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 8992: 8992
Form 8992, U.S. Shareholder Calculation of Global Intangible Low‑Taxed Income (GILTI), reports a U.S. shareholder’s GILTI inclusion for a tax year. Use it when you own 10% or more of a controlled foreign corporation that generates GILTI.
Need help with Form 8992?
Open it in the AI Editor for field guidance, checks, and PDF export.
Need help? AI Editor guides you through every field of Form 8992.
Start filling →Form Overview
IRS Form 8992 - 8992
Form 8992, U.S. Shareholder Calculation of Global Intangible Low‑Taxed Income (GILTI), reports a U.S. shareholder’s GILTI inclusion for a tax year. Use it when you own 10% or more of a controlled foreign corporation that generates GILTI.
Risk Radar
Scan points- 1A single mis‑calculated GILTI line can trigger a $10,000 penalty per year.
- 2Using the wrong ownership percentage threshold
- 3Mis‑classifying foreign income as tested or excluded
- 4Applying an outdated GILTI tax rate
- 5Omitting a CFC that meets the 10% test
Plain English
If you own a big chunk of a foreign company, the IRS wants to know how much of its low‑taxed profit you must count as U.S. income. Form 8992 is the worksheet that calculates that amount and sends it with your corporate return.
Submission Date
- Filing date: 2025-01-15 22:10:36
- 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 when you own ≥10% of a CFC that generated GILTI.
- Do not use if the foreign corporation is a qualified electing fund (QEF) or a PFIC.
- Check Form 8993 if you need to claim the GILTI deduction.
Form selector
Use this form or another form?
CFC is a PFIC
PFIC reporting differs from GILTI
✓ Verify PFIC status first
You have a high‑taxed CFC
May qualify for high‑tax exception
✓ Confirm effective tax rate
You are an individual shareholder
GILTI passes through to personal return
✓ Use Schedule C for inclusion
Deadline or filing window
Form 8992 is due when the shareholder’s tax return is due, generally March 15 for calendar‑year corporations (or the 15th day of the 3rd month after fiscal year‑end). Extensions push the deadline to the extended return date, but the form must be filed with the extended return.
- —Tested income | Sum of gross income – deductions | Tested income amount | Verify inclusion of all foreign deductions
- —Net deemed tangible income | Tested income – 10% of qualified business asset investment | Net deemed tangible income | Ensure QBAI is correctly calculated
Checklist
What you need before filling it out
Tested income
Foreign corporation’s income statement · Form 8992 line 1
Qualified Business Asset Investment (QBAI)
Balance sheet of CFC · Form 8992 line 4
Foreign tax rate
Country tax treaty or local return · Form 8992 line 5
Ownership percentage
Stock ledger · Form 8992 line 2
Before you submit
- 1All CFCs that meet the 10% test are listed
- 2Tested income and loss totals match source statements
- 3QBAI is calculated using average year‑end assets
- 4GILTI rate applied matches the tax year’s rate
- 5Form totals reconcile with the shareholder’s main return
- 6Attachments are PDF‑combined if filing electronically
- 7Signature block of the main return is present
- 8Deadline date verified against extension status
- 9Form version matches the filing year
- 10No blank lines remain on required sections
How to file this form
- 1Collect each CFC’s year‑end financials and ownership schedule.
- 2Calculate tested income, tested loss, and QBAI for each CFC.
- 3Enter amounts on Form 8992 lines 1‑5 and compute GILTI.
- 4Transfer the GILTI inclusion amount to the appropriate line on the shareholder’s tax return.
- 5Attach Form 8992 to the return (electronic PDF or paper).
- 6Submit the complete return by the due date or approved extension.
- 7Retain all foreign financial statements and calculations for at least three years.
Known limitations
- 1Form does not calculate the GILTI deduction; that requires Form 8993.
- 2Effective foreign tax rates must be calculated manually; the form provides no automatic computation.
- 3Only CFCs meeting the 10% ownership test are covered; other foreign entities require different forms.
- 4Rounding rules are not explicitly stated; IRS guidance must be consulted for precision.
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->Form 8992 is currently in the 2024 edition (rev. January 2024). No filing fee is required, but the form must accompany the shareholder’s tax return.
What changed or needs a fresh check
- Edition date: January 2024 (latest)
- Fee: none
- Mailing address: same as the primary tax return’s address
- Electronic filing: attach as PDF via approved e‑file system
- Signature: no separate signature required if filed with the main return
Quick Facts
Downloads
After you file
- 1Store the signed return and Form 8992 in a secure, indexed folder.
- 2Keep the original foreign financial statements for audit support.
- 3Monitor any IRS notices for GILTI‑related adjustments.
- 4Update the ownership schedule for the next tax year.
- 5Reconcile the GILTI amount with any foreign tax credit claims.
- 6Document any assumptions used in QBAI calculations.
Sources
- SRCIRS Form 8992 instructionsdescription and filing requirement
- SRCIRS Publication 542GILTI overview
- SRCIRS Revenue Procedure 2020‑38GILTI rate updates
- SRCIRS Form 5471ownership and CFC data source
- SRCIRS Form 8993GILTI deduction reference
- SRCIRS e‑file guidelinesattachment rules
- SRCIRS deadline calendarcorporate return due dates
Common confusion points
GILTI vs. high‑tax exception
Different thresholds and calculations
→ Verify the foreign effective tax rate first
QBAI definition
Includes only depreciable tangible assets
→ Exclude intangible assets explicitly
Testing income vs. excluded income
Some foreign income is excluded by law
→ Cross‑check with IRS Publication 54
Ownership percentage timing
Ownership is measured at year‑end
→ Use the latest shareholder list
Rounding of dollar amounts
IRS allows rounding to nearest dollar
→ Apply consistent rounding throughout
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 1040‑X or 1120‑X – amend the return with corrected 8992
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.
Never sign without understanding every clause.
BrieflyGo reviews your contracts in plain English — instantly.