Rev. December 2023
This script helps you fill out Part I, II, III, IV, V, VI, VII, VIII and IX of Form 5472 for a reporting corporation involved in transactions with related parties. It asks for necessary information such as related party name, type, percentage ownership, gross receipts and payments, among others.
Qualified derivative payments are not entered on Form 5472, Part IX. They are reported separately.
Form 5472 is used by U.S. taxpayers to report transactions with foreign related parties regarding Controlled Foreign Corporations (CFCs), Passive Foreign Investment Companies (PFICs), and certain other types of foreign entities.
A base erosion tax benefit is a deduction allowed under chapter 1 for the tax year with respect to any base erosion payment.
Enter the amount of base erosion payments made by the reporting corporation on line 50.
Form 5472 is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
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