Instructions For Schedule V (Form 1120-F) - 2009 (Page 2 of 2) in pdf

If you derive USSGTI subject to a 4%

for the vessel or aircraft, and the

a vessel or aircraft is under charter, one

rate of tax under section 887 from more

calculations used to apply this method

reasonable method of determining the

than 4 vessels or aircraft, attach separate

(see the Note in the instructions for line 9

portion of such charter income which is

sheets using the same size and format as

for examples of reasonable methods that

USSGTI is to apply to such charter

this Schedule V (Form 1120-F).

may be used).

income the ratio of (a) the number of

days of uninterrupted travel on voyages

Line 1. Enter the name of the vessel or

Line 5. Enter the name of the registered

or flights between the United States and

type of aircraft.

owner. If you are the registered owner,

the farthest point(s) where cargo or

Line 2. For each column, if you are

enter “Same as filer name above” on line

passengers are loaded en route to, or

completing the column for a vessel, enter

discharged en route from, the United

the Lloyd’s register number on line 2. If

Line 6. Enter the employer identification

States, to (b) the number of days in the

you are completing the column for an

number (EIN) or social security number

smaller of the tax year or the particular

aircraft, enter the registration number on

(SSN) of the registered owner if known. If

charter period. When determining

line 2.

you are the registered owner, enter

USSGTI, the number of days the vessel is

Line 3. For each column, if the answer

“Same as filer EIN or SSN above” on line

located in United States waters for repairs

to the question on line 3 is “Yes” and you

6. If you are not the registered owner and

or maintenance should not be included in

operate the vessel or aircraft which is

you do not know the EIN or SSN of the

either the numerator or in the

under a bareboat lease or sublease to

registered owner, enter ‘‘Not known.’’

denominator of the ratio.

you, attach to Schedule V (Form 1120-F)

Line 7. Enter the name of the operator if

Another reasonable method would be

the following items:

known. If you are the operator, enter

to use a ratio based on the USSGTI

1. The name and address of the

“Same as filer name above” on line 7. If

earned from the operation of the vessel or

lessor of the vessel or aircraft; and

you are not the operator and you do not

aircraft by the lessee-operator, compared

2. The term of the bareboat lease or

know the name of the operator, enter

with the total gross income of the

charter and the method for calculating the

‘‘Not known.’’

lessee-operator from the operation of the

rental portion of the payment.

vessel or aircraft during the smaller of the

Line 8. Enter the EIN or SSN of the

tax year or the term of the charter.

operator if known. If you are the operator,

Line 4. For each column, if the answer

However, an allocation based on the net

enter “Same as filer EIN or SSN above”

to the question on line 4 is “Yes” and you

income of the lessee-operator will not be

on line 8. If you are not the operator and

are the bareboat lessor of the vessel or

considered reasonable for this purpose.

you do not know the EIN or SSN of the

aircraft, attach to Schedule V (Form

operator, enter ‘‘Not known.’’

1120-F) the following items:

Important: A description of the

Line 9. For each column, enter the

method used to determine the USSGTI

1. The country of registration of the

from the vessel or aircraft must be

USSGTI the corporation derived with

vessel or aircraft,

respect to the vessel or aircraft. See

attached to this Schedule V (Form

2. Name and address of each lessee

Definitions on page 1 for additional

1120-F).

or person chartering the vessel or aircraft

information.

Line 11. If the foreign corporation is

from you,

claiming a treaty exemption on its

Note. In determining the amount of

3. The term of the lease,

USSGTI, the foreign corporation must

USSGTI, enter the amount on line 11 and

4. The number of days during the tax

attach Form 8833, Treaty-Based Return

year the vessel or aircraft was under

establish the actual amount of USSGTI

Position Disclosure Under Section 6114

derived from a charter under a

lease, and

or 7701(b).

5. A description of the method used to

reasonable method. For example, where

determine the USSGTI from the leases

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Instructions For Schedule V (Form 1120-F) - 2009 Page 2

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