TY 2008 Form 1120-F (U.S. Income Tax Return of a Foreign Corporation) |
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The following instructions are specific to Form 1120-F and are meant to supplement the Tax Year 2008 Directions for Corporations Required to e-file.
The Form 1120-F (U.S. Income Tax Return of a Foreign Corporation) can now be e-filed through the IRS Modernized e-file (MeF) platform. In 2009 (TY2008), certain foreign corporations will also be required to e-file. Treasury Decision (T.D.) 9363 is extended to foreign corporations filing Form 1120-F and who have tax years ending on or after December 31, 2008, assets of $10 million or more and that file 250 or more returns annually.
The 1120-F joins Forms 1120, 1120S, 1065, 1065-B, 990, 990-N, 990-PF, 1120-POL, 720, 2290 and 8849 that are processed on the MeF standardized eXtensible Mark-up Language (XML) system. The following forms are specific to the Form 1120-F and can also be e-filed in MeF:
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Form 1120-F (Schedule M-1 and M-2) (Reconciliation of Income (Loss) and Analysis of Unappropriated Retained Earnings per Books)
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Form 1120-F (Schedule M-3) (Net Income [Loss] Reconciliation for Foreign Corporations With U.S. Assets of $10 Million or More)
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Form 1120-F (Schedule H) (Deductions Allocated to Effectively Connected Income Under Regulations Section 1.861-8)
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Form 1120-F (Schedule I) (Interest Expense Allocation Under Regulations Section 1.882-5)
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Form 1120-F (Schedule P) (List of Foreign Partner Interests in Partnerships)
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Form 1120-F (Schedule S) (Exclusion of Income From the International Operation of Ships or Aircraft Under Section 883)
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Form 1120-F (Schedule V) (List of Vessels or Aircraft, Operators, and Owners)
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Form 8302 (Electronic Deposit of Tax Refund of $1 Million or More)
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Note: Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding) can be filed as a PDF attachment only.
Foreign corporations can e-file their TY2008 1120-F returns by:
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Registering as a Large Taxpayer - Foreign corporations with U.S. citizen employees can designate a representative to register with e-Services and create an IRS e-file Application. The registration process is a one-time, universal process that allows Large Taxpayers to do business with IRS electronically. The IRS e-file Application process provides the Electronic Filing Identification Number (EFIN) and Electronic Transmitter Identification Number (ETIN) necessary to e-file a return with IRS.
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Using an Online Provider - Online Providers offer software, origination and transmission services. Online Providers who have successfully passed IRS' Assurance Testing System (ATS) are listed on irs.gov at Corporate Returns. You may have to contact the Providers individually if they have not updated this link to indicate that they offer 1120-F software and services.
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Using a tax professional - Electronic Return Originators/Transmitters can originate and transmit returns to IRS.
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Designating a representative to obtain an Individual Tax Identification Number (ITIN) – Starting in January 2009, 1120-F corporations who do not have a U.S. citizen to register for e-Services will need to designate representative(s) to apply for an ITIN if they are intending to originate and transmit their own return.
The 1120-F shares many business rules and forms/schedules currently used by Forms 1120/1120S. IRS provides a complete list of the forms and schedules that can be attached, including the maximum number of forms that can be attached to the 1120-F return and the required format (XML or Portable Document Format [PDF]).
Foreign corporations who have successfully qualified as “Large Taxpayers” (see item #1 above) are encouraged to sign up for Quick Alerts. Quick Alerts is a free, web-based mass messaging system available to Authorized IRS e-file Providers. It provides instant e-mail communication regarding processing delays, e-file program updates, and early notification of upcoming seminars and conferences, plus other relative e-file information. Signing up for Quick Alerts requires Large Taxpayers to provide their ETIN. Information for Quick Alerts is available at Tax Information for Tax Professionals. Software developers can obtain the latest Production version of the 1120-F schemas and Stylesheets online. Questions or comments regarding the requirement to e-file may be submitted to the IRS at LargeCorporate@ irs.gov.
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Page Last Reviewed or Updated: January 12, 2009