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Form 8848: Consent To Extend the Time To Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c)
IRS Form 8848 is Consent To Extend the Time To Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c). This form is filed by a foreign corporation or domestic transferee corporation, and it allows assessment up to an expiration date.
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IRS Form 8848 - Consent To Extend the Time To Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c)
IRS Form 8848 is Consent To Extend the Time To Assess the Branch Profits Tax Under Regulations Sections 1.884-2(a) and (c). This form is filed by a foreign corporation or domestic transferee corporation, and it allows assessment up to an expiration date.
Risk Radar
Scan points- 1Ensure you check Box A or B correctly; this dictates whether termination or section 381(a) transaction applies.
- 2Filing without checking Box A or B to indicate the reason for Form 8848.
- 3Checking Box B but failing to enter the foreign transferor's name, address, and EIN.
- 4Not entering the correct year of complete termination if Box A is checked.
- 5Failing to attach a copy of the board minutes evidencing authorization when signing.
Plain English
This form lets a company agree with the IRS to delay when they have to pay their Branch Profits Tax. It is used either when a foreign company completely shuts down its U.S. business or when a domestic company takes over assets from a foreign one under a specific transaction. By filing Form 8848, the companies formally consent to these extended assessment terms.
Submission Date
- Filing date: 2017-09-16 08:04:10
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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Glossary Terms
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What this form is for
- Use this form when a foreign corporation has completely terminated all of its U.S. trade or business during the tax year (check Item A).
- Do not use this form if you are filing for a domestic transferee corporation and the transaction is NOT described in section 381(a) (Item B).
- Check Form 2045 instead when completing Item B of Form 8848, as completing that item satisfies the attachment requirement outlined in Regulations section 1.884-2(c)(2)(iii).
Form selector
Use this form or another form?
Filing for a domestic transferee corporation under Section 381(a)
This form is required to extend the assessment time related to that specific transaction.
✓ Check Item B
Filing after timely filing but before extending the deadline
If you file late, use this form on an amended return and write 'Filed pursuant to section 301.9100-2'.
✓ Ensure correct notation on the form
When claiming a credit or refund for tax assessed by this consent
The claim must be filed within 6 months after the period ends for assessing tax established by this consent.
✓ Verify the 6-month window start date
Deadline or filing window
Form 8848 must be filed by the due date of the corporation’s income tax return. If timely filing is missed, the consent can still be executed by filing an amended return within 6 months of the original due date (excluding extensions).
Checklist
What you need before filling it out
Item A (Complete Termination)
Check box in Item A · Form 8848
Item B (Domestic Transferee Corp.)
Check box in Item B · Form 8848
Claim/Refund Period
Within 6 months after the period ends for assessing tax established by this consent · Form 8848, Section 3
Authorization Proof
Copy of minutes of board of directors evidencing authorization · Attached to Form 8848
Amended Return Filing
Write 'Filed pursuant to section 301.9100-2' at the top · Amended Tax Return
Before you submit
- 1Check the box in Item A or B to indicate the reason for filing Form 8848.
- 2If checking Item A, enter the year of complete termination on the form.
- 3Ensure that if Item B is checked, the form was completed by a domestic transferee corporation.
- 4Verify that the undersigned has been authorized by resolution of its board of directors to enter into this agreement.
- 5Attach a copy of the minutes of the board of directors evidencing authorization and terms.
- 6Sign Form 8848 with the Corporate Officer’s Signature, Title, and Date signed.
- 7If an agent signs for the corporation, include a copy of the power of attorney with Form 8848.
How to file this form
- 1Check the appropriate box in Item A (complete termination) or Item B (domestic transferee corporation).
- 2Complete all required fields, including entering the year of complete termination if filing under Item A.
- 3Attach a copy of the corporate board minutes evidencing authorization to sign and agree to the terms.
- 4Sign Form 8848 with the authorized Corporate Officer's Signature, Title, and Date signed.
- 5Attach the fully executed Form 8848 to the corporation's income tax return for the relevant year (or amended return).
- 6If filing an amended return late, write 'Filed pursuant to section 301.9100-2' at the top of Form 8848.
- 7File with the IRS using the address where the original return was submitted.
Known limitations
- 1A claim for credit or refund resulting from this consent must be filed within 6 months after the period ends for assessing tax established by Form 8848.
- 2If a domestic transferee corporation files under item B, completing Item 5 satisfies the requirement to attach Form 2045 outlined in Regulations section 1.884-2(c)(2)(iii).
- 3The deficiency assessment covered by this consent is limited to branch profits tax due relating to the complete termination (item A) or the section 381(a) transaction (item B), including consequential changes.
- 4If a corporation files late, it may still execute the consent by filing an amended return within 6 months of the original due date (excluding extensions).
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.
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Fillable formOpen in Editor->The current edition of IRS Form 8848 is dated September 2017 (Rev. 9-2017). The form directs users to www.irs.gov/Form8848 for the latest information regarding any subsequent developments.
What changed or needs a fresh check
- Edition date — confirm September 2017 (Rev. 9-2017)
- OMB Number — confirm 1545-0123
- Attachment requirement — ensure it is attached to the corporation's income tax return.
- Signature — confirm the form is signed by an authorized corporate officer, including Title and Date signed.
Quick Facts
Downloads
After you file
- 1The consenting taxpayer must retain books or records relating to Form 8848 as long as their contents may become material in the administration of any Internal Revenue law.
- 2A copy of the signed Form 8848 must be kept by the filer.
- 3If filing an amended return, attach Form 8848 and write “Filed pursuant to section 301.9100-2” at the top of the form.
- 4The consent should be attached to the corporation's income tax return for the tax year during which the event occurred.
Sources
- SRCInstructions p.1 — Form 8848 must attach to the corporation's income tax return.
- SRCInstructions p.1 — A foreign corporation files if it completely terminated all of its U.S. trade or business during the tax year (Item A).
- SRCInstructions p.1 — A domestic transferee corporation files if U.S. assets were transferred in a section 381(a) transaction (Item B).
- SRCInstructions p.1 — The consenting taxpayer can claim credit/refund within 6 months after the period ends for assessing tax established by this consent.
- SRCInstructions p.2 — A foreign corporation must file Form 8848 if it completely terminated all of its U.S. trade or business according to Temporary Regulations section 1.884-2T(a) during the tax year.
- SRCInstructions p.2 — A domestic transferee corporation must file Form 8848 if U.S. assets were transferred to it from a foreign corporation in a transaction described in section 381(a), provided the foreign corporation was engaged (or deemed engaged) in a U.S. trade or business immediately prior.
- SRCInstructions p.2 — Form 8848 must be filed on or before the due date prescribed for filing the corporation’s income tax return.
- SRCInstructions p.2 — If filing an amended return late, attach Form 8848 and write “Filed pursuant to section 301.9100-2” at the top of Form 8848.
Common confusion points
Who must file Form 8848 if a foreign corporation is involved?
A foreign corporation must file it if it completely terminated all of its U.S. trade or business during the tax year.
When should a domestic transferee corporation file this form?
It must be filed if U.S. assets were transferred to it from a foreign corporation in a section 381(a) transaction, provided the foreign corporation was engaged (or deemed engaged) in a U.S. trade or business immediately before that transaction.
What is the deadline for filing Form 8848?
It must be filed on or before the due date prescribed for filing the corporation’s income tax return.
What if you missed the original filing deadline?
The corporation can still execute the consent by filing an amended return within 6 months of the original due date (excluding extensions).
What happens to the scope of the tax assessment after filing Form 8848?
Any deficiency assessment covered by this consent will only relate to the specific termination or transaction described in item A or B.
Does signing alone suffice for authorization?
No; the undersigned must be authorized by resolution of its board of directors, and a copy of the minutes evidencing that authorization must be attached.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Filing an amended return (to correct a late submission)
Questions about IRS Form 8848
What is IRS Form 8848 used for?
This form lets a company agree with the IRS to delay when they have to pay their Branch Profits Tax. It is used either when a foreign company completely shuts down its U.S. business or when a domestic company takes over assets from a foreign one under a specific transaction. By filing Form 8848, the companies formally consent to these extended assessment terms.
Who must file IRS Form 8848?
A foreign corporation must file Form 8848 if it completely terminated all of its U.S. trade or business during the tax year. A domestic transferee corporation must file this form if U.S. assets were transferred to it from a foreign corporation in a section 381(a) transaction.
What information does IRS Form 8848 require?
The form requires the name and Employer identification number of the consenting corporation, along with checking box A or B to state the reason for filing. If Box B is checked, the filer must also enter the name, address, and employer identification number of the foreign transferor, as well as the date of transfer.
When is IRS Form 8848 due?
Form 8848 must be filed on or before the due date (including extensions) prescribed for filing the corporation’s income tax return. If timely filing was missed, it can still be executed by filing an amended return within 6 months of the original due date.
Where do I file IRS Form 8848?
The form is attached to the corporation’s income tax return for the year the event occurred. When filed as an amendment, Form 8848 must be attached to the amended return and state “Filed pursuant to section 301.9100-2” at the top.
How do I complete IRS Form 8848?
First, check Box A (complete termination) or Box B (section 381(a) transaction) on Form 8848 and fill in the required details for that scenario. The document must be signed by an authorized Corporate Officer, including a Title and Date signed. Finally, ensure that a copy of the board resolution authorizing the agreement is attached.
What happens if IRS Form 8848 is filed incorrectly?
If the undersigned (the transferee) fails to pay taxes determined due by a foreign transferor, they assume responsibility for those amounts as a transferee within the meaning of section 6901 of the Internal Revenue Code. Failure to file may result in the IRS issuing a notice of deficiency.
Who must file Form 8848 if a foreign corporation is involved?
A foreign corporation must file it if it completely terminated all of its U.S. trade or business during the tax year.
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