Consent To Extend the Time To Assess the Branch Profits

Tax Under Regulations Sections 1.884-2(a) and (c)

Department of the Treasury

Internal Revenue Service

Form 8848

(Rev. September 1999) OMB No. 1545-1407

Name of consenting taxpayer Employer identification number

The taxpayer listed above and the IRS Service Center Director, pursuant to the regulations under section 884, consent and

agree to the following:

Any branch profits tax due (relating to the complete termination described in item A above, or the section 381(a)

transaction described in item B above) on any income tax return made by or for the above taxpayer

for the tax year ended , , may be assessed at any time on or

before , (expiration date).

This consent establishes an extended period for assessing the branch profits tax. The expiration of the extended period

may be suspended or otherwise affected by the operation of law in the same manner as the original period. For example,

if a notice of deficiency in tax covered by this consent is issued, the period for assessing tax will not end prior to the end

of the suspension period provided for by section 6503(a), plus any time that remains in the assessment period, as

extended, at the time the suspension takes effect. Under no circumstances will this consent reduce the period of time

otherwise provided by law for making an assessment.

The consenting taxpayer may file a claim for credit or refund for the tax assessed because of this consent within 6

months after the period ends for assessing tax established by this consent.

Any deficiency assessment covered by this consent will be limited to any branch profits tax due relating to the complete

termination described in item A above or the section 381(a) transaction described in item B above, including any

consequential changes to other items based on that adjustment.

If the foreign corporation is filing Form 8848 because it has completely terminated all of its U.S. trade or business during

the tax year, check here

If the domestic transferee corporation is filing Form 8848 because U.S. assets have been transferred to it from a foreign

corporation in a section 381(a) transaction during the tax year, check here

● Enter the name, address, and employer identification number of the foreign transferor

● Enter the date of transfer 

Under penalties of perjury, I declare that I have examined this consent, including accompanying statements and schedules, and to the best of my knowledge and belief,

it is true, correct, and complete.

Corporate

Name

(Date signed)

1

2

3

4



A

B

Cat. No. 16321K

Attach to the corporation’s income tax return.

For Paperwork Reduction Act Notice, see page 2. Form 8848 (Rev. 9-99)

● Enter the year of complete termination 

Corporate

Officer(s)

sign here



Note: You must consent to extend the time to assess the tax to a date not earlier than the close of the 6th tax year

following the tax year during which the complete termination or section 381(a) transaction occurred.

(Date signed)

(Title)

(Title)

5 Complete only for domestic transferee corporations filing Form 8848 under item B above.

Note: Completing this item satisfies the requirement to attach Form 2045 outlined in Regulations section 1.884-2(c)(2)(iii).

In consideration of the Commissioner of Internal Revenue not issuing a notice of deficiency to and making an

assessment against the above-named foreign transferor, the undersigned, as transferee of assets received from the 

above-named foreign transferor, assumes and agrees to pay the amounts of any and all Federal income or 

profits taxes finally determined or adjudged as due and payable by such transferor for the tax years

ended , to the extent of the liability at law or in equity as transferee

within the meaning of section 6901 of the Internal Revenue Code and corresponding provisions of Internal Revenue laws.

Further: The undersigned agrees, in the absence of prior written consent of the Commissioner of Internal Revenue, not

to sell, transfer, or assign without adequate consideration, all or any substantial portion of its assets; and

Further: The undersigned has, by resolution of its board of directors, been authorized to enter into this agreement and

there is attached a copy of the minutes of its board of directors evidencing the authorization and that the terms of this

agreement have been included in its corporate minutes.
Paperwork Reduction Act Notice. We ask for the

information on this form to carry out the Internal Revenue

laws of the United States. You are required to give us the

information. We need it to ensure that you are complying

with these laws and to allow us to figure and collect the right

amount of tax.

The time needed to complete and file this form will vary

depending on individual circumstances. The estimated

average time is:

Recordkeeping 4 hr., 4 min.

Learning about the law or the form 47 min.

Preparing and sending the form to the IRS 54 min.

If you have comments concerning the accuracy of these

time estimates or suggestions for making this form simpler,

we would be happy to hear from you. See the instructions

for the tax return with which this form is filed.

Form 8848 (Rev. 9-99) Page 2

Instructions

Who Must File

● A foreign corporation must file Form 8848 if it has

completely terminated all of its U.S. trade or business

according to Regulations section 1.884-2(a) and Temporary

Regulations section 1.884-2T(a) during the tax year.

When To File

Signature

Form 8848 must be filed on or before the due date (including

extensions) prescribed for filing the corporation’s income tax

return. Attach Form 8848 to the corporation’s return for the

tax year during which the complete termination or section

381(a) transaction occurred.

● A domestic transferee corporation must file Form 8848 if

U.S. assets have been transferred to it from a foreign

corporation in a transaction described in section 381(a), if the

foreign corporation was engaged (or deemed engaged) in the

conduct of a U.S. trade or business immediately prior to the

section 381(a) transaction. See Regulations section

1.884-2(c) and Temporary Regulations section 1.884-2T(c).

Form 8848 must be signed by the person authorized to sign

the income tax returns for the corporation (including an agent

authorized to do so under a general or specific power of

attorney). If an agent signs for the corporation, include a

copy of the power of attorney with Form 8848.

You are not required to provide the information requested

on a form that is subject to the Paperwork Reduction Act

unless the form displays a valid OMB control number. Books

or records relating to a form or its instructions must be

retained as long as their contents may become material in

the administration of any Internal Revenue law. Generally, tax

returns and return information are confidential, as required by

section 6103.

Form 8848 (Rev. 9-99)

If the corporation timely filed its return for the tax year

during which the complete termination or section 381(a)

transaction occurred without executing a consent to extend

the time to assess the branch profits tax under Regulations

sections 1.884-2(a) and (c), the corporation may still execute

the consent by filing an amended return within 6 months of

the due date of the original return (excluding extensions).

Attach Form 8848 to the amended return and write “Filed

pursuant to section 301.9100-2” at the top of Form 8848.

File the amended return at the same address the original

return was filed.