2416: Schedule of Included Controlled Foreign Corporations (CFC) (2024)
California · FTB · Used for tax years 2024
California Form 2416 is a schedule of included controlled foreign corporations (CFCs) attached to Form 100W. It reports each corporation’s location and business activity, Subpart F income, current-year earnings and profits, net income, property, rent expense, payroll, and sales,
What you'll need
For the 2024 schedule, have your corporation name and California corporation number ready.
For each included controlled foreign corporation, gather:
- Corporation name, country of incorporation, and country of primary business activity.
- Principal business activity code.
- Subpart F income and current-year earnings and profits.
- Net income.
- Average property everywhere, rent expense, payroll everywhere, and sales everywhere.
How to file
Attach the 2024 Form 2416 to Form 100W. Attach additional sheets if necessary.
Enter the total from column (i) on Form 100W, Side 1, line 7a. The supplied form does not provide a mailing address or e-file instructions.
Common mistakes
The form includes these reminders:
- Attach Form 2416 to Form 100W.
- Attach additional sheets if necessary.
- Transfer the total from column (i) to Form 100W, Side 1, line 7a.
Questions people ask
How is the percentage in column (g) calculated?
Divide Subpart F income in column (e) by current-year earnings and profits in column (f).
How is column (i) calculated?
Multiply the percentage in column (g) by net income in column (h). Enter the total from column (i) on Form 100W, Side 1, line 7a.
How is rent expense reported?
Column (l) asks for rent expense multiplied by 8. Column (m) is column (g) multiplied by column (l).
What if I need more space?
The form says to attach additional sheets if necessary.