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Form 8858 - Information return of U.S. persons with respect to Foreign Disregarded Entities (FDEs) and Foreign Branches (FBs)

Form 8858, Page 1: Organizational chart automation data entry

The system automatically transfers organizational chart information for foreign entities to either Form 5471, Schedule O, or Form 8858 depending on the binder's attributes. The chart's transferred to Organizer when you select
International Compute
,
Transfer to US5471, US8865 and US8858 (Organization Chart)
.
The system builds the ownership structure from the information in the Top Consolidation's
International Members
 screen, as well as the
Country of Incorporations/Organization and Tax Classification
 fields in
Binder Properties
,
International
.
An individual entry in the
Organizer Chart - INTL
 folder's created for each entity in the chain of ownership from the foreign division filing the return to the top tier FTC parent.
  • The transfer of the organization chart doesn't require that E&P, Look Through or Subpart F calculations are run.
  • Select
    Lock the entity information transferred in from International Compute
     to prevent additional updates to the Organizer screens. Using this option's particularly important if the INTL chart's manually updated.
The parent entity selected in the Top Consolidation binder's Domestic Members screen will be identified as the top tier filer. Any foreign tax credit entity without a parent will be considered own 100% by this parent.
The order of entities in the Organization Chart - INTL folder:
  • FTC parent from domestic members screen
  • FTC legal entities sorted by tier and company name
  • Foreign legal entities (non-partnership entities) ordered by tier and company name
  • Foreign partnerships appear immediately below its highest tier owner
  • Foreign disregarded entity immediately below its related Divisional Consolidation
  • Unrelated FTC entities by company name
  • Unrelated foreign entities by company name

This article applies to:

  • Product: ONESOURCE Income Tax
  • Return type: 1120 Corporation
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