FILEABROAD — FORM 5471 PREPARATION WORKSHEET
Updated October 23, 2026 | Save or print; no email required
Companion: https://fileabroad.com/blog/form-5471-filing-categories

Use one worksheet per foreign corporation and accounting period.
This records facts for a review. It does not select filing categories, determine
U.S. entity classification, calculate tax, or replace applicable IRS instructions.
Do not enter account numbers or tax IDs in a public inquiry. Keep the completed
worksheet private and use the secure delivery process agreed for an engagement.

1. RETURN AND ENTITY
Taxpayer return year: ______________  Corporation accounting period: __________
Legal company name / country: ________________________________________________
Local legal form and formation date: _________________________________________
U.S. tax classification / evidence or unresolved question: ____________________
Applicable Form 5471 instruction revision: ____________________________________
Entity chart prepared? [ ] Yes [ ] No     Prior filings found? [ ] Yes [ ] No

2. OWNERSHIP EVENTS (add rows/pages as needed)
Date | Owner | U.S. status | Event | Vote % before/after | Value % before/after
____ | _____ | ___________ | _____ | ___________________ | ____________________
____ | _____ | ___________ | _____ | ___________________ | ____________________
____ | _____ | ___________ | _____ | ___________________ | ____________________

Record all share classes and changes. Identify direct and indirect holdings,
family/entity/trust relationships, options and other attribution questions.
Do not equate voting power with value without checking the share rights.
Supporting registers, agreements and valuation records: _______________________
Officer/director names, U.S. status and dates: ________________________________
Changes in citizenship/residency or tax classification: _______________________

3. CATEGORY REVIEW — TO COMPLETE WITH THE APPLICABLE INSTRUCTIONS
Category | Facts that may trigger it | Exceptions/questions | Schedule plan
1a/1b/1c | __________________________ | ____________________ | ______________
2        | __________________________ | ____________________ | ______________
3        | __________________________ | ____________________ | ______________
4        | __________________________ | ____________________ | ______________
5a/5b/5c | __________________________ | ____________________ | ______________

More than one category may apply. Use the IRS category chart, footnotes and
additional requirements; this worksheet is not a schedule checklist.
Another person filing the same information? _________________________________
Required joint-filer statements/schedules confirmed? _________________________

4. FINANCIAL AND HISTORICAL RECORDS
[ ] Financial statements, trial balance and accounting policies
[ ] Transactions with owners/related parties; loans and capital contributions
[ ] Foreign tax returns, payments, accruals, refunds and supporting currencies
[ ] Distributions, acquisitions, sales, reorganizations and liquidation records
[ ] Prior Forms 5471 and schedules, earnings-and-profits/PTEP workpapers
[ ] Prior elections, income-inclusion calculations and shareholder basis
[ ] Ownership chart for upstream/downstream entities and historical changes
Missing records / who will request them / target date:
_____________________________________________________________________________
_____________________________________________________________________________

5. QUESTIONS AND AGREED SCOPE
Unresolved classification, ownership attribution or legal question:
_____________________________________________________________________________
Tax/accounting periods affected: _____________________________________________
Preparation scope agreed: ___________________________________________________
Additional specialist work required: _________________________________________

CURRENT OFFICIAL STARTING POINTS
https://www.irs.gov/forms-pubs/about-form-5471
https://www.irs.gov/instructions/i5471
The companion article's examples use the December 2025 instruction revision.
Use the rules and instructions applicable to the actual return year.