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Department of the Treasury
Internal Revenue Service
OMB No. 1545-0123

SCHEDULE J (Form 5471)
(Rev. December 2020)
Accumulated Earnings & Profits (E&P) of Controlled Foreign Corporation

• Attach to Form 5471.
• Go to www.irs.gov/Form5471 for instructions and the latest information.

Name of person filing Form 5471 ----
Identifying number ----
Name of foreign corporation ----
EIN (if any) ----
Reference ID number (see instructions) ----
a Separate Category (Enter code-see instructions.) ----
b If code 901j is entered on line a, enter the country code for the sanctioned country (see instructions) ----

Part I Accumulated E&P of Controlled Foreign Corporation

-- Check the box if person filing return does not have all U.S. shareholders’ information to complete an amount in column (e) (see instructions).

Important: Enter amounts in functional currency. 

1a Balance at beginning of year (as reported on prior year Schedule J)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
1b Beginning balance adjustments (attach statement)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
1c Adjusted beginning balance (combine lines 1a and 1b)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
2a Reduction for taxes unsuspended under anti-splitter rules
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
2b Disallowed deduction for taxes suspended under anti-splitter rules
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
3 Current year E&P (or deficit in E&P) (enter amount from applicable line 5c of Schedule H)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
4 E&P attributable to distributions of previously taxed E&P from lower-tier foreign corporation
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
5a E&P carried over in nonrecognition transaction
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
5b Reclassify deficit in E&P as hovering deficit after nonrecognition transaction
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
6 Other adjustments (attach statement)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
7 Total current and accumulated E&P (combine lines 1c through 6)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
8 Amounts reclassified to section 959(c)(2) E&P from section 959(c)(3) E&P
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
9 Actual distributions
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
10 Amounts reclassified to section 959(c)(1) E&P from section 959(c)(2) E&P
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
11 Amounts included as earnings invested in U.S. property and reclassified to section 959(c)(1) E&P (see instructions)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
12 Other adjustments (attach statement)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
13 Hovering deficit offset of undistributed post-transaction E&P (see instructions)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
14 Balance at beginning of next year (combine lines 7 through 13)
(a) Post-2017 E&P Not Previously Taxed (post-2017 section 959(c)(3) balance) ----
(b) Post-1986 Undistributed Earnings (post-1986 and pre-2018 section 959(c)(3) balance) ----
(c) Pre-1987 E&P Not Previously Taxed (pre-1987 section 959(c)(3) balance) ----
(d) Hovering Deficit and Deduction for Suspended Taxes ----
(e) Previously Taxed E&P (see instructions)
(i) Reclassified section 965(a) PTEP ----
(ii) Reclassified section 965(b) PTEP ----
For Paperwork Reduction Act Notice, see the Instructions for Form 5471.
Cat. No. 21111K
Schedule J (Form 5471) (Rev. 12-2020)

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Schedule J (Form 5471) (Rev. 12-2020)
Page 2

1a
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
1b
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
1c 
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
2a
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
2b
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
3
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
4
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
5a
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
5b
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
6
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
7
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
8
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
9
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
10
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
11
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
12
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
13
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----
14
(e) Previously Taxed E&P (see instructions)
(iii) General section 959(c)(1) PTEP ----
(iv) Reclassified section 951A PTEP ----
(v) Reclassified section 245A(d) PTEP ----
(vi) Section 965(a) PTEP ----
(vii) Section 965(b) PTEP ----

1a
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
1b
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
1c 
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
2a
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
2b
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
3
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
4
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
5a
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
5b
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
6
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
7
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
8
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
9
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
10
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
11
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
12
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
13
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
14
(e) Previously Taxed E&P (see instructions)
(viii) Section 951A PTEP ----
(ix) Section 245A(d) PTEP ----
(x) Section 951(a)(1)(A) PTEP ----
(f) Total Section 964(a) E&P (combine columns (a), (b), (c), and (e)(i) through (e)(x)) ----
Schedule J (Form 5471) (Rev. 12-2020)

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Schedule J (Form 5471) (Rev. 12-2020)
Page 3

Part II Nonpreviously Taxed E&P Subject to Recapture as Subpart F Income (section 952(c)(2))

Important: Enter amounts in functional currency.

1 Balance at beginning of year ----
2 Additions (amounts subject to future recapture) ----
3 Subtractions (amounts recaptured in current year) ----
4 Balance at end of year (combine lines 1 through 3) ----

Schedule J (Form 5471) (Rev. 12-2020)
