Jacksonville Florida Form 5471 (Schedule O) 2012-2025

Jacksonville Florida Form 5471 (Schedule O): What You Should Know

S. Shareholders and the acquisition of shares in their foreign corporation in one or more classes of shares. Form 5471, Shed. O, Org. Or Reorg. Of Foreign — YouTube Form 5471, Shed. O, Org. Or Reorg. Of Foreign Corp., and Acquisitions & Dispositions Schedule Q: CFC Income by Classes — YouTube Form 5471. YouTube · Andrew Mitchel · Jun 27, 2025 · 8:19 AM · 5 comments The Part I schedule, Form 5471 (Schedule O), of Schedule O is designed to provide information of U.S. shareholders and their acquisition of shares for their foreign corporation. There is no separate schedule of CFC income by groups, such as one for each U.S. stock class in the foreign corporation. This is accomplished by including two separate schedules, part I and part II of Schedule O. (a) Schedule O provides information in column (a) of Part I of Form 5471 (Schedule O). (b) Schedules J and K provide information based on an acquisition by a U.S. shareholder of shares listed in column (b) of Schedule O from a CFC. Part 2 is designed to meet the reporting requirements of section 6038(c)(6) and section 6046(a). Part 2 of Schedule O of a CFC does not have to be filed if the foreign corporation is controlled by a U.S. shareholder who is not the initial or a CFC of the foreign corporation. The information relating to that U.S. shareholder that is not included in Part 2 of Form 5471 may still be included as a current information return by the U.S. shareholder to which such information is required to be reported. This, however, requires additional information, and the Schedule O does not serve that purpose.  If, however, the U.S. shareholder is a CFC of the foreign corporation, the information needed to comply with section 6038 or section 6046 is included in Part 2 of Form 5471 (Schedule O) and not on Schedule J-K of the original Schedule O. There are several ways to design a Schedule O schedule to satisfy the reporting requirements of sections 6038 and 6046.  A Schedule O is simply a series of instructions.

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