5471, Schedule P Transfer of Property to a Foreign Corporation

SCHEDULE P
(Form 5471)
(Rev. December 2020)

Previously Taxed Earnings and Profits of U.S. Shareholder
of Certain Foreign Corporations

OMB No. 1545-0123

Attach to Form 5471.
▶ Go to www.irs.gov/Form5471 for instructions and the latest information.
▶

Department of the Treasury
Internal Revenue Service
Name of person filing Form 5471

Identifying number

Name of U.S. shareholder

Identifying number

Name of foreign corporation

a Separate Category (Enter code—see instructions.) . . . . . . . . . . . . . . . . .
b If code 901j is entered on line a, enter the country code for the sanctioned country (see instructions) .

Part I

Reference ID number (see instructions)

EIN (if any)

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Previously Taxed E&P in Functional Currency (see instructions)
(a)
Reclassified section
965(a) PTEP

1a

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Balance at beginning of year (see instructions) .

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b

Beginning balance adjustments (attach statement) .

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c

Adjusted beginning balance (combine lines 1a and 1b)

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2

Reduction for taxes unsuspended under anti-splitter rules

3

Previously taxed E&P attributable to distributions of previously taxed E&P from lower-tier foreign corporation

4

Previously taxed E&P carried over in nonrecognition transaction

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5

Other adjustments (attach statement)

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6

Total previously taxed E&P (combine lines 1c through 5) .

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7

Amounts reclassified to section 959(c)(2) E&P from section 959(c)(3) E&P

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8

Actual distributions of previously taxed E&P .

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9
10

Amounts reclassified to section 959(c)(1) E&P from section 959(c)(2) E&P . . . . . . . . . .
Amounts included as earnings invested in U.S. property and reclassified to section 959(c)(1) E&P (see
instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11

Other adjustments (attach statement)

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12

Balance at beginning of next year (combine lines 6 through 11) .

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For Paperwork Reduction Act Notice, see instructions.

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Cat. No. 49203F

(b)
Reclassified section
965(b) PTEP

(c)
General section
959(c)(1) PTEP

Schedule P (Form 5471) (Rev. 12-2020)

Page 2

Schedule P (Form 5471) (Rev. 12-2020)

Part I

Previously Taxed E&P in Functional Currency (see instructions) (continued)
(d)
Reclassified section
951A PTEP

(e)
Reclassified section
245A(d) PTEP

(f)
Section 965(a) PTEP

(g)
Section 965(b) PTEP

(h)
Section 951A
PTEP

(i)
Section 245A(d)
PTEP

(j)
Section 951(a)(1)(A)
PTEP

(k)
Total

1a
b
c
2
3
4
5
6
7
8
9
10
11
12
Schedule P (Form 5471) (Rev. 12-2020)

Page 3

Schedule P (Form 5471) (Rev. 12-2020)

Part II

Previously Taxed E&P in U.S. Dollars
(a)
Reclassified section
965(a) PTEP

1a

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b

Beginning balance adjustments (attach statement) .

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c

Adjusted beginning balance (combine lines 1a and 1b)

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2
3

Balance at beginning of year (see instructions) .

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Reduction for taxes unsuspended under anti-splitter rules

(b)
Reclassified section
965(b) PTEP

(c)
General section
959(c)(1) PTEP

Previously taxed E&P attributable to distributions of previously taxed E&P from lower-tier foreign
corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

Previously taxed E&P carried over in nonrecognition transaction

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5

Other adjustments (attach statement)

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6

Total previously taxed E&P (combine lines 1c through 5)

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7

Amounts reclassified to section 959(c)(2) E&P from section 959(c)(3) E&P

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8

Actual distributions of previously taxed E&P .

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9

Amounts reclassified to section 959(c)(1) E&P from section 959(c)(2) E&P

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10

Amounts included as earnings invested in U.S. property and reclassified to section 959(c)(1) E&P (see
instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11

Other adjustments (attach statement)

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12

Balance at beginning of next year (combine lines 6 through 11) .

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Schedule P (Form 5471) (Rev. 12-2020)

Page 4

Schedule P (Form 5471) (Rev. 12-2020)

Part II

Previously Taxed E&P in U.S. Dollars (continued)
(d)
Reclassified section
951A PTEP

(e)
Reclassified section
245A(d) PTEP

(f)
Section 965(a) PTEP

(g)
Section 965(b) PTEP

(h)
Section 951A
PTEP

(i)
Section 245A(d)
PTEP

(j)
Section 951(a)(1)(A)
PTEP

(k)
Total

1a
b
c
2
3
4
5
6
7
8
9
10
11
12
Schedule P (Form 5471) (Rev. 12-2020)