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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 965
for the current year.
IRS Form 965 Inclusion of Deferred Foreign Income Upon Transition to Participation Exemption System
What Is IRS Form 965?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on January 1, 2020. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 965?A: IRS Form 965 is a form used to report the inclusion of deferred foreign income upon transition to the participation exemption system.
Q: What is the purpose of IRS Form 965?A: The purpose of IRS Form 965 is to report and calculate the amount of deferred foreign income that is being included in income due to the transition to the participation exemption system.
Q: What is deferred foreign income?A: Deferred foreign income refers to the accumulated profits of certain foreign corporations that have not been previously subject to U.S. tax.
Q: What is the participation exemption system?A: The participation exemption system is a tax system that exempts certain foreign income from U.S. taxation.
Q: Who needs to file IRS Form 965?A: U.S. shareholders of specified foreign corporations must file IRS Form 965.
Q: When is IRS Form 965 due?A: The due date for filing IRS Form 965 is determined by the applicable transition tax installmentpayment due date.
Form Details:
- A 1-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
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