Form 1120-F - Tax Return of a Foreign Corporation
Form 1120-F is used by a company set up outside of the U.S. but with U.S. source income.
CALCULATING THE U.S. TAX FOR THE FOREIGN CORPORATION
On the 1120-F tax form, you report all income and expenses from the U.S.
The income is split into sections:
Income from U.S. sources not connected with trading in the U.S.
Income effectively connected with a trade of business in the U.S.
BRANCH PROFITS TAX
A separate balance sheet will need to be prepared for all the assets and liabilities in the U.S. for the foreign corporation.
When To File
If the foreign corporation maintains an office or place of business in the U.S. the due date is April 15 (or on the 15th day of the 4th month after the end of the tax year if not filing on a calendar year).
If the foreign corporation has no office or place of business in the U.S. the filing deadline is June 15 (or on the 15th day of the 6th month after the end of the tax year if not filing on a calendar year).
Next Steps
If you do need to file a foreign corporation income tax return or have any other Form 1120F questions, feel free to contact one of our U.S. expat accountants and tax preparers here.