4626 Alternative Minimum Tax - Corporations

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Form

4626

Department of the Treasury
Internal Revenue Service

OMB No. XXXX-XXXX

Alternative Minimum Tax—Corporations

Employer identification number

Name

A

2023

Attach to your tax return.
Go to www.irs.gov/Form4626 for instructions and the latest information.

Is the corporation filing this form a member of a controlled group treated as a single employer under
sections 59(k)(1)(D) and 52? . . . . . . . . . . . . . . . . . . . . . . . . . . .
If “Yes,” the corporation must complete Part V listing the names, EINs, and separate company financial
statement income or loss for each member of the controlled group treated as a single employer taken into
account in the determination of “applicable corporation” under section 59(k)(1)(D).
Is the corporation filing this form a member of a foreign-parented multinational group (FPMG) within the
meaning of section 59(k)(2)(B)? . . . . . . . . . . . . . . . . . . . . . . . . . .
If “Yes,” the corporation must complete Part V listing the names, EINs, and separate company financial
statement income or loss for each member of the FPMG under section 59(k)(2)(B).

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B

Part I

Yes

No

Yes

No

Applicable Corporation Determination (Report all amounts in U.S. dollars.)

If you have already determined in current or prior years you are an applicable corporation, skip Part I and continue to Part II.
(a)
(b)
(c)
First Preceding
Year Ended

/

Second Preceding
Year Ended

/

/

Third Preceding
Year Ended

/

/

/

1

Net income or loss per applicable financial statement(s) (AFS) (see
instructions):
a Consolidated net income or loss per the AFS of the corporation .
b Include AFS net income or loss of other includible entities (add
net income and subtract net loss)
. . . . . . . . . .
c Exclude AFS net income or loss of excludible entities (add net
loss and subtract net income) . . . . . . . . . . . .
d Adjustment for certain consolidating entries (see instructions)
.
e Specified additional net income or loss item B. Reserved for future use
f AFS net income or loss of all entities in the test group before
adjustments. Combine lines 1a through 1c . . . . . . . .
2
Adjustments:
a Financial statements covering different tax years . . . . . .
b Corporations that are not included on the taxpayer’s consolidated
return (see instructions) . . . . . . . . . . . . . .
c

1a

1b

1c
1d
1e
1f

2a

2b

Pro-rata share of net income from controlled foreign corporations for
which the corporation is a U.S. shareholder. If zero or less, enter -0(see instructions for special rules if completing this form for an FPMG)

2c
d Amounts that are not effectively connected to a U.S. trade or business
(see instructions for special rules if completing this form for an FPMG)
)(
2d (
e Certain taxes (see instructions) . . . . . . . . . . . .
2e
f Patronage dividends and per-unit retain allocations (cooperatives only) 2f
g Alaska native corporations . . . . . . . . . . . . .
2g
h Certain credits (see instructions) . . . . . . . . . . .
2h
i Mortgage servicing income . . . . . . . . . . . . .
2i
j Tax-exempt entities (organizations subject to tax under section 511) 2j
k Depreciation . . . . . . . . . . . . . . . . . .
2k
2l
l Qualified wireless spectrum . . . . . . . . . . . . .
2m
m Covered transactions . . . . . . . . . . . . . . .
n Adjustments related to bankruptcy and insolvency . . . . .
2n
o Certain insurance company adjustments . . . . . . . .
2o
p Adjustment P—Reserved for future use . . . . . . . . .
2p
q Adjustment Q—Reserved for future use . . . . . . . . .
2q
r Adjustment R—Reserved for future use . . . . . . . . .
2r
s Adjustment S—Reserved for future use . . . . . . . . .
2s
z Other (see instructions) . . . . . . . . . . . . . .
2z
3
Specified adjustment. Reserved for future use . . . . . . .
3
4
4
Total adjustments. Combine lines 2a through 2z . . . . . .
5
AFSI. Combine lines 1f and 4 . . . . . . . . . . . .
5
6
AFSI of first, second, and third preceding tax years. Combine columns (a), (b), and (c) of line 5 .
7
3-year average annual AFSI (see instructions) . . . . . . . . . . . . . . . . .
For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 12955I

)(

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Form 4626 (2023)

Page 2

Form 4626 (2023)

Part I
8

9

Applicable Corporation Determination (Report all amounts in U.S. dollars.) (continued)

Is line 7 more than $1 billion?
Yes. Continue to line 9.
No. STOP here and attach to your tax return.
Is the corporation a member of an FPMG within the meaning of section 59(k)(2)(B)?
Yes. Continue to line 10.
No. Continue to Part II.

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(a)
First Preceding
Year Ended

(b)

(c)

Second Preceding
Year Ended

Third Preceding
Year Ended

/
/
/
AFSI for purposes of the $100 million test before adjustments:
AFSI from line 5 . . . . . . . . . . . . . . . . .
10a
Aggregation differences (see instructions) . . . . . . . .
10b
Total AFSI for purposes of the $100 million test before adjustments.
Combine lines 10a and 10b . . . . . . . . . . . . .
10c
11
Adjustments:
a Income not effectively connected to a U.S. trade or business . .
11a
b Pro-rata share of CFC net income described in section 56A(c)(3)
(attach worksheet) (see instructions) . . . . . . . . . .
11b
11c
c Reserved for future use—Other adjustments 1
. . . . . .
d Reserved for future use—Other adjustments 2
. . . . . .
11d
12
Total adjustments. Combine lines 11a and 11b . . . . . .
12
13
Total AFSI for purposes of the $100 million test. Combine lines
10c and 12 . . . . . . . . . . . . . . . . . .
13
14
AFSI of first, second, and third preceding tax years. Combine columns (a), (b), and (c) of line 13 .
15
3-year average annual AFSI for purposes of the $100 million test . . . . . . . . . . .
16
Is line 15 $100 million or more?
Yes. Continue to Part II.
No. STOP here. Attach to your tax return.

/

/

/

10
a
b
c

.
.

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Form 4626 (2023)

Page 3

Form 4626 (2023)

Part II
1
a
b
c
d
e
f
2
a
b
c
d
e

Corporate Alternative Minimum Tax

Net income or loss per applicable financial statement(s) (AFS) (see instructions):
Consolidated net income or loss per the AFS of the corporation . . . . . . . . . . . . .
Include AFS net income or loss of other includible entities (add net income and subtract net loss) . .
Exclude AFS net income or loss of excludible entities (add net loss and subtract net income) . . .
Adjustment for certain consolidating entries (see instructions)
. . . . . . . . . . . . .
Specified additional net income or loss item D. Reserved for future use . . . . . . . . . .
AFS net income or loss before adjustments. Combine lines 1a through 1c . . . . . . . . .
Adjustments:
Financial statements covering different tax years . . . . . . . . . . . . . . . . . .
Reserved for future use—Adjustment 2b
. . . . . . . . . . . . . . . . . . . .
Corporations that are not included on the taxpayer’s consolidated return (see instructions) . . . .
The corporation’s distributive share of adjusted financial statement income of partnerships . . . .
Pro-rata share of net income from controlled foreign corporations for which the corporation is a U.S.
shareholder. If zero or less, enter -0-. (See instructions) . . . . . . . . . . . . . . . .
Amounts that are not effectively connected to a U.S. trade or business . . . . . . . . . .
Certain taxes. Enter the amount from Part III, line 7 . . . . . . . . . . . . . . . . .
Patronage dividends and per-unit retain allocations (cooperatives only) . . . . . . . . . .
Alaska native corporations . . . . . . . . . . . . . . . . . . . . . . . . .
Certain credits (see instructions) . . . . . . . . . . . . . . . . . . . . . . .
Mortgage servicing income . . . . . . . . . . . . . . . . . . . . . . . . .
Covered benefit plans described in section 56A(c)(11)(B) . . . . . . . . . . . . . . .
Tax-exempt entities (organizations subject to tax under section 511) . . . . . . . . . . .
Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Qualified wireless spectrum . . . . . . . . . . . . . . . . . . . . . . . . .
Covered transactions . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjustments related to bankruptcy and insolvency . . . . . . . . . . . . . . . . .
Certain insurance company adjustments . . . . . . . . . . . . . . . . . . . .
AFSI adjustment S—Reserved for future use . . . . . . . . . . . . . . . . . . .
AFSI adjustment T—Reserved for future use . . . . . . . . . . . . . . . . . . .
AFSI adjustment U—Reserved for future use . . . . . . . . . . . . . . . . . . .
Other (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . .
Total adjustments. Combine lines 2a through 2z . . . . . . . . . . . . . . . . . .
AFSI before financial statement net operating loss carryover. Combine lines 1f and 3 . . . . . .
Financial statement net operating loss (FSNOL) (see instructions) . . . . . . . . . . . .
AFSI. Subtract line 5 from line 4. If zero or less, enter -0- . . . . . . . . . . . . . . .
Multiply line 6 by 15% (0.15) . . . . . . . . . . . . . . . . . . . . . . . .
Corporate alternative minimum tax foreign tax credit (CAMT FTC). Enter amount from Part IV, Section I, line 6 (see instructions)
Tentative minimum tax. Subtract line 8 from line 7. If zero or less, enter -0- . . . . . . . . .
Regular tax liability (see instructions) . . . . . . . . . . . . . . . . . . . . . .
Base erosion minimum tax (see instructions) . . . . . . . . . . . . . . . . . . .
Combine lines 10 and 11 . . . . . . . . . . . . . . . . . . . . . . . . . .
Alternative minimum tax. Subtract line 12 from line 9. If zero or less, enter -0-. Enter here and on Form
1120, Schedule J, line 3, or the appropriate line of the corporation’s income tax return . . . . .

1a
1b
1c
1d
1e
1f

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f
g
h
i
j
k
l
m
n
o
p
q
r
s
t
u
z
3
4
5
6
7
8
9
10
11
12
13

Part III
1
2
3
4
5
6a
b
c
d
e
f
g
h
z
7

Adjustment for Certain Taxes Under Section 56A(c)(5)

Current income tax provision—Foreign . . . . . . . . . .
Current income tax provision—Federal . . . . . . . . . .
Deferred income tax provision—Foreign . . . . . . . . . .
Deferred income tax provision—Federal . . . . . . . . . .
Income taxes included in equity method investment income . . .
Adjustment A—Reserved for future use . . . . . . . . . .
Adjustment B—Reserved for future use . . . . . . . . . .
Adjustment C—Reserved for future use . . . . . . . . . .
Adjustment D—Reserved for future use . . . . . . . . . .
Adjustment E—Reserved for future use . . . . . . . . . .
Adjustment F—Reserved for future use . . . . . . . . . .
Adjustment G—Reserved for future use . . . . . . . . . .
Adjustment H—Reserved for future use . . . . . . . . . .
Income taxes in other places . . . . . . . . . . . . .
Total. Combine lines 1 through 6z. Enter here and on Part II, line 2g

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2a
2b
2c
2d

2e
2f
2g
2h
2i
2j
2k
2l
2m
2n
2o
2p
2q
2r
2s
2t
2u
2z
3
4
5
6
7
8
9
10
11
12
13
1
2
3
4
5
6a
6b
6c
6d
6e
6f
6g
6h
6z
7

Form 4626 (2023)

Page 4

Form 4626 (2023)

Part IV
Alternative Minimum Tax—Corporations Foreign Tax Credit
Section I—AMT Foreign Tax Credit
1
a
b
c
d
e
f
g

Domestic corporation AMT foreign income taxes:
Total foreign taxes paid or accrued as reported on Form 1118, Schedule B,
Part I, column 2(j) . . . . . . . . . . . . . . . . . . . .
1a
Adjustment
1b
Adjustment
1c
Adjustment
1d
Adjustment
1e
Adjustment
1f
Adjustment
1g
Total domestic corporation AMT foreign income taxes. Combine lines 1a through 1g . .
Allowable controlled foreign corporation (CFC) AMT foreign income taxes:
Pro-rata share of CFC AMT foreign income taxes from Part IV, Section II, line
11, column (n) . . . . . . . . . . . . . . . . . . . . .
3a
Carryover of excess foreign taxes (from Part IV, Section III, line 4, column (vii))
3b
Total CFC AMT foreign income taxes. Add lines 3a and 3b . . . . . . . . . . .
Percentage specified in section 55(b)(2)(A)(i) . . . . . . . . . . .
3d
Pro-rata share of CFC net income described in section 56A(c)(3) (attach
worksheet) (see instructions) . . . . . . . . . . . . . . . .
3e
CFC AMT foreign tax credit limitation (multiply line 3d by line 3e)
. . . . . . . .
Allowable CFC AMT foreign income taxes (lesser of line 3c or line 3f) . . . . . . .
CAMT FTC Line 4—Reserved for future use . . . . . . . . . . . . . . .
CAMT FTC Line 5—Reserved for future use . . . . . . . . . . . . . . .
Total AMT foreign income taxes. Combine lines 2 and 3g. Enter this amount on Part II, line 8

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3

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2

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3c
15%

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3f
3g
4
5
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Form 4626 (2023)

Form 4626 (2023)

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Page 5

Part IV
Alternative Minimum Tax—Corporations Foreign Tax Credit (continued)
Section II—Allowable CFC AMT Foreign Income Taxes
(a)
Name of CFC

1
2
3
4
5
6
7
8
9
10
11

Total. Combine lines 1 through 10 .
(g)
Adjustment

1
2
3
4
5
6
7
8
9
10

(h)
Adjustment

.

(b)
EIN or
Reference ID Number
of CFC

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(i)
Adjustment

.

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(j)
Adjustment

(c)
CFC income

(d)
Foreign taxes
for which credit
is allowed

(e)
Adjustment

(f)
Adjustment

(k)
Adjustment

(l)
Total
(combine columns (d)
through (k))

(m)
Pro-rata share
percentage

(n)
Pro-rata share of
CFC AMT foreign
income taxes
(multiply column (l)
by column (m))

.

11
Form 4626 (2023)

Form 4626 (2023)

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Page 6

Part IV
Alternative Minimum Tax—Corporations Foreign Tax Credit (continued)
Section III—AMT Foreign Tax Credit Carryover for Controlled Foreign Corporations (Report all amounts in U.S. dollars.)
(i)
5th Preceding
Tax Year

Foreign Tax Carryover Reconciliation
1

Foreign tax carryover from the prior tax year
(enter amounts from the appropriate columns
of line 8 of the prior year Form 4626, Part IV,
Section III (see instructions)) . . . . . .

2

Adjustments to line 1 (enter description—see
instructions):
a
b
c
d
e
f
g

3

Total. Combine lines 2a through 2g

4

Adjusted foreign tax carryover from prior tax
year (combine lines 1 and 3). If zero or less,
enter -0- . . . . . . . . . . . .
Foreign tax carryover used in current tax
year (see instructions) . . . . . . . . (
Foreign tax carryover expired and unused in
current tax year (see instructions) . . . . (
Foreign tax carryover generated in current
tax year (see instructions) . . . . . .

5
6
7
8

.

.

(ii)
4th Preceding
Tax Year

(iii)
3rd Preceding
Tax Year

(iv)
2nd Preceding
Tax Year

(v)
1st Preceding
Tax Year

(vii)
Total
(add columns (i)
through (vi))

(vi)
Current
Tax Year

.

)(
)

)(

)(

)(

)

(

)

(

)

Foreign tax carryover to the following tax
year. Combine lines 4 through 7. If zero or
less, enter -0- . . . . . . . . . .
Form 4626 (2023)

Form 4626 (2023)

Part V

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(a)
Name of member

1
2
3
4
5
6
7
8
9
10
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12
13

Page 7

Members of a Controlled Group Treated as a Single Employer and Foreign-Parented Multinational Group (FPMG) Members Taken Into
Account in “Applicable Corporation” Determination
(b)
EIN of member

(c)
(d)
Check if the entity Check if the entity
is a member of a
is a member of a
59(k)(1)(D) group
59(k)(2)(B) group

(e)
EIN/FTIN of the
U.S. return (if any)
on which the majority of
the member’s income
is reported

(f)
Member’s
financial statement
income/(loss)

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Form 4626 (2023)