SCHEDULE L 

(Form 1118)

(December 2021)

Foreign Tax Redeterminations

Department of the Treasury 

Internal Revenue Service

▶ Attach to Form 1118.

▶ Go to www.irs.gov/Form1118 for instructions and the latest information.

For calendar year 20 , or other tax year beginning , 20 , and ending , 20 . OMB No. 1545-0123

Name of corporation Employer identification number

Use a separate Schedule L (Form 1118) for each category of income (see instructions). 

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) . . . . . . . . . . . . . . ▶

c If one of the RBT codes is entered on line a, enter the country code for the treaty country (see instructions) . . . . . . . . . . . . ▶

d Check this box if election made under Regulations section 1.905-5(e) to account for foreign tax redeterminations with respect to pre-2018 tax years 

in foreign corporation’s last pooling year (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Part I Increase in Amount of Foreign Taxes Accrued (see instructions)

Enter redetermined amounts by payor entity for each separate relation back year (starting with the most recent) followed by a subtotal for each relation back year (see instructions). 

1. U.S. Tax Year 

of Taxpayer to 

Which Tax Relates 

(Relation Back Year) 

(MM/DD/YYYY)

A

2a. Name of Payor Entity 2b. EIN or Reference ID Number of Payor Entity 2c. Name of Owner of Payor Entity, if applicable 

(see instructions)

(1)

(2)

(3)

B

 

(1)

(2)

(3)

2d. EIN or Reference ID Number of Owner

3. Country or 

U.S. Possession 

to Which Tax Is Paid 

(enter code— 

see instructions)

4. Date Additional 

Foreign Tax Was Paid 

(MM/DD/YYYY)

5. Foreign Tax Year 

to Which Tax Relates 

(MM/DD/YYYY)

6. Payor Entity’s Income 

Subject to Tax in the 

Foreign Jurisdiction 

(see instructions)

7. Additional Tax Accrued 

in Local Currency in Which 

the Tax Is Payable

 (1)

A (2)

 (3)

 (1)

B (2)

 (3)

8. Additional Tax Accrued 

in Functional Currency 

of Taxpayer’s QBU 

or Foreign Corporation

9. Conversion Rate 

of Local Currency 

to U.S. Dollars

10. Additional Tax Accrued 

in U.S. Dollars 

(divide column 7 by column 9)

11. U.S. Dollar Tax 

of Payor Entity per 

Original/Amended Return

12. Revised Tax Accrued 

(add column 10 and column 11)

13. Check Box if 

Contested Tax 

(see instructions)

14. Check Box if 

Change Caused 

to High Tax 

Exception/Exclusion 

(see instructions)

 (1)

A (2)

 (3)

Subtotal by Relation Back Year of Taxpayer (add amounts in columns 10, 11, and 12) ▶ 

 (1)

B (2)

 (3)

Subtotal by Relation Back Year of Taxpayer (add amounts in columns 10, 11, and 12) ▶

*Important: See Computer-Generated Schedule L in the separate instructions for Schedule L (Form 1118).

For Paperwork Reduction Act Notice, see the Instructions for Form 1118. Cat. No. 75132H Schedule L (Form 1118) (12-2021)
Schedule L (Form 1118) (12-2021) Page 2

Name of corporation Employer identification number

Part II Decrease in Amount of Foreign Taxes Paid or Accrued (see instructions)

Enter redetermined amounts by payor entity for each separate relation back year (starting with the most recent) followed by a subtotal for each relation back year (see instructions).

1. U.S. Tax Year 

of Taxpayer to 

Which Tax Relates 

(Relation Back Year) 

(MM/DD/YYYY)

A

2a. Name of Payor Entity 2b. EIN or Reference ID Number of Payor Entity 2c. Name of Owner of Payor Entity, if applicable 

(see instructions)

(1)

(2)

(3)

B

 

(1)

(2)

(3)

2d. EIN or Reference ID Number of Owner

3. Country or 

U.S. Possession 

From Which Tax 

Was Refunded or 

Deemed Refunded 

(enter code— 

see instructions)

4. Date Foreign Tax 

Was Refunded or 

Deemed Refunded 

(MM/DD/YYYY) 

(see instructions)

5. Foreign Tax Year 

to Which Tax Relates 

(MM/DD/YYYY)

6. Payor Entity’s Income 

Subject to Tax in the 

Foreign Jurisdiction 

(see instructions)

7. Tax Refunded or 

Deemed Refunded 

in Local Currency 

in Which the 

Tax Is Payable

 (1)

A (2)

 (3)

 (1)

B (2)

 (3)

8. Refunded Amount 

in Functional Currency 

of Taxpayer’s QBU 

or Foreign Corporation

9. Conversion Rate 

of Local Currency 

to U.S. Dollars

10. Refunded Amount 

in U.S. Dollars 

(divide column 7 by column 9)

11. U.S. Dollar Tax 

of Payor Entity per 

Original/Amended Return

12. Revised Tax 

Paid or Accrued 

(subtract column 10 

from column 11)

13. Check Box if 

Section 905(c)(2) 

Two Year Rule 

Applies 

(see instructions)

14. Check Box if 

Change Caused 

to High Tax 

Exception/Exclusion 

(see instructions)

 (1)

A (2)

 (3)

Subtotal by Relation Back Year of Taxpayer

(add amounts in columns 10, 11, and 12) . . . . . . . . . ▶ 

 (1)

B (2)

 (3)

Subtotal by Relation Back Year of Taxpayer

(add amounts in columns 10, 11, and 12) . . . . . . . . . ▶

*Important: See Computer-Generated Schedule L in the separate instructions for Schedule L (Form 1118).

Schedule L (Form 1118) (12-2021)
Schedule L (Form 1118) (12-2021) Page 3

Name of corporation Employer identification number

Part III Change in Inclusions; Change in Foreign Taxes Paid, Accrued, or Deemed Paid; and Change in Foreign Tax Credits Claimed

Enter the information below for the change in inclusions, change to the amount of foreign taxes paid, accrued, or deemed paid, and change in foreign tax credits claimed for each 

relation back year. This information is reported on an overall taxpayer basis and not on a per payor entity basis.

1. Relation Back Year 

(MM/DD/YYYY)

2. Redetermined 

Direct Section 901 

and/or 903 Taxes 

Paid or Accrued

3. Direct Section 901 

and/or 903 Taxes 

Paid or Accrued 

per Original/Amended Return

4. Redetermined 

Section 951(a)(1)(A) Inclusion

5. Section 951(a)(1)(A) Inclusion 

per Original/Amended Return

6. Redetermined Taxes 

Deemed Paid 

Under Section 960(a)

7. Section 960(a) 

Deemed Paid Taxes 

per Original/Amended Return

8. Redetermined 

Section 951A Inclusion

9. Section 951A Inclusion 

per Original/Amended Return

10. Redetermined Taxes 

Deemed Paid 

Under Section 960(d)

11. Section 960(d) 

Deemed Paid Taxes 

per Original/Amended Return

12. Amount of FTC Claimed 

per Original/Amended Return

13. Amount of FTC Claimed 

After Redetermination

Part IV Change in U.S. Tax Liability

Enter the below information for the change in U.S. tax liability for each relation back year and other affected year. This information is reported on an overall taxpayer basis and not 

on a per payor entity basis.

1. Relation Back Year or Affected Tax Year 

(MM/DD/YYYY)

2. Total Redetermined 

U.S. Tax Liability

3. Total U.S. Tax Liability 

per Original/Amended Return

4. Difference 

(subtract column 3 from column 2)

*Important: See Computer-Generated Schedule L in the separate instructions for Schedule L (Form 1118).

Schedule L (Form 1118) (12-2021)