Form 1118 

(Rev. December 2020)

Department of the Treasury 

Internal Revenue Service 

Foreign Tax Credit—Corporations

▶ Attach to the corporation’s tax return.

▶ 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

Attachment 

Sequence No. 118

Name of corporation Employer identification number

Use a separate Form 1118 for each applicable 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) . . . . . . . . . . . . ▶

Schedule A Income or (Loss) Before Adjustments (Report all amounts in U.S. dollars. See Specific Instructions.)

1. EIN or Reference ID 

Number 

(see instructions)*

2. Foreign Country or

U.S. Possession 

(enter two-letter code—use 

a separate line for each) 

(see instructions)

Gross Income or (Loss) From Sources Outside the United States

3. Inclusions Under Sections 951(a)(1) and 951A 

(see instructions)

4. Dividends 

(see instructions) 5. Interest

 (a) Exclude Gross-Up (b) Gross-Up (section 78) (a) Exclude Gross-Up (b) Gross-Up (section 78) 

A

B

C

Totals (add lines A through C) . . . . . . . ▶

 6. Gross Rents, Royalties, 

and License Fees 7. Sales 8. Gross Income From Performance of Services 9. Section 986(c) Gain 10. Section 987 Gain 11. Section 988 Gain 12. Other (attach schedule)

A

B

C

Totals

13. Total 

(add columns 3(a) 

through 12)

14. Allocable Deductions

(a) Dividends 

Received Deduction 

(see instructions)

(b) Deduction Allowed Under 

Section 250(a)(1)(A)—Foreign 

Derived Intangible Income

(c) Deduction Allowed Under 

Section 250(a)(1)(B)—Global 

Intangible Low-Taxed Income

Rental, Royalty, and Licensing Expenses

(d) Depreciation, Depletion, 

and Amortization

(e) Other Allocable 

Expenses

(f) Expenses Allocable 

to Sales Income

 

A

B

C

Totals

14. Allocable Deductions (continued)

(g) Expenses Allocable 

to Gross Income From 

Performance of Services

(h) Other Allocable 

Deductions (attach schedule) 

(see instructions)

(i) Total Allocable Deductions 

(add columns 14(a) 

through 14(h))

15. Apportioned 

Share of Deductions 

(enter amount from 

applicable line of Schedule H, 

Part II, column (d))

16. Net Operating 

Loss Deduction

17. Total Deductions 

(add columns 14(i) 

through 16)

18. Total Income or (Loss) 

Before Adjustments 

(subtract column 17 

from column 13) 

A

B

C

Totals

*For section 863(b) income, NOLs, income from RICs, high-taxed income, section 965, section 951A, and reattribution of income by reason of disregarded payments, use a single line (see instructions). 

Also, for reporting branches that are QBUs, use a separate line for each such branch.

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 10900F Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 2 

Schedule B Foreign Tax Credit (Report all foreign tax amounts in U.S. dollars.)

Part I—Foreign Taxes Paid, Accrued, and Deemed Paid (see instructions)

1. Credit Is Claimed for Taxes 

(check one):

Paid Accrued

2. Foreign Taxes Paid or Accrued (attach schedule showing amounts in foreign currency and conversion rate(s) used)

Tax Withheld at Source on:

(a) Dividends

(b) Distributions of 

Previously Taxed Earnings 

and Profits

(c) Branch Remittances (d) Interest (e) Rents, Royalties, 

and License Fees (f) Other

Date Paid Date Accrued 

A

B

C

Totals (add lines A through C) . ▶

2. Foreign Taxes Paid or Accrued (attach schedule showing amounts in foreign currency and conversion rate(s) used)

Other Foreign Taxes Paid or Accrued on:

(g) Sales (h) Services Income (i) Other

(j) Total Foreign Taxes Paid or Accrued 

(add columns 2(a) through 2(i))

3. Tax Deemed Paid

(see instructions)

 

A

B

C

Totals

Part II—Separate Foreign Tax Credit (Complete a separate Part II for each applicable category of income.)

1a Total foreign taxes paid or accrued (total from Part I, column 2(j)) . . . . . . . . . . . . . . . . . . . . . . .

b Foreign taxes paid or accrued by the corporation during prior tax years that were suspended due to the rules of section 909 and for 

which the related income is taken into account by the corporation during the current tax year (see instructions) . . . . . . . .

2 Total taxes deemed paid (total from Part I, column 3) . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Reductions of taxes paid, accrued, or deemed paid (enter total from Schedule G) . . . . . . . . . . . . . . . . . . ( )

4 Taxes reclassified under high-tax kickout . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Enter the sum of any carryover of foreign taxes (from Schedule K, line 3, column (xiv), and from Schedule I, Part III, line 3) plus any 

carrybacks to the current tax year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Total foreign taxes (combine lines 1a through 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Enter the amount from the applicable column of Schedule J, Part I, line 11 (see instructions). If Schedule J is not required to be completed, enter the 

result from the “Totals” line of column 18 of the applicable Schedule A . . . . . . . . . . . . . . . . . . . . . . . . . . .

8a Total taxable income from all sources (enter taxable income from the corporation’s tax return) . . . . . . . . . . . . . .

b Adjustments to line 8a (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c Subtract line 8b from line 8a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 Divide line 7 by line 8c. Enter the resulting fraction as a decimal (see instructions). If line 7 is greater than line 8c, enter 1 . . . . . . . . . . .

10 Total U.S. income tax against which credit is allowed (regular tax liability (see section 26(b)) minus any American Samoa economic development credit) 

11 Multiply line 9 by line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 Increase in limitation (section 960(c)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13 Credit limitation (add lines 11 and 12) (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14 Separate foreign tax credit (enter the smaller of line 6 or line 13). Enter here and on the appropriate line of Part III . . . . . . . . . . . . ▶

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 3 

Schedule B Foreign Tax Credit (continued) (Report all foreign tax amounts in U.S. dollars.)

Part III—Summary of Separate Credits (Enter amounts from Part II, line 14 for each applicable category of income. Do not include taxes paid to sanctioned countries.)

1 Credit for taxes on section 951A category income . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Credit for taxes on foreign branch category income . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Credit for taxes on passive category income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Credit for taxes on general category income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Credit for taxes on section 901(j) category income (combine all such credits on this line) . . . . . . . . . . . . . . . .

6 Credit for taxes on income re-sourced by treaty (combine all such credits on this line) . . . . . . . . . . . . . . . .

7 Total (add lines 1 through 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8 Reduction in credit for international boycott operations (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 Total foreign tax credit (subtract line 8 from line 7). Enter here and on the appropriate line of the corporation’s tax return . . . . . . . . . ▶

Schedule C Tax Deemed Paid With Respect to Section 951(a)(1) Inclusions by Domestic Corporation Filing Return (Section 960(a))

Use this schedule to report the tax deemed paid by the corporation with respect to section 951(a)(1) inclusions of earnings from foreign corporations under 

section 960(a). For each line in Schedule C, include the column 10 amount in column 3 of the line in Schedule B, Part I that corresponds with the identifying 

number specified in column 1 of Schedule A and that also corresponds with the identifying number entered in column 1b of this Schedule C (see 

instructions).

1a. Name of Foreign Corporation

1b. EIN or 

Reference ID 

Number of the 

Foreign Corporation 

(see instructions)

1c. QBU Reference 

ID (if applicable)

2. Tax Year End 

(Year/Month) 

(see instructions)

3. Country of 

Incorporation (enter 

country code—see

instructions)

4. Functional Currency 

of Foreign Corporation 

(enter code - see 

instructions)

5. Subpart F Income Group

(a) Reg. sec. 1.960-1(d)

(2)(ii)(B)(2)(enter code)

(b) Reg. sec. 1.904-4(c)

(3)(i)-(iv) (enter code) (c) Unit 

6. Total Net Income in Subpart F 

Income Group (in functional currency 

of foreign corporation)

7. Total Current Year Taxes in 

Subpart F Income Group 

(in U.S. Dollars)

8. Section 951(a)(1) Inclusion Attributable to Subpart F Income Group

(a) Functional Currency (b) U.S. Dollars

9. Divide column 8(a) by column 6 10. Tax Deemed Paid (multiply 

column 7 by column 9)

 

Total (add amounts in column 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 4

Schedule D Tax Deemed Paid With Respect to Section 951A Income by Domestic Corporation Filing the Return (Section 960(d))

Use this schedule to figure the tax deemed paid by the corporation with respect to section 951A inclusions of earnings from foreign corporations under 

section 960(d). 

Part I—Foreign Corporation’s Tested Income and Foreign Taxes

1a. Name of Foreign Corporation

1b. EIN or 

Reference ID 

Number of the 

Foreign Corporation 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation (enter 

country code— 

see instructions)

4. Functional 

Currency of Foreign 

Corporation 

(enter code)

5. Pro rata share of 

CFC’s tested 

income from 

applicable Form 

8992 schedule 

(see instructions)

6. CFC’s tested 

income from 

applicable Form 

8992 schedule 

(see instructions)

7. Divide column 5 

by column 6

8. CFC’s tested 

foreign income 

taxes from 

Schedule Q 

(Form 5471) 

(see instructions)

9. Pro rata share of 

tested foreign 

income taxes paid 

or accrued by CFC 

(Multiply amount in 

column 7 by amount 

in column 8)

Total (add amounts in column 5) . . . . . . . . . . . . . . . . . . . . ▶

Total (add amounts in column 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Part II—Foreign Income Tax Deemed Paid

1. Global Intangible Low-Taxed Income 

(Section 951A Inclusion)

2. Inclusion Percentage. 

Divide Part II, Column 1, by 

Part I, Column 5 Total

3. Multiply Part I, Column 9 Total, by 

Part II, Column 2 Percentage

4. Tax Deemed Paid 

(Multiply Part II, column 3, by 80%. 

Enter the result here and include on the line of 

Schedule B, Part I, column 3 that corresponds with the 

line with “951A” in column 2 of Schedule A.)

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 5

Schedule E Tax Deemed Paid With Respect to Previously Taxed Earnings and Profits (PTEP) by Domestic Corporation Filing the Return 

(Section 960(b))

Part I—Tax Deemed Paid by Domestic Corporation

Use this part to report the tax deemed paid by the domestic corporation with respect to distributions of PTEP from first-tier foreign corporations under section 960(b). For each line in 

Schedule E, Part I, include the column 11 amount in column 3 of the line in Schedule B, Part I that corresponds with the identifying number specified in column 1 of Schedule A and 

that also corresponds with the identifying number specified in column 1b of this Schedule E, Part I (see instructions).

1a. Name of 

Distributing Foreign 

Corporation

1b. EIN or 

Reference ID 

Number of the 

Foreign 

Corporation 

(see 

instructions)

2. Tax Year End

(Year/Month) 

(see

instructions)

3. Country of

Incorporation

(enter country

code— 

see

instructions)

4. Functional 

Currency of the 

Distributing 

Foreign 

Corporation

5. PTEP Group 

(enter code)

6. Annual PTEP 

account 

(enter year)

7. Total amount of 

PTEP in the 

PTEP Group

8. Total amount of 

the PTEP group 

taxes with respect 

to PTEP group

9. Distribution from 

the PTEP Group

10. Divide column 9 

by column 7

11. Foreign income 

taxes properly 

attributable to PTEP 

and not previously 

deemed paid 

(multiply column 8 

by column 10)

Total (add amounts in column 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Part II—Tax Deemed Paid by First- and Lower-Tier Foreign Corporations

Use this part to report the tax deemed paid by a foreign corporation with respect to distributions of PTEP from lower-tier foreign corporations under section 960(b) that relate to 

distributions reported in Part I (see instructions). 

1a. Name of Distributing Foreign Corporation

1b. EIN or 

Reference ID 

Number of the 

Foreign 

Corporation 

(see 

instructions)

2. Tax Year End

(Year/Month) 

(see

instructions)

3. Country of

Incorporation

(enter country

code—see

instructions)

4a. Name of Recipient 

Foreign Corporation

4b. EIN or 

Reference ID 

Number of the 

Foreign 

Corporation 

(see 

instructions)

5. Tax Year End 

(Year/Month) 

(see 

instructions)

6. Country of 

Incorporation 

(enter country 

code—see 

instructions)

7. Functional Currency of the 

Distributing Foreign 

Corporation

8. PTEP Group (enter code) 9. Annual PTEP account 

(enter year)

10. Total Amount of 

PTEP in the PTEP 

Group 

11. Total Amount of the 

PTEP group taxes with 

respect to PTEP group

12. PTEP Distributed 13. Divide column 12 by 

column 10

14. Foreign income taxes 

properly attributable to PTEP 

and not previously deemed 

paid (multiply column 11 by 

column 13)

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 6

Schedule F-1 Tax Deemed Paid by Domestic Corporation Filing Return—Pre-2018 Tax Years of Foreign Corporations

Use this schedule to figure the tax deemed paid by the corporation with respect to dividends from a first-tier foreign corporation under section 902(a), and 

deemed inclusions of earnings from a first- or lower-tier foreign corporation under section 960(a). Report all amounts in U.S. dollars unless otherwise 

specified.

IMPORTANT: Applicable to dividends or inclusions from tax years of foreign corporations beginning on or before December 31, 2017. 

If taxpayer does not have such a dividend or inclusion, do not complete Schedule F-1 (see instructions).

Part I—Dividends and Deemed Inclusions From Post-1986 Undistributed Earnings

For each line in Schedule F-1, Part I, include the column 12 amount in column 3 of the line in Schedule B, Part I that corresponds with the identifying number specified in column 1 

of Schedule A and that also corresponds with the identifying number specified in either column 1b or 1c of this Schedule F-1, Part I (see instructions).

1a. Name of Foreign Corporation 

(identify DISCs and former DISCs)

1b. EIN (if any) 

of the 

Foreign 

Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End 

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country

code—see

instructions)

4. Post-1986 

Undistributed Earnings 

(in functional currency) 

(attach schedule)

5. Opening Balance 

in Post-1986 Foreign 

Income Taxes

6. Foreign Taxes Paid and Deemed 

Paid for Tax Year Indicated

(a) Taxes Paid (b) Taxes Deemed Paid 

(see instructions) 

7. Post-1986 Foreign 

Income Taxes 

(add columns 5, 6(a), and 6(b))

8. Dividends and Deemed Inclusions

(a) Functional 

Currency (b) U.S. Dollars

9. Divide Column 8(a) 

by Column 4

10. Multiply Column 7 

by Column 9 11. Section 960(c) Limitation

12. Tax Deemed Paid 

(subtract column 11 

from column 10) 

Total (add amounts in column 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 7

Schedule F-1 Tax Deemed Paid by Domestic Corporation Filing Return—Pre-2018 Tax Years of Foreign Corporations (continued)

IMPORTANT: Applicable to dividends or inclusions from tax years of foreign corporations beginning on or before December 31, 2017. 

If taxpayer does not have such a dividend or inclusion, do not complete Schedule F-1 (see instructions).

Part II—Dividends Paid Out of Pre-1987 Accumulated Profits

For each line in Schedule F-1, Part II, include the column 8(b) amount in column 3 of the line in Schedule B, Part I that corresponds with the identifying number specified in column 

1 of Schedule A and that also corresponds with the identifying number specified in either column 1b or 1c of this Schedule F-1, Part I (see instructions).

1a. Name of Foreign Corporation 

(identify DISCs and former DISCs)

1b. EIN (if any) 

of the 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of Incorporation

(enter country code— 

see instructions)

4. Accumulated Profits 

for Tax Year Indicated 

(in functional currency computed 

under section 902) (attach schedule)

5. Foreign Taxes Paid and Deemed 

Paid on Earnings and Profits (E&P) 

for Tax Year Indicated 

(in functional currency) 

(see instructions)

6. Dividends Paid

(a) Functional Currency (b) U.S. Dollars

7. Divide Column 6(a) 

by Column 4

8. Tax Deemed Paid (see instructions)

(a) Functional Currency (b) U.S. Dollars 

Total (add amounts in column 8b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Part III—Deemed Inclusions From Pre-1987 Earnings and Profits

For each line in Schedule F-1, Part III, include the column 8 amount in column 3 of the line in Schedule B, Part I that corresponds with the identifying number specified in column 1 

of Schedule A and that also corresponds with the identifying number specified in either column 1b or 1c of this Schedule F-1, Part I (see instructions).

1a. Name of Foreign Corporation 

(identify DISCs and former DISCs)

1b. EIN (if any) 

of the 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of Incorporation

(enter country code— 

see instructions)

4. E&P for Tax Year Indicated 

(in functional currency 

translated from U.S. dollars, computed under 

section 964) (attach schedule)

5. Foreign Taxes Paid and 

Deemed Paid for Tax Year Indicated 

(see instructions)

6. Deemed Inclusions

(a) Functional Currency (b) U.S. Dollars

7. Divide Column 6(a) 

by Column 4

8. Tax Deemed Paid 

(multiply column 5 by column 7)

 

Total (add amounts in column 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 8

Schedule F-2 Tax Deemed Paid by First- and Second-Tier Foreign Corporations Under Section 902(b)—Pre-2018 Tax Years of Foreign 

Corporations

Use Part I to compute the tax deemed paid by a first-tier foreign corporation with respect to dividends from a second-tier foreign corporation. Use Part II to 

compute the tax deemed paid by a second-tier foreign corporation with respect to dividends from a third-tier foreign corporation. Report all amounts in U.S. 

dollars unless otherwise specified.

IMPORTANT: Applicable to dividends from tax years of foreign corporations beginning on or before December 31, 2017. 

If taxpayer does not have such a dividend, do not complete Schedule F-2 (see instructions).

Part I—Tax Deemed Paid by First-Tier Foreign Corporations

Section A—Dividends Paid Out of Post-1986 Undistributed Earnings (Include the column 10 results in Schedule F-1, Part I, column 6(b).)

1a. Name of Second-Tier Foreign Corporation 

and Its Related First-Tier Foreign Corporation

1b. EIN (if any) 

of the Second-Tier 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country code— 

see instructions)

4. Accumulated Profits 

for Tax Year Indicated 

(in functional currency— 

see instructions)

5. Opening Balance 

Post-1986 Foreign 

Income Taxes

6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated

(a) Taxes Paid (b) Taxes Deemed Paid 

(see instructions)

7. Post-1986 Foreign 

Income Taxes 

(add columns 5, 6(a), and 6(b))

8. Dividends Paid (in functional currency)

(a) of Second-Tier Corporation (b) of First-Tier Corporation

9. Divide Column 8(a) 

by Column 4

10. Tax Deemed Paid 

(multiply column 7 

by column 9) 

Section B—Dividends Paid Out of Pre-1987 Accumulated Profits (Include the column 8(b) results in Schedule F-1, Part I, column 6(b).)

1a. Name of Second-Tier Foreign Corporation 

and Its Related First-Tier Foreign Corporation

1b. EIN (if any) 

of the Second-Tier 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country code— 

see instructions)

4. Accumulated Profits 

for Tax Year Indicated 

(in functional currency— 

attach schedule)

5. Foreign Taxes Paid and 

Deemed Paid for Tax Year Indicated 

(in functional currency— 

see instructions)

6. Dividends Paid 

(in functional currency)

(a) of Second-Tier Corporation (b) of First-Tier Corporation

7. Divide Column 6(a) 

by Column 4

8. Tax Deemed Paid 

(see instructions)

(a) Functional Currency 

of Second-Tier Corporation (b) U.S. Dollars 

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 9

Schedule F-2 Tax Deemed Paid by First- and Second-Tier Foreign Corporations Under Section 902(b)—Pre-2018 Tax Years of Foreign 

Corporations (continued)

IMPORTANT: Applicable to dividends from tax years of foreign corporations beginning on or before December 31, 2017. 

If taxpayer does not have such a dividend, do not complete Schedule F-2 (see instructions).

Part II—Dividends Deemed Paid by Second-Tier Foreign Corporations

Section A—Dividends Paid Out of Post-1986 Undistributed Earnings (In general, include the column 10 results in Section A, column 6(b), of Part I. However, see instructions for 

Schedule F-1, Part I, column 6(b), for an exception.)

1a. Name of Third-Tier Foreign Corporation 

and Its Related Second-Tier Foreign Corporation

1b. EIN (if any) 

of the Third-Tier 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country code— 

see instructions)

4. Post-1986 

Undistributed Earnings 

(in functional currency— 

attach schedule)

5. Opening Balance in 

Post-1986 Foreign 

Income Taxes

6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated

(a) Taxes Paid (b) Taxes Deemed Paid (from 

Schedule F-3, Part I, column 10)

7. Post-1986 Foreign 

Income Taxes 

(add columns 5, 6(a), and 6(b))

8. Dividends Paid 

(in functional currency)

(a) of Third-Tier Corporation (b) of Second-Tier Corporation

9. Divide Column 8(a) 

by Column 4

10. Tax Deemed Paid 

(multiply column 7 

by column 9)

 

Section B—Dividends Paid Out of Pre-1987 Accumulated Profits (In general, include the column 8(b) results in Section A, column 6(b), of Part I. However, see instructions for 

Schedule F-1, Part I, column 6(b) for an exception.)

1a. Name of Third-Tier Foreign Corporation 

and Its Related Second-Tier Foreign Corporation

1b. EIN (if any) 

of the Third-Tier 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country code— 

see instructions)

4. Accumulated Profits 

for Tax Year Indicated 

(in functional currency— 

attach schedule)

5. Foreign Taxes Paid and 

Deemed Paid for Tax Year Indicated 

(in functional currency— 

see instructions)

6. Dividends Paid 

(in functional currency)

(a) of Third-Tier Corporation (b) of Second-Tier Corporation

7. Divide Column 6(a) 

by Column 4

8. Tax Deemed Paid 

(see instructions)

(a) Functional Currency 

of Third-Tier Corporation (b) U.S. Dollars 

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 10

Schedule F-3 Tax Deemed Paid by Certain Third-, Fourth-, and Fifth-Tier Foreign Corporations Under Section 902(b)—Pre-2018 Tax Years of 

Foreign Corporations

Use this schedule to report taxes deemed paid with respect to dividends from eligible post-1986 undistributed earnings of fourth-, fifth-, and sixth-tier 

controlled foreign corporations. Report all amounts in U.S. dollars unless otherwise specified.

IMPORTANT: Applicable to dividends from tax years of foreign corporations beginning on or before December 31, 2017. 

If taxpayer does not have such a dividend, do not complete Schedule F-3 (see instructions).

Part I—Tax Deemed Paid by Third-Tier Foreign Corporations (In general, include the column 10 results in Schedule F-2, Part II, Section A, column 6(b). However, see 

instructions for Schedule F-1, Part I, column 6(b), for an exception.)

1a. Name of Fourth-Tier Foreign Corporation 

and Its Related Third-Tier Foreign Corporation

1b. EIN (if any) 

of the Fourth-Tier 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country code— 

see instructions)

4. Post-1986 

Undistributed Earnings 

(in functional currency— 

attach schedule)

5. Opening Balance in 

Post-1986 Foreign 

Income Taxes

6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated

(a) Taxes Paid (b) Taxes Deemed Paid 

(from Part II, column 10)

7. Post-1986 Foreign 

Income Taxes 

(add columns 5, 6(a), and 6(b))

8. Dividends Paid 

(in functional currency)

(a) of Fourth-Tier CFC (b) of Third-Tier CFC

9. Divide Column 8(a) 

by Column 4

10. Tax Deemed Paid 

(multiply column 7 

by column 9)

 

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 11

Schedule F-3 Tax Deemed Paid by Certain Third-, Fourth-, and Fifth-Tier Foreign Corporations Under Section 902(b)—Pre-2018 Tax Years of 

Foreign Corporations (continued)

IMPORTANT: Applicable to dividends from tax years of foreign corporations beginning on or before December 31, 2017. 

If taxpayer does not have such a dividend, do not complete Schedule F-3 (see instructions).

Part II—Tax Deemed Paid by Fourth-Tier Foreign Corporations (In general, include the column 10 results in column 6(b) of Part I. However, see instructions for Schedule F-1, 

Part I, column 6(b), for an exception.)

1a. Name of Fifth-Tier Foreign Corporation 

and Its Related Fourth-Tier Foreign Corporation

1b. EIN (if any) 

of the Fifth-Tier 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country code— 

see instructions)

4. Post-1986 

Undistributed Earnings 

(in functional currency— 

attach schedule)

5. Opening Balance in 

Post-1986 Foreign 

Income Taxes

6. Foreign Taxes Paid and Deemed Paid for Tax Year Indicated

(a) Taxes Paid (b) Taxes Deemed Paid 

(from Part III, column 10)

7. Post-1986 Foreign 

Income Taxes 

(add columns 5, 6(a), and 6(b))

8. Dividends Paid 

(in functional currency)

(a) of Fifth-Tier CFC (b) of Fourth-Tier CFC

9. Divide Column 8(a) 

by Column 4

10. Tax Deemed Paid 

(multiply column 7 

by column 9)

 

Part III—Tax Deemed Paid by Fifth-Tier Foreign Corporations (In general, include the column 10 results in column 6(b) of Part II, above. However, see instructions for Schedule 

F-1, Part I, column 6(b), for an exception.)

1a. Name of Sixth-Tier Foreign Corporation 

and Its Related Fifth-Tier Foreign Corporation

1b. EIN (if any) 

of the Sixth-Tier 

Foreign Corporation

1c. Reference ID 

Number 

(see instructions)

2. Tax Year End

(Year/Month) 

(see instructions)

3. Country of

Incorporation

(enter country code— 

see instructions)

4. Post-1986 

Undistributed Earnings 

(in functional currency— 

attach schedule)

5. Opening Balance in 

Post-1986 Foreign 

Income Taxes

6. Foreign Taxes Paid 

for Tax Year Indicated

7. Post-1986 Foreign 

Income Taxes 

(add columns 5 and 6)

8. Dividends Paid 

(in functional currency)

(a) of Sixth-Tier CFC (b) of Fifth-Tier CFC

9. Divide Column 8(a) 

by Column 4

10. Tax Deemed Paid 

(multiply column 7 

by column 9)

 

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 12

Schedule G Reductions of Taxes Paid, Accrued, or Deemed Paid

Part I—Reduction Amounts

A Reduction of Taxes Under Section 901(e)—Attach separate schedule . . . . . . . . . . . . . . . . . . . . . . . . .

B Reduction of Foreign Oil and Gas Taxes—Enter amount from Schedule I, Part II, line 4 . . . . . . . . . . . . . . . . . . .

C Reduction of Taxes Due to International Boycott Provisions—Enter appropriate portion from Schedule C (Form 5713) (see instructions). 

Important: Enter only “specifically attributable taxes” here . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

D Reduction of Taxes for Section 6038(c) Penalty—Attach separate schedule . . . . . . . . . . . . . . . . . . . . . . .

E Taxes suspended under section 909 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F 

 

Other Reductions of Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1. Enter code—see instructions ▶

2. If more than one code is entered on line F1 or if code OTH is entered on line F1, attach schedule (see instructions).

Total (add lines A through F). Enter here and on Schedule B, Part II, line 3 . . . . . . . . . . . . . . . . . . . . . . . . . ▶

Part II—Other Information

G Check this box if, during the tax year, the corporation paid or accrued any foreign tax that was disqualified for credit under section 901(m) . . . . . . . . . ▶

H Check this box if, during the tax year, the corporation paid or accrued any foreign tax that was disqualified for credit under section 901(j), (k), or (l) . . . . . . . ▶

Form 1118 (Rev. 12-2020) 
Form 1118 (Rev. 12-2020) Page 13 

Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.)

Part I—Research and Experimental Deductions

(a) Sales Method

Product Line #1 (SIC Code: )

(i) Gross Sales (ii) R&E 

Deductions

Product Line #2 (SIC Code: )

(iii) Gross Sales (iv) R&E

Deductions

(b) Gross Income Method—Check method used: Option 1 Option 2

Product Line #1 (SIC Code: )

(v) Gross Income (vi) R&E 

Deductions

Product Line #2 (SIC Code: )

(vii) Gross Income (viii) R&E

Deductions 

(c) Total R&E

Deductions 

(enter the sum of all 

amounts entered in all 

applicable “R&E Deductions” columns)

1 Totals (see instructions)

2 Total to be apportioned

3 

 

Apportionment among 

statutory groupings 

(see instructions):

a Enter Code

(1) Section 245A dividend

(2) Other . . . . .

(3) Total line a . . .

b Enter Code

(1) Section 245A dividend

(2) Other . . . . .

(3) Total line b . . .

c Enter Code

(1) Section 245A dividend

(2) Other . . . . .

(3) Total line c . . .

d Enter Code

(1) Section 245A dividend

(2) Other . . . . .

(3) Total line d . . .

e Enter Code

(1) Section 245A dividend

(2) Other . . . . .

(3) Total line e . . .

f Enter Code

(1) Section 245A dividend

(2) Other . . . . .

(3) Total line f . . .

4 

 

Total foreign (add lines 

3a(3), 3b(3), 3c(3), 3d(3), 

3e(3), and 3f(3)) . . ▶

Important: See Computer-Generated Schedule H in instructions. Form 1118 (Rev. 12-2020)
Form 1118 (Rev. 12-2020) Page 14 

Schedule H Apportionment of Certain Deductions (Complete only once for all categories of income.) (continued)

Part II—Interest Deductions, All Other Deductions, and Total Deductions

(a) Average Value of Assets— 

Check method used:

Tax book value

Alternative tax book value

(i) Nonfinancial

Corporations

(ii) Financial 

Corporations

(b) Interest Deductions

(iii) Nonfinancial

Corporations

(iv) Financial

Corporations

(c) All Other

Deductions 

(attach schedule) 

(see instructions)

(d) Totals 

(add the 

corresponding 

amounts from

column (c), Part I; 

columns (b)(iii) and 

(b)(iv), Part II; and 

column (c), Part II) 

 

Additional note:

Be sure to also enter 

the totals from lines 

3a(2), 3b(2), 3c(2), 

3d(2), 3e(2), and 3f(2) 

below in column 15 

of the corresponding 

Schedule A.

 

1a Totals (see instructions) . . . . . . . . . . . . .

b Amounts specifically allocable under Temporary Regulations 

section 1.861-10T(e) . . . . . . . . . . . . . .

c Other specific allocations under Temporary Regulations section 1.861-10T 

d Assets excluded from apportionment formula . . . . . .

2 Total to be apportioned (subtract the sum of lines 1b, 1c, and 

1d from line 1a) . . . . . . . . . . . . . . . .

3 Apportionment among statutory groupings (see instructions):

a Enter Code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line a . . . . . . . . . . . . . . . .

b Enter Code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line b . . . . . . . . . . . . . . . .

c Enter Code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line c . . . . . . . . . . . . . . . .

d Enter Code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line d . . . . . . . . . . . . . . . .

e Enter Code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line e . . . . . . . . . . . . . . . .

f Enter Code

(1) Section 245A dividend . . . . . . . . . . . .

(2) Other . . . . . . . . . . . . . . . . . .

(3) Total line f . . . . . . . . . . . . . . . .

4 Total foreign (add lines 3a(3), 3b(3), 3c(3), 3d(3), 3e(3), and 3f(3)) ▶

Section 904(b)(4) Adjustments

5 Expenses Allocated and Apportioned to Foreign Source Section 245A Dividend. Enter the sum of lines 3a(1), 3b(1), 3c(1), 3d(1), 3e(1), and 3f(1). Include the 

column (d) result as a negative amount on Schedule B, Part II, line 8b . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Enter expenses allocated and apportioned to U.S. source section 245A dividend. Include the column (d) result as a negative amount on Schedule B, Part II, line 8b

Important: See Computer-Generated Schedule H in instructions. Form 1118 (Rev. 12-2020)