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United States: Updated FAQs, information about country-by-country reporting

US: Updated FAQs, information about CbC reporting

The IRS today issued a release announcing updates and information concerning country-by-country (CbC) reporting requirements in the United States.


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The IRS transmittal message lists the following four items or updates.

  • New CbC reporting “frequently asked questions” (FAQs)

  • A status update of jurisdictions with recently signed Competent Authority Arrangements for the exchange of CbC reports (in table format)

  • A reminder for U.S. multinational enterprises (MNEs) filing paper versions of Form 8975 and Schedules A (Form 8975) to follow the instructions carefully because Form 8975 data received on paper must contain appropriate entries (as described in the instructions to be converted for electronic exchange)

  • A reminder for U.S. MNEs amending Form 8975 and Schedules A (Form 8975) to follow the amended return instructions and to check the amended report “checkbox” at the top of Form 8975

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