Instructions For Form 1120-Fsc - 2016 (Page 4 of 14) in pdf

When To File

Other Forms That May Be

The president, vice president, treasurer,

assistant treasurer, chief accounting officer

Required

Generally, a corporation must file Form

1120-FSC by the 15th day of the 4th month

Any other corporate officer (such as tax

The FSC may have to file some of the forms

after the end of its tax year. A FSC that has

officer) authorized to sign.

listed below. See the form for more

dissolved must generally file by the 15th day

information.

of the 4th month after the date it dissolved.

If a return is filed on behalf of a FSC by a

For a list of additional forms the FSC may

receiver, trustee, or assignee, the fiduciary

However, a FSC with a fiscal tax year

must sign the return, instead of the corporate

need to file (most notably, forms pertaining to

ending June 30 must file by the 15th day of

officer. Returns and forms signed by a

the reporting of various types of income, and

the 3rd month after the end of its tax year. A

receiver or trustee in bankruptcy on behalf of

any related withholding, to U.S. persons,

FSC with a short tax year ending anytime in

a FSC must be accompanied by a copy of

foreign persons, and the IRS), see Pub. 542,

June will be treated as if the short year

the order or instructions of the court

Corporations.

ended on June 30, and must file by the 15th

authorizing signing of the return or form.

Form 5471, Information Return of U.S.

day of the 3rd month after the end of its tax

Persons With Respect to Certain Foreign

year.

If an employee of the FSC completes

Corporations. This form may have to be filed

Form 1120-FSC, the paid preparer space

by certain U.S. officers, directors, or

If the due date falls on a Saturday,

should remain blank. Anyone who prepares

shareholders of a FSC to report changes in

Sunday, or legal holiday, the FSC may file on

Form 1120-FSC but does not charge the

ownership (see sections 6046 and the

the next business day.

FSC should not complete that section.

related regulations).

Generally, anyone who is paid to prepare the

Private delivery services. FSCs may use

If a Form 1120-FSC is filed, Form 5471 is

return must sign it and fill in the “Paid

certain

private delivery services

designated

not required to be filed to satisfy the

Preparer Use Only” area.

by the IRS to meet the “timely mailing as

requirements of section 6038 (see

timely filing” rule for tax returns. These

Temporary Regulations section 1.921-1T(b)

The paid preparer must complete the

private delivery services include only the

(3)). However, certain U.S. shareholders

required preparer information and:

following:

may be required to file Form 5471 and the

Sign the return in the space provided for

DHL Express: DHL Express 9:00, DHL

applicable schedules to report subpart F

the preparer's signature.

Express 10:30, DHL Express 12:00, DHL

income.

Give a copy of the return to the taxpayer.

Express Worldwide, DHL Express Envelope,

See the Instructions for Form 5471 for

DHL Import Express 10:30, DHL Import

more information.

Note. A paid preparer may sign original or

Express 12:00, and DHL Import Express

Form 5472, Information Return of a 25%

amended returns by rubber stamp,

Worldwide.

Foreign-Owned U.S. Corporation or a

mechanical device, or computer software

Federal Express (FedEx): FedEx First

Foreign Corporation Engaged in a U.S.

programs.

Overnight, FedEx Priority Overnight, FedEx

Trade or Business. Generally, a FSC that is

Standard Overnight, FedEx 2 Day, FedEx

Paid Preparer

engaged in a trade or business in the United

International Next Flight Out, FedEx

States that had a reportable transaction with

Authorization

International Priority, FedEx International

a foreign or domestic related party during the

First, and FedEx International Economy.

tax year must file Form 5472.

If the FSC wants to allow the IRS to discuss

United Parcel Service (UPS): UPS Next

Form 5713, International Boycott Report.

its tax return with the paid preparer who

Day Air Early AM, UPS Next Day Air, UPS

FSCs that had operations in, or related to,

signed it, check the “Yes” box in the

Next Day Air Saver, UPS 2nd Day Air, UPS

certain “boycotting” countries file

signature area of the return. This

2nd Day Air A.M., UPS Worldwide Express

Form 5713.

authorization applies only to the individual

Plus, and UPS Worldwide Express.

Form 8275, Disclosure Statement, and

whose signature appears in the “Paid

The private delivery service can tell you

Form 8275-R, Regulation Disclosure

Preparer Use Only” section of the return. It

how to get written proof of the mailing date.

Statement. Use these forms to disclose

does not apply to the firm, if any, shown in

items or positions taken on a tax return that

that section.

For the IRS mailing address to use if you

are not otherwise adequately disclosed on a

are using a private delivery service, go to

tax return or that are contrary to Treasury

If the “Yes” box is checked, the FSC is

IRS.gov and enter “private delivery services”

authorizing the IRS to call the paid preparer

regulations (to avoid parts of the

in the search box. Be sure to use the

to answer any questions that may arise

accuracy-related penalty or certain preparer

Ogden address.

penalties).

during the processing of its return. The FSC

Private delivery services cannot

is also authorizing the paid preparer to:

Form 8300, Report of Cash Payments

deliver items to P.O. boxes. You

Give the IRS any information that is

Over $10,000 Received in a Trade or

must use the U.S. Postal Service to

Business. Use this form to report the receipt

missing from the return,

CAUTION

mail any item to an IRS P.O. box address.

Call the IRS for information about the

of more than $10,000 in cash or foreign

currency in one transaction or a series of

processing of the return or the status of any

Extension of time to file. File Form 7004,

related refund or payment(s), and

related transactions.

Application for Automatic Extension of Time

Respond to certain IRS notices about

Assembling the Return

To File Certain Business Income Tax,

math errors, offsets, and return preparation.

Information, and Other Returns, to request

To ensure that the FSC's tax return is

an extension of time to file. Generally, the

The FSC is not authorizing the paid

correctly processed, attach all schedules

FSC must file Form 7004 by the return due

preparer to receive any refund check, bind

and other forms after page 6, Form

date specified earlier.

the FSC to anything (including any additional

1120-FSC, and in the following order:

tax liability), or otherwise represent the FSC

Where To File

1. Form 4136.

before the IRS.

2. Additional schedules in alphabetical

File Form 1120-FSC with the:

The authorization will automatically end

order.

Internal Revenue Service Center

no later than the due date (excluding

P.O. Box 409101

3. Additional forms in numerical order.

extensions) for filing the FSC's tax return. If

Ogden, UT 84409

the FSC wants to expand the paid preparer's

Complete every applicable entry space

authorization or revoke it before it ends, see

Who Must Sign

on Form 1120-FSC. Do not enter “See

Pub. 947, Practice Before the IRS and Power

Attached” or “Available Upon Request”

The return must be signed and dated by:

of Attorney.

instead of completing the entry spaces. If

Instructions for Form 1120-FSC (Rev. 12-2016)

-4-

Instructions For Form 1120-Fsc - 2016 Page 4

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