5471 Schedule H Current Earnings and Profits

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Current Earnings and Profits

SCHEDULE H
(Form 5471)
(Rev. December 2021)
Department of the Treasury
Internal Revenue Service

▶

OMB No. 1545-0123

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

Identifying number

Name of person filing Form 5471
Name of foreign corporation

Reference ID number (see instructions)

EIN (if any)

DRAFT AS OF
June 21, 2021
DO NOT FILE

IMPORTANT: Enter the amounts on lines 1 through 5c in functional currency.
1

Current year net income or (loss) per foreign books of account

2

Net adjustments made to line 1 to determine current
earnings and profits according to U.S. financial and tax
Net Additions
Net Subtractions
accounting standards (see instructions):
Capital gains or losses . . . . . . . . . .
2a
Depreciation and amortization . . . . . . . .
2b
Depletion . . . . . . . . . . . . . . .
2c
2d
Investment or incentive allowance . . . . . . .
Charges to statutory reserves . . . . . . . .
2e
Inventory adjustments
. . . . . . . . . .
2f
Income taxes (see Schedule E, Part I, Section 1, line 6,
column (m), and Part III, line 3, column (i)) . . . .
2g
Foreign currency gains or losses . . . . . . .
2h
Other (attach statement) . . . . . . . . . .
2i
Total net additions . . . . . . . . . . . .
3
Total net subtractions . . . . . . . . . . .
4
Current earnings and profits (line 1 plus line 3 minus line 4) . . . . . . . . . . . . .
DASTM gain or (loss) for foreign corporations that use DASTM (see instructions) . . . . . .
Combine lines 5a and 5b and enter the result on line 5c. Then enter on lines 5c(i), 5c(ii), and 5c(iii)(A)
through 5c(iii)(D) the portion of the line 5c amount with respect to the categories of income shown
on those lines . . . . . . . . . . . . . . . . . . . . . . . . . . . .

a
b
c
d
e
f
g
h
i
3
4
5a
b
c

.

.

.

(i) General category (enter amount on applicable Schedule J, Part I,
line 3, column (a)) . . . . . . . . . . . . . . . . .
(ii) Passive category (enter amount on applicable Schedule J, Part I,
line 3, column (a)) . . . . . . . . . . . . . . . . .
(iii) Section 901(j) category:
(A) Enter the country code of the sanctioned country ▶
and enter the line 5c amount with respect to the sanctioned
country on this line 5c(iii)(A) and on the applicable Schedule J,
Part I, line 3, column (a) . . . . . . . . . . . . . .
(B) Enter the country code of the sanctioned country ▶
and enter the line 5c amount with respect to the sanctioned
country on this line 5c(iii)(B) and on the applicable Schedule J,
Part I, line 3, column (a) . . . . . . . . . . . . . .
(C) Enter the country code of the sanctioned country ▶
and enter the line 5c amount with respect to the sanctioned
country on this line 5c(iii)(C) and on the applicable Schedule J,
Part I, line 3, column (a) . . . . . . . . . . . . . .
(D) Enter the country code of the sanctioned country ▶
and enter the line 5c amount with respect to the sanctioned
country on this line 5c(iii)(D) and on the applicable Schedule J,
Part I, line 3, column (a) . . . . . . . . . . . . . .

.

.

.

.

.

.

.

.

.

5a
5b

5c

5c(i)
5c(ii)

5c(iii)(A)

5c(iii)(B)

5c(iii)(C)

5c(iii)(D)
d Current earnings and profits in U.S. dollars (line 5c translated at the average exchange rate, as
defined in section 989(b)(3) and the related regulations (see instructions)) . . . . . . . . .
e Enter exchange rate used for line 5d . . . . . . . . . . . . . . ▶
For Paperwork Reduction Act Notice, see instructions.

1

Cat. No. 71399W

5d

Schedule H (Form 5471) (Rev. 12-2021)