Form 8819?
If the election is made by a noncontrolled section 902 corporation, an authorized officer or director of that corporation must file Form 8819. If the election is made on behalf of a noncontrolled section 902 corporation or branch of a noncontrolled foreign corporation, each majority domestic corporate shareholder must file it.
What information does IRS Form 8819 require?
The form collects details such as the name and address of the entity electing the dollar currency (Line 1), information about related eligible QBUs (Line 4), and specifics for domestic corporate shareholders notified of the election (Line 5).
When is IRS Form 8819 due?
Form 8819 must be filed within 180 days after the end of the tax year for which the dollar election is made.
Where do I file IRS Form 8819?
The form must be sent to the Internal Revenue Service at P.O. Box 40910, Ogden, UT 84409. If a filer has a P.O. box address, that number should be shown instead of the street address on Line 2.
How do I complete IRS Form 8819?
First, fill out the corporation's name, country of organization, and location details on Line 1. Next, populate lines 3, 4, and 5 with required shareholder and QBU information before signing under penalties of perjury. The form must include a Signature, Title (if any), and Date (MM/DD/YYYY) at the bottom.
What happens if IRS Form 8819 is filed incorrectly?
The declaration must be made under penalties of perjury to confirm the information is true, correct, and complete. Failure to file correctly may result in issues with complying with Internal Revenue laws.
Who files if the corporation itself is making the election?
An authorized officer or director of the noncontrolled section 902 corporation must file Form 8819. Check line 1a and verify the filer status.
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