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Form 8992-SB: 8992 (Schedule B)
Internal Revenue Service Form 8992 (Schedule B) is used to calculate Global Intangible Low‑Taxed Income (GILTI) for members of a U.S. consolidated group who are U.S. shareholders of a Controlled Foreign Corporation. The schedule reports CFC‑level and shareholder‑level amounts required for the GILTI computation.
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IRS Form 8992-SB - 8992 (Schedule B)
Internal Revenue Service Form 8992 (Schedule B) is used to calculate Global Intangible Low‑Taxed Income (GILTI) for members of a U.S. consolidated group who are U.S. shareholders of a Controlled Foreign Corporation. The schedule reports CFC‑level and shareholder‑level amounts required for the GILTI computation.
Risk Radar
Scan points- 1Leaving any required EIN field blank in Part I will cause the schedule to be rejected.
- 2Omitting the Name of CFC (field a) in Part I
- 3Leaving the CFC EIN or Reference ID (field b) blank in Part I
- 4Failing to enter Tested Income (field e) for a CFC in Part I
- 5Not providing the Pro Rata Share of Tested Income (field g) in Part I
Plain English
Form 8992 Schedule B tells the IRS how much GILTI each U.S. shareholder of a foreign corporation must include in income. It gathers data from each foreign corporation and then aggregates the numbers for the shareholder. The result feeds into the overall GILTI tax calculation.
Submission Date
- Filing date: 2022-12-27 22:12:13
- 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 calculating Global Intangible Low‑Taxed Income (GILTI) for members of a U.S. consolidated group who are U.S. shareholders of a Controlled Foreign Corporation.
- Do not use this form when the filer is not a U.S. shareholder of a CFC or when the filing pertains to a different tax provision.
- Check Form 5471 instead when reporting the CFC's Schedule I‑1 information.
Form selector
Use this form or another form?
Reporting Schedule I‑1 data for a CFC
Provides the Schedule I‑1 amounts needed for Schedule B calculations
✓ Verify Schedule I‑1 is complete before proceeding
Calculating shareholder‑level GILTI allocation
Schedule B contains the shareholder‑level calculations required for the GILTI computation
✓ Confirm the GILTI allocation ratio is entered correctly
Filing the GILTI computation with the corporate tax return
Schedule B must be attached to the corporate return for the reporting year
✓ Ensure the Schedule B is attached to the correct tax return
Deadline or filing window
Not stated in the official source
Checklist
What you need before filling it out
a) Name of CFC
Not stated in the official source · Not stated in the official source
b) EIN or Reference ID
Not stated in the official source · Not stated in the official source
c) Name of U.S. Shareholder
Not stated in the official source · Not stated in the official source
e) Tested Income
Not stated in the official source · Not stated in the official source
i) Pro Rata Share of QBAI
Not stated in the official source · Not stated in the official source
Before you submit
- 1Verify the Name of CFC is entered correctly on line (a).
- 2Confirm the EIN or Reference ID appears accurately on line (b).
- 3Check the Name of U.S. Shareholder and its EIN on lines (c) and (d).
- 4Enter Tested Income and Tested Loss on lines (e) and (f) with correct signs.
- 5Calculate and input Pro Rata Share of Tested Income and Loss on lines (g) and (h).
- 6Review totals on line 1 for accuracy.
- 7Sign the Schedule B where required.
How to file this form
- 1Enter all required CFC‑level data on Schedule B — retain a completed copy.
- 2Perform shareholder‑level calculations and fill Part II — retain calculation worksheets.
- 3Review all totals and ensure they match supporting schedules — retain a reconciliation sheet.
- 4Sign the Schedule B as required — retain the signed page.
- 5Attach Schedule B to the corporate tax return (Form 8992) — retain the combined filing package.
- 6Mail the filing to the IRS as indicated in the instructions — retain mailing receipt as proof of filing.
Known limitations
- 1Form 8992‑SB edition shows Rev. December 2022; verify later revisions because tax forms often update annually, potentially affecting required fields.
- 2Fee amount is not stated in the official source; confirm on the IRS website or instructions before submitting any payment.
- 3Mailing address is not provided in the source; check current IRS filing instructions to ensure you send the schedule to the correct location.
- 4Signature requirement is not mentioned in the source; verify whether the schedule must be signed by the shareholder or authorized representative.
- 5Fields such as fee, mailing address, and signature are absent from the source; anticipate possible updates and re‑check official instructions before filing.
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 form is the December 2022 revision (Rev. December 2022). The source directs filers to www.irs.gov/Form8992 for instructions and the latest information.
What changed or needs a fresh check
- Edition date — confirm the form shows Rev. December 2022
- 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
- 1Retain the signed Schedule B with the corporation’s tax return for at least three years
- 2Keep a copy of the filed Schedule B in the corporate records
- 3Monitor IRS correspondence for an acknowledgment or notice of acceptance
- 4If an error is discovered, file an amended corporate return using Form 1120‑X and attach a corrected Schedule B
Sources
- SRCForm p.1 — schedule headings and field labels listed, no limitations stated
- SRCForm p.2 — continuation of CFC-level fields, no after‑filing steps described
- SRCForm p.3 — U.S. shareholder‑level fields listed, no confusion guidance provided
- SRCForm p.4 — additional shareholder‑level fields, no related forms mentioned
- SRCForm p.1 — no after‑filing actions detailed in the source
- SRCForm p.2 — no related form references beyond Form 5471 in the field list
Common confusion points
What belongs in (a) Name of CFC?
The label is ambiguous between legal name and trade name
→ Verify the exact legal name as shown on the CFC’s Form 1120‑F
What should I enter for (b) EIN or Reference ID?
The form allows either an EIN or an internal reference
→ Use the CFC’s Employer Identification Number if it has one; otherwise enter the reference ID used in your records
How is (g) Pro Rata Share of Tested Income calculated?
The schedule lists the field but does not give the formula
→ Confirm the calculation using the instructions for Form 8992 and the totals from Schedule I‑1
What does (i) Pro Rata Share of QBAI represent?
QBAI stands for Qualified Business Asset Investment, which may be unfamiliar
→ Ensure the amount matches the QBAI reported on the CFC’s Schedule I‑1
Why are there separate sections for Tested Loss and Tested Income?
Both fields appear but the distinction can be confusing
→ Check that loss amounts are entered in (f) Tested Loss and income in (e) Tested Income
How to complete (p) GILTI Allocated to Tested Income CFCs?
The label repeats earlier fields and may cause duplication
→ Use the total GILTI amount calculated in the instructions and enter it here
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 8992 instructions – see www.irs.gov/Form8992 for guidance and troubleshooting
Questions about IRS Form 8992-SB
What is IRS Form 8992-SB used for?
Form 8992 Schedule B tells the IRS how much GILTI each U.S. shareholder of a foreign corporation must include in income. It gathers data from each foreign corporation and then aggregates the numbers for the shareholder. The result feeds into the overall GILTI tax calculation.
Who must file IRS Form 8992-SB?
U.S. shareholders of a Controlled Foreign Corporation that belong to a U.S. consolidated group must file IRS Form 8992 Schedule B.
What information does IRS Form 8992-SB require?
Part I collects CFC‑level data such as the CFC name, EIN, shareholder name, tested income, tested loss, and pro‑rata shares. Part II gathers shareholder‑level totals like aggregate tested income, GILTI allocation ratio, and consolidated QBAI.
How do I complete IRS Form 8992-SB?
Enter each foreign corporation’s information in Part I, including names, EINs, and tested income or loss amounts. Then complete Part II with the U.S. shareholder’s aggregate figures and allocation ratios. Verify the totals in each part before attaching the schedule to the Form 8992 filing.
What belongs in (a) Name of CFC?
The label is ambiguous between legal name and trade name Verify the exact legal name as shown on the CFC’s Form 1120‑F
What should I enter for (b) EIN or Reference ID?
The form allows either an EIN or an internal reference Use the CFC’s Employer Identification Number if it has one; otherwise enter the reference ID used in your records
How is (g) Pro Rata Share of Tested Income calculated?
The schedule lists the field but does not give the formula Confirm the calculation using the instructions for Form 8992 and the totals from Schedule I‑1
What does (i) Pro Rata Share of QBAI represent?
QBAI stands for Qualified Business Asset Investment, which may be unfamiliar Ensure the amount matches the QBAI reported on the CFC’s Schedule I‑1
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