Note: The form, instructions, or publication you are looking 

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Please review the updated information below.

Change to the Instructions for Form 8991, Schedule A, Line 9b

With the issuance of Notice 2022-30, it is necessary to update the second paragraph of the 

Schedule A, line 9b, instructions for Form 8991. The second paragraph is revised as 

follows.

A taxpayer meets the reporting requirement of Regulations sections 1.59A-6(b)(2) and 

1.6038A-2(b)(7)(ix) by entering the amount on line 9b. For tax years beginning in or after 

2025, a taxpayer will also need to provide a representation that all payments satisfy the 

requirements of Regulations section 1.59A-6(b)(2) and meet the reporting requirements of 

Regulations section 1.59A-6(b)(2) and 1.6038A-2(b)(7)(ix). 
Form 8991

(Rev. December 2020)

Department of the Treasury 

Internal Revenue Service

Tax on Base Erosion Payments of Taxpayers With 

Substantial Gross Receipts

For tax year beginning , 20 , and ending , 20

▶ Go to www.irs.gov/Form8991 for instructions and the latest information.

▶ See instructions.

OMB No. 1545-0123

Name Employer identification number

Part I Applicable Taxpayer Determination

Check box if this form is being filed by a taxpayer with which another taxpayer has been aggregated under Regs. section 1.59A-2(c) ▶

If the above box is checked, attach a statement listing the names and EINs of all separate taxpayers taken into account in the 

determination of “1 person” under Regs. section 1.59A-2(c).

(a) (b) (c)

First 

Preceding 

Tax Year

Second 

Preceding 

Tax Year

Third 

Preceding 

Tax Year

 1a Gross receipts of the taxpayer. See instructions . . . . . . . . . .

b Gross receipts from partnerships . . . . . . . . . . . . . . .

c Gross receipts of all other persons treated as 1 person pursuant to Regs. 

section 1.59A-2(c) . . . . . . . . . . . . . . . . . . . .

d Gross receipts. Combine lines 1a through 1c . . . . . . . . . . .

e Gross receipts of first, second, and third preceding tax years. Combine columns (a), (b), and (c) of line

1d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1e

f 3-year average annual gross receipts. See instructions . . . . . . . . . . . . . . . . 1f

g Is line 1f $500 million or more?

Yes. Continue to line 2.

No. STOP here and attach this form to your tax return.

2a Base erosion tax benefit (from Schedule A, line 15, column (a-2)). . . . . . . . . . . . . 2a

b Amount of deductions allowed under Chapter 1 of the Internal Revenue Code . . . . . . . . 2b

c Base erosion tax benefits resulting from reductions in insurance premiums

reported on Schedule A, line 8, column (a-2) . . . . . . . . . . . . 2c

d Base erosion tax benefits resulting from reductions in gross receipts reported on

Schedule A, line 10, column (a-2) . . . . . . . . . . . . . . . . 2d

e Add lines 2c and 2d . . . . . . . . . . . . . . . . . . . . . . . . . . . 2e

f Total deductions for amounts paid or accrued for services to which the exception

under Regs. section 1.59A-3(b)(3)(i) applies (from Schedule A, line 5b) . . . . 2f

g Qualified derivative payments excepted by Regs. section 1.59A-6(b) . . . . 2g

h Total deductions allowed under sections 172, 245A, and 250 for the tax year. . 2h

i Does the taxpayer elect to waive deductions in accordance with Regulations

section 1.59A-3(c)(6)(i)? . . . . . . . . . . . . . . . . . . . 2i

Yes. Complete Schedule B. Enter the amount from line 15 of Schedule B.

No. Enter -0-.

j Deductions for exchange losses from section 988 transactions described in

Regulations section 1.59A-2(e)(3)(ii)(D) . . . . . . . . . . . . . . 2j

k Deductions for TLAC securities and foreign TLAC securities described in

Regulations section 1.59A-2(e)(3)(ii)(E) . . . . . . . . . . . . . . 2k

l Reinsurance losses incurred and claims payments described in Regulations

section 1.59A-2(e)(3)(ii)(F) . . . . . . . . . . . . . . . . . . . 2l

m Combine lines 2f through 2l . . . . . . . . . . . . . . . . . . . . . . . . . 2m

n Total Deductions. Subtract line 2m from the sum of line 2b and line 2e . . . . . . . . . . 2n

o Base Erosion Percentage. Divide line 2a by line 2n . . . . . . . . . . . . . . . . . 2o %

p Is the taxpayer’s base erosion percentage on line 2o 3% or higher (2% or higher for a bank or securities 

dealer)?

Yes. Continue to Part II.

No. STOP after completing Part I and Schedule A (and, if necessary, Schedule B) and attach this 

form to your tax return.

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 37815N Form 8991 (Rev. 12-2020)
Form 8991 (Rev. 12-2020) Page 2

Part II Modified Taxable Income (MTI)

3a Taxable income after net operating loss. See instructions . . . . . . . . . . . . . . . 3a

b Base erosion tax benefits for the tax year from Schedule A, line 15, column (b-2) . . . . . . . 3b

c Base erosion percentage of the net operating loss deduction allowed under section 172 for the tax year. 

See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3c

d Modified Taxable Income. See instructions . . . . . . . . . . . . . . . . . . . 3d

Part III Regular Tax Liability Adjusted for Purposes of Computing Base Erosion Minimum Tax Amount

4a Regular tax liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a

b Allowed credits, as adjusted (from Schedule C, line 7) . . . . . . . . . . . . . . . . 4b

c Regular tax liability adjusted for purposes of computing Base Erosion Minimum Tax Amount. Subtract 

line 4b from line 4a . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4c

Part IV Computation of Base Erosion Minimum Tax Amount

5a Modified Taxable Income (from line 3d) . . . . . . . . . . . . . . . . . . . . . 5a

b BEAT Tax rate applicable for current tax year . . . . . . . . . . . . . . . . . . . 5b %

c Base Erosion Minimum Tax. Multiply line 5a by line 5b . . . . . . . . . . . . . . . . 5c

d Regular tax liability adjusted for purposes of computing Base Erosion Minimum Tax Amount (from 

line 4c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5d

e Base Erosion Minimum Tax Amount. Subtract line 5d from line 5c. If zero or less, enter -0- . . . 5e

Form 8991 (Rev. 12-2020)
Form 8991 (Rev. 12-2020) Page 3

Schedule A Base Erosion Payments and Base Erosion Tax Benefits (see instructions)

Does the taxpayer elect to use financial statements per Regs. section 1.59A-3(b)(4)(i)(D) for purposes of calculating interest expense 

allocable to a foreign corporation’s effectively connected income? Yes No

(Check all applicable boxes in 

columns (c), (d), and (e) below)

(a-1) (a-2) (b-1) (b-2) (c) (d) (e)

Type of Base Erosion Payments

Aggregate 

Group’s Base 

Erosion Payments

Aggregate 

Group’s Base 

Erosion Tax 

Benefits

Taxpayer’s Base 

Erosion Payments

Taxpayer’s Base 

Erosion Tax 

Benefits

Any 25% 

Owner of 

the Taxpayer

Person Related 

Under Sections 

267(b) or 

707(b)(1) to the 

Taxpayer or Any 

25% Owner of 

the Taxpayer

Any Person 

Related Within 

the Meaning of 

Section 482 

to the Taxpayer

1 Reserved for future use . . . . . . . . . . . . . .

2 Reserved for future use . . . . . . . . . . . . . .

3 Purchase or creations of property rights for intangibles (patents, 

trademarks, etc.) . . . . . . . . . . . . . . . .

4 Rents, royalties, and license fees . . . . . . . . . . .

5a Compensation/consideration paid for services NOT excepted by 

Regs. section 1.59A-3(b)(3)(i) . . . . . . . . . . . .

b Compensation/consideration paid for services excepted by Regs. 

section 1.59A-3(b)(3)(i) . . . . . . . $

6 Interest expense . . . . . . . . . . . . . . . .

7 Payments for the purchase of tangible personal property . . .

8 Premiums and/or other considerations paid or accrued for 

insurance and reinsurance as covered by Regs. section 1.59A-3(b)

(1)(iii) . . . . . . . . . . . . . . . . . . . .

Form 8991 (Rev. 12-2020)
Form 8991 (Rev. 12-2020) Page 4

Schedule A Base Erosion Payments and Base Erosion Tax Benefits (see instructions) (continued from page 3) 

(Check all applicable boxes in 

columns (c), (d), and (e) below)

(a-1) (a-2) (b-1) (b-2) (c) (d) (e)

Type of Base Erosion Payments

Aggregate 

Group’s Base 

Erosion Payments

Aggregate 

Group’s Base 

Erosion Tax 

Benefits

Taxpayer’s Base 

Erosion Payments

Taxpayer’s Base 

Erosion Tax 

Benefits

Any 25% 

Owner of 

the Taxpayer

Person Related 

Under Sections 

267(b) or 

707(b)(1) to the 

Taxpayer or Any 

25% Owner of 

the Taxpayer

Any Person 

Related Within 

the Meaning of 

Section 482 

to the Taxpayer

9a Nonqualified derivative payments . . . . . . . . . . .

b Qualified derivative payments excepted by Regs. section 

1.59A-6(b) . . . . . . . . . . . $

10 Payments reducing gross receipts made to surrogate foreign 

corporation . . . . . . . . . . . . . . . . . .

11 Other payments—specify . . . . . . . . . . . . .

12 Combine lines 3 through 11 . . . . . . . . . . . .

13 Base erosion tax benefits related to payments reported on lines 3 

through 11, on which tax is imposed by section 871 or 881, with 

respect to which tax has been withheld under section 1441 or 

1442 at 30% statutory withholding tax rate . . . . . . .

14 Portion of base erosion tax benefits reported on lines 3 through 

11, on which tax is imposed by section 871 or 881, with respect 

to which tax has been withheld under section 1441 or 1442 at 

reduced withholding rate pursuant to income tax treaty. Multiply 

ratio of percentage withheld divided by 30% times tax benefit. 

See instructions . . . . . . . . . . . . . . . .

15 Total base erosion tax benefits. Subtract the sum of line 13 and 

line 14 from line 12. Enter the amount from column (a-2) in Part I, 

line 2a. Enter the amount from column (b-2) in Part II, line 3b .

Form 8991 (Rev. 12-2020)
Form 8991 (Rev. 12-2020) Page 5

Schedule B Waiver of Deductions (see instructions) 

(a) 

Description of item or property to which the 

deduction relates

(b) 

Date on which, or 

period in which, 

the waived 

deduction was 

paid or accrued

(c) 

Provision of Code 

and regulations, 

as applicable, that 

allows the 

deduction for 

which this 

election relates

(d) 

Line number on 

the controlled 

group member tax 

return where the 

deduction is 

reported

(e) 

Name of foreign 

related party that 

is or will be the 

recipient of the 

payment that 

generates the 

deduction

(f) 

Taxpayer 

Identification 

Number of foreign 

related party

(g) 

Country of 

organization of 

the foreign 

related party

(h) 

Amount of 

deduction claimed 

for the tax year 

with respect to the 

item or property

(i) 

Amount of 

deduction being 

waived for the tax 

year with respect 

to the item or 

property

1

2

3

4

5

6

7

8

9

10

11

12

13

14 Totals from attachment, if necessary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15 Total deductions waived per Regulations section 1.59A-3(c)(6)(i). Add the amounts in column (i). Enter the result here and on Part I, line 2i . . . . .

Form 8991 (Rev. 12-2020)
Form 8991 (Rev. 12-2020) Page 6

Schedule C Credits Reducing Regular Tax Liability in Computing Base Erosion Minimum Tax Amount (BEMTA)

Part I Credits Allowed Against Regular Tax (see instructions)

1 Total credits allowed in current year. See instructions . . . . . . . . . . . . . . . . 1

2 Credits for increasing research activities from line 1c of all Parts III of Form 3800 2

3 Total allowed credit for increasing research activities for current year. Enter the amount of research

credit reported in Form 3800, Part II, line 38. See instructions . . . . . . . . . . . . . . 3

4 Enter smaller of Schedule C, Part II, line 11, or Part III, line 16 . . . . . . . . . . . . . . 4

5 Limitation of applicable section 38 credits. Multiply line 4 by 80% (0.80) . . . . . . . . . . 5

6 Adjustments to allowed credits. Add lines 3 and 5 . . . . . . . . . . . . . . . . . 6

7 Credits allowed against regular tax in computing BEMTA. Subtract line 6 from line 1. Enter here and 

on Form 8991, line 4b . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

Part II Applicable Section 38 Credits 

(Only complete Parts II and III if you have allowed applicable section 38 credits.)

8 Low-income housing credit from lines 1d and 4d of all Parts III of Form 3800 . . 8

9 Renewable electricity production credit but only to extent of the renewable 

electricity under section 45(a) from lines 1f and 4e of all Parts III of Form 3800 . 9

10 Investment credit but only to extent of energy credit property under section 48 

from line 4a of all Parts III of Form 3800 . . . . . . . . . . . . . . 10

11 Total allowed applicable section 38 credits for current year. Enter the amount of applicable credits 

reported in Form 3800, Part II, line 38. See instructions . . . . . . . . . . . . . . . . 11

Part III BEMTA Determined Without Adjustment for Applicable Section 38 Credits

12 Base erosion minimum tax (Form 8991, line 5c) . . . . . . . . . . . . . . . . . . 12

13 Regular tax liability (Form 8991, line 4a) . . . . . . . . . . . . . . . . . . . . . 13

14 Subtract Schedule C, Part I, line 3, from line 1 . . . . . . . . . . . . . . . . . . . 14

15 Regular tax adjusted for credits that offset BEMTA. Subtract line 14 from line 13 . . . . . . . 15

16 Base erosion minimum tax determined without adjustment for applicable section 38 credits. Subtract 

line 15 from line 12; if zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . 16

Form 8991 (Rev. 12-2020)