Form 1120-F U.S. Income Tax Return of a Foreign Corporation

Certain 2010 Cash Contributions for Haiti Relief Can Be Deducted As
If Made on December 31, 2009
A new law allows the option of treating certain charitable contributions of money
made after January 11, 2010, and before March 1, 2010, for the relief of victims
in areas affected by the January 12, 2010, earthquake in Haiti as if they were
made on December 31, 2009. Contributions of money include contributions made
by cash, check, money order, credit card, charge card, debit card, or via cell
phone.
The new law was enacted after the 2009 forms, instructions, and publications
had already been printed, so this alert is being added to the electronic version of
certain impacted products.
The contribution must be made to a qualified organization and meet all other
requirements for charitable contribution deductions. However, if the contribution
was made by phone or text message, a telephone bill showing the name of the
donee organization, the date of the contribution, and the amount of the
contribution will satisfy the recordkeeping requirement. Therefore, for example,
for a $10 charitable contribution made by text message that was charged to a
telephone or wireless account, a telecommunications company bill containing this
information satisfies the recordkeeping requirement.

Form

U.S. Income Tax Return of a Foreign Corporation

1120-F

Department of the Treasury
Internal Revenue Service

Use
IRS
label.
Otherwise,
print or
type.

, 2009, and ending

For calendar year 2009, or tax year beginning
 See

2009

separate instructions.

Name

Employer identification number

Number, street, and room or suite no. (see instructions)

Check box(es) if:

City or town, state and ZIP code, or country (see instructions)

A Country of incorporation

Final return

First post-merger return

Amended return

Schedule M-3 attached

Protective return

from the preceding tax year?

is also subject to tax

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Yes

No

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If “Yes,” attach an explanation.

C Date incorporated

I Did the corporation’s method of determining income

change from the preceding tax year? .

D (1) Location of corporation’s primary books and records (city,

province or state, and country)
(2) Principal location of worldwide business

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If “Yes,” attach an explanation.
J Did the corporation file a U.S. income tax return for

the preceding tax year? .

(3) If the corporation maintains an office or place of business in the
United States, check here . . . . . . . . . . . 

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K (1) At any time during the tax year, was the corporation
engaged in a trade or business in the United States?

E If the corporation had an agent in the United States at any time during

the tax year, enter:
(1) Type of agent
(2) Name
(3) Address

(2) If “Yes,” is taxpayer’s trade or business within the
United States solely the result of a section 897
(FIRPTA) sale or disposition? . . . . . .
L At any time during the tax year, did the corporation

have a permanent establishment in the United States
for purposes of any applicable tax treaty between the
United States and a foreign country? . . . . .

See the instructions and enter the corporation’s principal:
(1) Business activity code number 
(2) Business activity 
(3) Product or service 

G Check method of accounting:

Other (specify)

(3)

Initial return

Name or address change

H Did the corporation’s method of accounting change

B Foreign country under whose laws the income reported on this return

F

OMB No. 1545-0126

, 20

(1)

(2)

Cash

If “Yes,” enter the name of the foreign country:
M Did the corporation have any transactions with related parties?

Accrual

If “Yes,” Form 5472 may have to be filed (see instructions).
Enter number of Forms 5472 attached 



Note: Additional information is required on page 2.

Computation of Tax Due or Overpayment
1

Tax from Section I, line 11, page 2.

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5a

Tax from Section II, Schedule J, line 9, page 4 . . .
Tax from Section III (add lines 6 and 10 on page 5) . .
Total tax. Add lines 1 through 3 . . . . . . .
5a
2008 overpayment credited to 2009 . . .

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b 2009 estimated tax payments . . . . .
5b
c Less 2009 refund applied for on Form 4466
5c (
d Combine lines 5a through 5c . . . . . . . . . . . .
e Tax deposited with Form 7004 . . . . . . . . . . . .
f Credit for tax paid on undistributed capital gains (attach Form 2439).

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5d

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5e
5f

g Credit for federal tax on fuels (attach Form 4136). See instructions .
h Refundable credits from Form 3800, line 19c, and Form 8827, line 8c

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5g
5h

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5j
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U.S. income tax paid or withheld at source (add line 12, page 2, and amounts
5i
from Forms 8288-A and 8805 (attach Forms 8288-A and 8805)) . . . . .
Total payments. Add lines 5d through 5i . . . . . . . . . . . . . .
Estimated tax penalty (see instructions). Check if Form 2220 is attached . . . .
Amount owed. If line 5j is smaller than the total of lines 4 and 6, enter amount owed

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Overpayment. If line 5j is larger than the total of lines 4 and 6, enter amount overpaid .
Enter portion of line 8 you want Credited to 2010 estimated tax 

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Refunded 

j

Sign
Here



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9

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
with the preparer shown below
(see instructions)?



Paid
Preparer’s
Use Only

Date

Signature of officer
Preparer’s
signature



Firm’s name (or yours if
self-employed), address,
and ZIP code





For Privacy Act and Paperwork Reduction Act Notice, see instructions.

Yes

Title
Date

Check if selfemployed

No

Preparer’s SSN or PTIN

EIN
Phone no.
Cat. No. 11470I

Form 1120-F (2009)

Page 2

Form 1120-F (2009)

Additional Information (continued from page 1)

V
Yes

N Is the corporation a controlled foreign corporation?
(See section 957(a) for definition.) . . . . . .

At the end of the tax year, did any individual, partnership,
corporation, estate, or trust own, directly or indirectly,
50% or more of the corporation’s voting stock? (See
section 267(c) for rules of attribution.) . . . . . .

No

O Is the corporation a personal service corporation?
(See instructions for definition.) . . . . . . .

Yes

No

If “Yes,” attach a schedule showing the name and
identifying number. (Do not include any information already
entered in item T.) Enter percentage owned 

P Enter tax-exempt interest received or accrued during
the tax year (see instructions)  $

W

Q At the end of the tax year, did the corporation own, directly or
indirectly, 50% or more of the voting stock of a U.S.
corporation? (See section 267(c) for rules of attribution.) . .
If “Yes,” attach a schedule showing (1) name and EIN of
such U.S. corporation; (2) percentage owned; and (3)
taxable income or (loss) before
NOL and special
deductions of such U.S. corporation for the tax year
ending with or within your tax year.

Is the corporation taking a position on this return that a U.S.
tax treaty overrules or modifies an Internal Revenue law of
the United States, thereby causing a reduction of tax? . .
If “Yes,” the corporation is generally required to complete
and attach Form 8833. See Form 8833 for exceptions.
Note: Failure to disclose a treaty-based return position
may result in a $10,000 penalty (see section 6712).

X

During the tax year, did the corporation own any entity
that was disregarded as an entity separate from its owner
under Regulations sections 301.7701-2 and 301.7701-3?

R If the corporation has an NOL for the tax year and
is electing to forego the carryback period, check
here
. . . . . . . . . . . . 

If “Yes,” attach a statement listing the name, country under whose
laws the entity was organized, and EIN (if any) of each such entity.

S Enter the available NOL carryover from prior tax
years. (Do not reduce it by any deduction on line
30a, page 3.)  $

Y

(1) Did a partnership allocate to the corporation a distributive share
of income from a directly owned partnership interest, any of
which is ECI or treated as ECI by the partnership or the partner?
If “Yes,” attach Schedule P. See instructions.

T Is the corporation a subsidiary in a parent-subsidiary
controlled group? . . . . . . . . . . .
If “Yes,” enter the parent corporation’s:
(1) EIN 
(2) Name 

(2) During the tax year, did the corporation own at least a 10%
interest, directly or indirectly, in any foreign partnership?

If “Yes,” see instructions for required attachment.
Z

(1) Has the corporation made any allocation or reallocation
of income based on section 482 and its regulations?
(2) Has the corporation recognized any interbranch
amounts? If “Yes,” attach statement (see instructions)

U (1) Is the corporation a dealer under section 475? .
(2) Did the corporation mark to market any securities
or commodities other than in a dealer capacity?

SECTION I— Income From U.S. Sources Not Effectively Connected With the Conduct of a Trade or Business in
the United States—Do not report items properly withheld and reported on Form 1042-S. See instructions.
Include below only income from U.S. sources that is not effectively connected with the conduct of a trade or business in the United States. Do not
report items properly withheld and reported on Form 1042-S. Report only items that (a) are not correctly withheld at source or (b) are not correctly
reported on Form 1042-S. The rate of tax on each item of gross income listed below is 30% (4% for the gross transportation tax) or such lower rate
specified by tax treaty. No deductions are allowed against these types of income. Enter treaty rates where applicable. If the corporation is claiming
a lower treaty rate, also complete item W above. If multiple treaty rates apply to a type of income (e.g., subsidiary and portfolio dividends or
dividends received by disregarded entities), attach a schedule showing the amounts, tax rates, and withholding for each.

Name of treaty country, if any 
(a)
Class of income (see instructions)

(b)
Gross amount

(c)
Rate of tax (%)

(d)
Amount of tax liability

(e)
Amount of U.S. income tax
paid or withheld at the source

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Interest

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Dividends
Rents . .
Royalties .

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Annuities .

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6

Gains from disposal of timber, coal, or
domestic iron ore with a retained economic
interest (attach supporting schedule) . . .

7

Gains from sale or exchange of patents,
copyrights, etc. . . . . . . . . .

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9

Fiduciary distributions (attach supporting schedule)
Gross transportation income (attach Schedule V)

10

Other fixed or determinable annual or periodic
gains, profits, and income . . . . . .

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12

Total. Enter here and on line 1, page 1 . . .
Total. Enter here and include on line 5i, page 1

13

Is the corporation fiscally transparent under the laws of the foreign jurisdiction with respect to any item of income listed above?
If “Yes,” attach a schedule that provides the information requested above with respect to each such item of income.

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Yes
Form

1120-F

No
(2009)

Page 3

Form 1120-F (2009)

SECTION II—Income Effectively Connected With the Conduct of a Trade or Business in the United States (see
instructions)

Deductions (See instructions for limitations on deductions.)

Income

Important: Fill in all applicable lines and schedules. If you need more space, see Assembling the Return in the instructions.
Gross receipts or sales
Cost of goods sold (Schedule A, line 8)

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3
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Gross profit (subtract line 2 from line 1c)
Dividends (Schedule C, line 14)
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8

Interest
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Gross rents .
Gross royalties

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10
11

Capital gain net income (attach Schedule D (Form 1120))
. . .
Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797)
Other income (see instructions—attach schedule) . . . . . .
Total income. Add lines 3 through 10 . . . . . . . . .

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13

Compensation of officers (Schedule E, line 4)
Salaries and wages (less employment credits)

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14
15
16

Repairs and maintenance . . . . . . . . . . . . . . . .
Bad debts (for bad debts over $500,000, attach a list of debtors and amounts)
Rents . . . . . . . . . . . . . . . . . . . . . .

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19

Taxes and licenses . . . . . . .
Interest expense from Schedule I, line 25
Charitable contributions . . . . . .

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22

Depreciation from Form 4562 not claimed on Schedule A or elsewhere on return (attach Form 4562)
Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . .
Advertising
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24
25

Pension, profit-sharing, etc., plans
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Employee benefit programs
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Domestic production activities deduction (attach Form 8903) .

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27

Deductions allocated and apportioned to ECI from Schedule H, line 20 (see instructions) .
Other deductions (attach schedule) . . . . . . . . . . . . . . . .
Total deductions. Add lines 12 through 27 . . . . . . . . . . . . . .

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Taxable income before NOL deduction and special deductions (subtract line 28 from line 11)
30a
Less: a Net operating loss deduction (see instructions) . . . .
30b
b Special deductions (Schedule C, line 15) . . . . . .

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29
30

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c Add lines 30a and 30b .
31

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b Less returns and allowances

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Taxable income or (loss). Subtract line 30c from line 29

Schedule A

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1c
2

c Bal 

1a
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25
26
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28
29






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30c
31

Cost of Goods Sold (see instructions)

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Inventory at beginning of year .

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2
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Purchases
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Cost of labor

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Additional section 263A costs (attach schedule).

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Other costs (attach schedule) .

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4
5

Add lines 1 through 5 . . . . . . . . . . . . . . . . . . . . .
Inventory at end of year
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Cost of goods sold. Subtract line 7 from line 6. Enter here and on Section II, line 2, above

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9a Check all methods used for valuing closing inventory:
(1)
Cost as described in Regulations section 1.471-3
(2)
Lower of cost or market as described in Regulations section 1.471-4

(3)
Other (Specify method used and attach explanation.) 
b Check if there was a writedown of subnormal goods as described in Regulations section 1.471-2(c) . . .
c Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) .

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d If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of closing inventory
computed under LIFO . . . . . . . . . . . . . . . . . . . . . . . . . .
e If property is produced or acquired for resale, do the rules of section 263A apply to the corporation? . . . .
f Was there any change in determining quantities, cost, or valuations between opening and closing inventory? .
If “Yes,” attach explanation.

9d
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Yes
Yes
Form

1120-F

No
No
(2009)

Page 4

Form 1120-F (2009)

SECTION II—Income Effectively Connected With the Conduct of a Trade or Business in the United States
(continued)
Schedule C Dividends and Special Deductions (see instructions)
(a) Dividends received

1

Dividends from less-than-20%-owned domestic corporations (other than
debt-financed stock)
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2

Dividends from 20%-or-more-owned domestic corporations (other than
debt-financed stock)
. . . . . . . . . . . . . . . . .
Dividends on debt-financed stock of domestic and foreign corporations (section 246A)
Dividends on certain preferred stock of less-than-20%-owned public utilities

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4
5
6
7

80
see
instructions

42
48
70
80

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10

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Dividends from foreign corporations not included on lines 3, 6, or 7 .
Foreign dividend gross-up (section 78) . . . . . . . . .

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13

Other dividends . . . . . . . . . . . . . . . . .
Deduction for dividends paid on certain preferred stock of public utilities

14
15

Total dividends. Add lines 1 through 12. Enter here and on line 4, page 3 . .
Total special deductions. Add lines 8 and 13. Enter here and on line 30b, page 3

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IC-DISC and former DISC dividends not included on lines 1, 2, or 3 (section 246(d))

Schedule E

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Compensation of Officers (See instructions for Section II, line 12.)
Note: Complete Schedule E only if total receipts (line 1a plus lines 4 through 10 of Section II) are
$500,000 or more.
(b) Social security
number

(a) Name of officer

Percent of corporation stock
owned
(d) Common (e) Preferred

(c) Percent of
time devoted to
business

1a
b
c
d
e

%
%
%

%
%
%

%
%
%

%
%

%
%

(f) Amount of
compensation

2

Total compensation of officers

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%
%
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3
4

Compensation of officers claimed on Schedule A and elsewhere on this return
Subtract line 3 from line 2. Enter the result here and on line 12, page 3 . . .

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Check if the corporation is a member of a controlled group (attach Schedule O (Form 1120))

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3
4

Income tax. Check if a qualified personal service corporation (see instructions)

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Alternative minimum tax (attach Form 4626) .
Add lines 2 and 3 . . . . . . . .

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Form 8697

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Other (attach schedule)
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Schedule J

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Tax Computation (see instructions)

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5a Foreign tax credit (attach Form 1118)
. . . . .
b General business credit (attach Form 3800) . . . .
c Credit for prior year minimum tax (attach Form 8827) .

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6

(c) Special deductions:
(a)  (b)

70

Dividends on certain preferred stock of 20%-or-more-owned public utilities
Dividends from less-than-20%-owned foreign corporations . . . . .
Dividends from 20%-or-more-owned foreign corporations . . . . .
Total. Add lines 1 through 7. See instructions for limitation . . . . .
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(b) %

d Bond credits from Form 8912 . . . .
Total credits. Add lines 5a through 5d .

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Form 4255

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Form 8611

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Subtract line 6 from line 4 .
Other taxes. Check if from:

9

Form 8866
Form 8902
Total tax. Add lines 7 and 8. Enter here and on line 2, page 1 . .

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2

5b
5c
5d

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Form

1120-F

(2009)

Page 5

Form 1120-F (2009)

SECTION III—Branch Profits Tax and Tax on Excess Interest
Part I—Branch Profits Tax (see instructions)
1

Enter the amount from Section II, line 29 .

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2

Enter total adjustments to line 1 to get effectively connected earnings and profits.
showing the nature and amount of adjustments.) (See instructions.) . . . . .
3 Effectively connected earnings and profits. Combine line 1 and line 2 . . . .
4a Enter U.S. net equity at the end of the current tax year. (Attach required schedule.)
b Enter U.S. net equity at the end of the prior tax year. (Attach required schedule.) .

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(Attach required
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schedule
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3
4a
4b

c Increase in U.S. net equity. If line 4a is greater than or equal to line 4b, subtract line 4b from line 4a. Enter the
result here and skip to line 4e . . . . . . . . . . . . . . . . . . . . . . . .
d Decrease in U.S. net equity. If line 4b is greater than line 4a, subtract line 4a from line 4b . . . . . .

4c
4d

e Non-previously taxed accumulated effectively connected earnings and profits. Enter excess, if any, of
effectively connected earnings and profits for preceding tax years beginning after 1986 over any dividend
equivalent amounts for those tax years . . . . . . . . . . . . . . . . . . . . .

4e

5

Dividend equivalent amount. Subtract line 4c from line 3. If zero or less, enter -0-. If no amount is entered on
line 4c, add the lesser of line 4d or line 4e to line 3 and enter the total here
. . . . . . . . . .

5

6

Branch profits tax. Multiply line 5 by 30% (or lower treaty rate if the corporation is a qualified resident or
otherwise qualifies for treaty benefits). Enter here and include on line 3, page 1. (See instructions.) Also
complete item W on page 2 . . . . . . . . . . . . . . . . . . . . . . . .

6

2

Part II—Tax on Excess Interest (see instructions for this Part and for Schedule I)
7 a Enter the interest from Section II, line 18 .

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7a

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b Enter the inverse of the total amount deferred, capitalized, and disallowed from Schedule I, line 24d (i.e., if
line 24d is negative, enter as a positive number; if line 24d is positive, enter as a negative number)
. . .
c Combine lines 7a and 7b (amount must equal Schedule I, line 23) . . . . . . . . . . . . .
8

7b
7c

Branch Interest (see instructions for definition): Enter the sum of Schedule I, line 9, column (c), and Schedule I, line
22. If the interest paid by the foreign corporation’s U.S. trade or business was increased because 80% or more of
the foreign corporation’s assets are U.S. assets, check this box . . . . . . . . . . . . . . 

9 a Excess interest. Subtract line 8 from line 7c. If zero or less, enter -0-

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9a

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b If the foreign corporation is a bank, enter the excess interest treated as interest on deposits. Otherwise, enter
-0-. (See instructions.) . . . . . . . . . . . . . . . . . . . . . . . . . .
c Subtract line 9b from line 9a . . . . . . . . . . . . . . . . . . . . . . . .
10

9b
9c

Tax on excess interest. Multiply line 9c by 30% or lower treaty rate (if the corporation is a qualified resident
or otherwise qualifies for treaty benefits). (See instructions.) Enter here and include on line 3, page 1. Also
complete item W on page 2 . . . . . . . . . . . . . . . . . . . . . . . .

10

Part III—Additional Information
Yes
11

Is the corporation claiming a reduction in, or exemption from, the branch profits tax due to:
a A complete termination of all U.S. trades or businesses? . . . . . . . . . . .

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b The tax-free liquidation or reorganization of a foreign corporation? .

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c The tax-free incorporation of a U.S. trade or business?

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No

If 11a or 11b applies and the transferee is a domestic corporation, attach Form 8848. If 11c applies, attach the statement required
by Temporary Regulations section 1.884-2T(d)(5).
Form

1120-F

(2009)

Page 6

Form 1120-F (2009)

Note: Check if completing on 

Schedule L

U.S. basis or

Worldwide basis.

Balance Sheets per Books
Beginning of tax year

Assets

(a)

1

Cash

2a
b
3
4

Trade notes and accounts receivable
Less allowance for bad debts . .
Inventories . . . . . . . .
U.S. government obligations . .

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5 Tax-exempt securities (see instructions)
6a Interbranch current assets* . . . .
b Other current non-U.S. assets* . . .
c Other current U.S. assets* . . . .
7 Loans to shareholders . . . . .
8 Mortgage and real estate loans . . .

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9a Other loans and investments—non-U.S.
assets* . . . . . . . . . . . .
b Other loans and investments—U.S. assets* .
10a Buildings and other depreciable assets . .
b Less accumulated depreciation
. . . .

End of tax year
(b)

(c)

(d)

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15
16a
b
17

Other non-current interbranch assets* .
Other non-current non-U.S. assets* .
Other non-current U.S. assets* . . .
Total assets . . . . . . . .
Liabilities

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18

Accounts payable

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11a Depletable assets
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b Less accumulated depletion
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12 Land (net of any amortization) . .
13a Intangible assets (amortizable only)
b Less accumulated amortization
.
14 Assets held in trust . . . . .

19

20
21
22

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Other current liabilities* .
Loans from shareholders

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Mortgages, notes, bonds payable in 1 year or
more:
a Interbranch liabilities*
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b Third-party liabilities* . . . . . . . .

23 Liabilities held in trust . . . .
24 a Other interbranch liabilities* . . .
b Other third-party liabilities* . . .
Equity (see instructions)
25

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Mortgages, notes, bonds payable in less than
1 year:
a Interbranch liabilities*
. . . . . . .
b Third-party liabilities* . . . . . . . .

Capital stock: a Preferred stock
b Common stock

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27

Additional paid-in capital
. . .
Retained earnings—Appropriated* .

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29
30
31

Retained earnings—Unappropriated .
Adjustments to shareholders’ equity* .
Less cost of treasury stock . . . .
Total liabilities and shareholders’ equity

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*Attach schedule—See instructions.

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Form

1120-F

(2009)