Form 926 - Return By A U.s. Transferor Of Property To A Foreign Corporation - Internal Revenue Service Page 4
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Form 926 (Rev. 12-2005)
Page
Election, or a termination of a section 1504(d) election), check
Lines 1 and 2
the “Yes” box. If the transfer was an actual transfer of property
Line 1a. If you answered “Yes” to question 1a and the
to a foreign corporation, check the “No” box.
asset is a tangible asset, section 367(a)(5) may require
Line 13. See Temporary Regulations sections 1.367(a)-4T
basis adjustments. If you answered “No” to question 1a
through 1.367-6T for instances in which a transferor must
and the asset is a tangible asset, the transfer is taxable
recognize income on the transfer of tangible property that
under sections 367(a)(1) and (a)(5). If the asset transferred
qualifies for nonrecognition treatment (see section
is an intangible asset, see section 367(d) and its
367(a)(3) and Temporary Regulations section 1.367(a)-2T).
regulations.
Additional information is required to be attached to this
Line 1b. If the transferor went out of existence pursuant
form. See Temporary Regulations sections
to the transfer (e.g., as in a reorganization described in
1.6038B-1T(c)(4)(iii) and (vii), and 1.6038B-1T(c)(5).
section 368(a)(1)(C)), list the controlling shareholders.
Line 14a. If you checked the “Yes” box, additional
Line 1c. If the transferor was a member of an affiliated
information is required to be attached to this form. See
group filing a consolidated tax return (see sections 1501
Temporary Regulations section 1.6038B-1T(d).
through 1504), but was not the parent corporation, list the
Line 14b. See Temporary Regulations section
name and EIN of the parent corporation and file Form 926
1.6038B-1T(d).
with the parent corporation’s consolidated return.
Line 2. If the actual transferor was a partnership, the
domestic partners of the partnership, not the partnership
Paperwork Reduction Act Notice. We ask for the
itself, are deemed to be the transferors. See Temporary
information on this form to carry out the Internal Revenue
Regulations section 1.367(a)-1T(c)(3). List the name and
laws of the United States. You are required to give us the
identification number of the partnership.
information. We need it to ensure that you are complying
with these laws and to allow us to figure and collect the
Part II—Transferee Foreign Corporation
right amount of tax.
Information
You are not required to provide the information
Line 7. List the entity classification (e.g., partnership,
requested on a form that is subject to the Paperwork
corporation, etc.) of the transferee foreign corporation
Reduction Act unless the form displays a valid OMB
under the laws of the country of incorporation or
control number. Books or records relating to a form or its
organization.
instructions must be retained as long as their contents
Line 8. See section 957(a) to determine whether the
may become material in the administration of any Internal
corporation is a controlled foreign corporation immediately
Revenue law. Generally, tax returns and return information
after the transfer.
are confidential, as required by section 6103.
The time needed to complete and file this form will vary
Part III—Information Regarding Transfer of
depending on individual circumstances. The estimated
Property
burden for individual taxpayers filing this form is approved
Line 10. List the type of nonrecognition transaction that
under OMB control number 1545-0074 and is included in
gave rise to the reporting obligation (e.g., section 332,
the estimates shown in the instructions for their individual
351, 354, 356, or 361).
income tax return. The estimated burden for all other
Line 11. Give a brief description of the property
taxpayers who file this form is shown below.
transferred and attach to Form 926 the information
Recordkeeping
5 hr., 30 min.
required under Regulations sections 1.6038B-1(c) and
Learning about the law or the form
4 hr., 10 min.
Temporary Regulations sections 1.6038B-1T(c)(1) through
Preparing and sending
1.6038B-1T(c)(5) and 1.6038B-1T(d).
the form to the IRS
4 hr., 26 min.
Line 12. If this transfer resulted from a change in the
If you have comments concerning the accuracy of
classification of the transferee to that of a foreign
these time estimates or suggestions for making this form
corporation (a deemed transfer resulting from a
simpler, we would be happy to hear from you. See the
classification change on Form 8832, Entity Classification
instructions for the tax return with which this form is filed.
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