Schedule R (Form 5471), Distributions From a Foreign Corporation, is an Internal Revenue Service (IRS) schedule that you attach to Form 5471. It lists each distribution made by the foreign corporation, with its description, date and amounts in the corporation's functional currency. On this page you can fill out Schedule R (Form 5471) online on FillingPDF and download or print the completed PDF; the form and its instructions are published by the IRS at www.irs.gov/Form5471.
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What is Schedule R (Form 5471)?
Schedule R (Form 5471), Distributions From a Foreign Corporation, is the IRS schedule attached to Form 5471 on which the person filing that form lists each distribution made by a foreign corporation, with its date and its amounts in the corporation's functional currency.
The schedule opens with two identification blocks. The first asks for the name of the person filing Form 5471 and an identifying number. The second asks for the name of the foreign corporation, its EIN (if any) and a Reference ID number, which the form refers to the instructions for.
Below them is a table with 24 numbered lines. Each line has four columns: (a) Description of distribution, (b) Date of distribution, (c) Amount of distribution in foreign corporation's functional currency, and (d) Amount of E&P distribution in foreign corporation's functional currency.
The form is identified as OMB No. 1545-0123, Cat. No. 73415F, and the revision printed on it is December 2020. It is a schedule of Form 5471 and is not filed on its own: the form says to attach it to Form 5471 and sends you to www.irs.gov/Form5471 for the instructions and the latest information. Because the plain name "Schedule R" is also used for other IRS forms, use the full identifier "Schedule R (Form 5471)" when you look for it.
Who needs to file Schedule R (Form 5471)?
The person filing Form 5471 who needs to report distributions from the foreign corporation attaches this schedule to that form. The first line of the schedule asks for the name of the person filing Form 5471 and an identifying number, and the second block identifies the foreign corporation by name, EIN (if any) and Reference ID number.
The schedule is not a stand-alone form. It says to attach it to Form 5471, so it is completed only together with that form. The printed form does not say which filers must include it or in which situations, and it contains no exclusions or rules about signing for another person. For those questions, use the IRS instructions for Form 5471 at www.irs.gov/Form5471, which the form itself names as the place for instructions.
The table has room for 24 distributions, one per numbered line.
When to file Schedule R (Form 5471)
Schedule R (Form 5471) has no due date of its own: the form says to attach it to Form 5471, so it is completed and submitted whenever that form is. Prepare it at the same time as Form 5471, with the date and amount of each distribution at hand, because column (b) asks for the date of distribution and columns (c) and (d) ask for amounts. For any deadline or extension that applies to Form 5471, check the IRS instructions at www.irs.gov/Form5471.
How to fill out Schedule R (Form 5471)
Enter the name of the filer
At the top, write the name of person filing Form 5471 in the first block.
Enter the identifying number
In the same block, enter the identifying number of the person filing Form 5471.
Enter the foreign corporation's name
In the second block, write the name of foreign corporation, as it appears on Form 5471.
Add the EIN, if any
Enter the corporation's EIN (if any). Leave it for the instructions if the corporation has none and you need to know what to enter.
Enter the Reference ID number
Write the Reference ID number in the box provided. The form says to see the instructions for how it is determined.
Describe each distribution
On each numbered line from 1 to 24, enter a description of the distribution in column (a), one distribution per line.
Enter the date of distribution
In column (b) of the same line, enter the date of distribution.
Enter the distribution amount
In column (c), enter the amount of distribution in the foreign corporation's functional currency.
Enter the E&P distribution amount
In column (d), enter the amount of E&P distribution, also in the foreign corporation's functional currency.
Review, download and attach
Check each line and both blocks, then download or print the completed PDF from FillingPDF and attach it to Form 5471.
How to submit Schedule R (Form 5471)
Schedule R (Form 5471) is submitted as an attachment to Form 5471; the form prints no separate address, portal or appointment rule.
- With Form 5471: attach the completed schedule to Form 5471 and send the package the way you submit Form 5471.
- Instructions: the form directs you to www.irs.gov/Form5471 for the instructions and the latest information, including how Form 5471 itself is filed.
Before you send it, check that the name of the person filing Form 5471 and the identifying number appear at the top. FillingPDF lets you fill out and download the PDF; submission follows the IRS channels that apply to Form 5471.
Common mistakes to avoid
- Filing Schedule R (Form 5471) on its own; the form says to attach it to Form 5471.
- Leaving out the name of person filing Form 5471 or the identifying number in the top block.
- Skipping the Reference ID number in the foreign corporation block; the form refers you to the instructions for it.
- Entering amounts in U.S. dollars when columns (c) and (d) call for the foreign corporation's functional currency.
- Mixing up column (c), the amount of distribution, with column (d), the amount of E&P distribution.
- Omitting the date of distribution in column (b) or the description in column (a) for a listed distribution.
- Relying on the plain name "Schedule R" to find the form; this one is Schedule R (Form 5471), revision December 2020.
Frequently asked questions
What is Schedule R (Form 5471)?
Schedule R (Form 5471), Distributions From a Foreign Corporation, is an IRS schedule attached to Form 5471. It lists the foreign corporation's distributions by description, date, amount and amount of E&P distribution, in the corporation's functional currency.
Is Schedule R (Form 5471) filed by itself?
No. The form says to attach it to Form 5471, so it is submitted with that form. It has no separate address or due date printed on it; use the IRS instructions at www.irs.gov/Form5471 for filing details.
What goes in columns (c) and (d) of Schedule R (Form 5471)?
Column (c) is the amount of distribution and column (d) is the amount of E&P distribution. Both are entered in the foreign corporation's functional currency, as the column headings state, one distribution per numbered line.
How many distributions can I list on Schedule R (Form 5471)?
The table has 24 numbered lines, one distribution per line. Each line has a description in column (a), a date in column (b) and the amounts in columns (c) and (d). The IRS instructions at www.irs.gov/Form5471 cover anything beyond that.
What is the Reference ID number on Schedule R (Form 5471)?
It is a box in the foreign corporation block, next to the EIN (if any). The form marks it as "see instructions," so check the IRS instructions for Form 5471 at www.irs.gov/Form5471 for how to determine it.
Is 5471 Schedule R the same as the other IRS Schedule R?
No. The plain name "Schedule R" is used for other forms. This page covers Schedule R (Form 5471), the schedule attached to Form 5471 for distributions from a foreign corporation, revision December 2020.
Can I fill out Schedule R (Form 5471) online?
Yes, you can fill out the PDF online on FillingPDF and download or print it. FillingPDF is an independent service and does not file the form with the IRS; you submit it with Form 5471 through the IRS channels.
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