SCHEDULE J 

(Form 5471)

(Rev. December 2019)

Accumulated Earnings & Profits (E&P) of Controlled Foreign Corporation

Department of the Treasury 

Internal Revenue Service

▶ Attach to Form 5471.

▶ Go to www.irs.gov/Form5471 for instructions and the latest information.

OMB No. 1545-0123

Name of person filing Form 5471 Identifying number

Name of foreign corporation EIN (if any) Reference ID number (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) . . . . . . . . . . . . . . ▶

Part I Accumulated E&P of Controlled Foreign Corporation

Check the box if person filing return does not have all U.S. shareholders’ information to complete amount for columns (e)(i), (e)(ii), (e)(iv), and (e)(x) through (e)(xii) (see instructions).

Important: Enter amounts in functional currency. (a)

Post-2017 E&P Not 

Previously Taxed 

(post-2017 section 

959(c)(3) balance)

(b) 

Post-1986 

Undistributed Earnings 

(post-1986 and pre-2018 

section 959(c)(3) balance)

(c)

Pre-1987 E&P Not 

Previously Taxed 

(pre-1987 section 

959(c)(3) balance)

(d) 

Hovering Deficit and 

Deduction for 

Suspended Taxes

(e) Previously Taxed E&P (see instructions)

 

(i) Section 965(a) 

Inclusion 

(section 959(c)(1)(A))

(ii) Section 965(b)(4)(A) 

(section 959(c)(1)(A))

1a Balance at beginning of year (as reported on prior 

year Schedule J) . . . . . . . . . . .

b Beginning balance adjustments (attach statement) 

c Adjusted beginning balance (combine lines 1a and 1b)

2a Reduction for taxes unsuspended under anti-splitter rules

b Disallowed deduction for taxes suspended under 

anti-splitter rules . . . . . . . . . . .

3 Current year E&P (or deficit in E&P) . . . . .

4 E&P attributable to distributions of previously

taxed E&P from lower-tier foreign corporation .

5a E&P carried over in nonrecognition transaction .

b Reclassify deficit in E&P as hovering deficit after

nonrecognition transaction . . . . . . . .

6 Other adjustments (attach statement) . . . .

7 Total current and accumulated E&P (combine lines 

1c through 6) . . . . . . . . . . . .

8 Amounts reclassified to section 959(c)(2) E&P from

section 959(c)(3) E&P . . . . . . . . .

9 Actual distributions . . . . . . . . . .

10 Amounts reclassified to section 959(c)(1) E&P from

section 959(c)(2) E&P . . . . . . . . .

11 Amounts included as earnings invested in U.S. property 

and reclassified to section 959(c)(1) E&P (see instructions)

12 Other adjustments (attach statement) . . . .

13 Hovering deficit offset of undistributed posttransaction E&P (see instructions) . . . . .

14 Balance at beginning of next year (combine lines 7 

through 13) . . . . . . . . . . . . .

For Paperwork Reduction Act Notice, see the Instructions for Form 5471. Cat. No. 21111K Schedule J (Form 5471) (Rev. 12-2019)
Schedule J (Form 5471) (Rev. 12-2019) Page 2

Part I Accumulated E&P of Controlled Foreign Corporation (continued)

(e) Previously Taxed E&P (see instructions)

(iii) Earnings Invested in 

U.S. Property 

(section 959(c)(1)(A))

(iv) Section 951A 

Inclusion 

(section 959(c)(1)(A))

(v) Section 245A(e)(2) 

Inclusion 

(section 959(c)(1)(A))

(vi) Section 959(e) 

(section 959(c)(1)(A))

(vii) Section 964(e)(4) 

Inclusion 

(section 959(c)(1)(A))

(viii) Section 951(a)(1)(A) 

Inclusion 

(section 959(c)(1)(A))

(ix) Earnings Invested in 

Excess Passive Assets 

(section 959(c)(1)(B))

(x) Section 965(a) 

Inclusion 

(section 959(c)(2))

1a

b

c

2a

b

3

4 

5a

b

6

7 

8 

9

10 

11 

12

13

14 

(e) Previously Taxed E&P (see instructions) (f) 

Total Section 964(a) E&P 

(combine columns (a), (b), (c), 

and (e)(i) through (e)(xvi))

(xi) Section 965(b)(4)(A) 

(section 959(c)(2))

(xii) Section 951A 

Inclusion 

(section 959(c)(2))

(xiii) Section 245A(e)(2) 

Inclusion 

(section 959(c)(2))

(xiv) Section 959(e) 

(section 959(c)(2))

(xv) Section 964(e)(4) 

Inclusion 

(section 959(c)(2))

(xvi) Section 951(a)(1)(A) 

Inclusion 

(section 959(c)(2))

 

1a

b

c

2a

b

3

4 

5a

b

6

7 

8 

9

10 

11 

12

13

14 

Schedule J (Form 5471) (Rev. 12-2019)
Schedule J (Form 5471) (Rev. 12-2019) Page 3

Part II Nonpreviously Taxed E&P Subject to Recapture as Subpart F Income (section 952(c)(2))

Important: Enter amounts in functional currency.

1 Balance at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ 1

2 Additions (amounts subject to future recapture) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ 2

3 Subtractions (amounts recaptured in current year) . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ 3

4 Balance at end of year (combine lines 1 through 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . ▶ 4

Schedule J (Form 5471) (Rev. 12-2019)