When making any changes or modifications to any of the areas below for an entity, we require you must 1) run the International calculations and 2) launch the Automated (Next Gen) Form 5471 for the entity BEFORE processing for e-File:
- Entity Properties (Entity Navigator)
- Entity Obligations and Obligation Properties
- Equity and Ownership
- Enter Amounts
- Income Tax Liability by Country
- International (Amount Sourcing, Tax Payments, Apportionment, E&P, §952(c) Losses, HTE Elections, §956 Amounts, etc.)
Even if the International calculations are locked down to keep amounts/results from changing, users are still required to launch the Automated (Next Gen) Form 5471 BEFORE processing for e-File if changes or modifications are made to certain areas such as Entity Obligations and Obligation Properties.
Failure to follow the steps above will result in an unchanged/unmodified Automated (Next Gen) Form 5471 in your e-File package. Remember to always review your returns in the e-File Package to ensure all Forms are complete and accurate.