Schedule FE: Report With Respect to Foreign Entities (2024)
Massachusetts · Massachusetts DOR · Used for tax years 2024
Massachusetts Schedule FE reports information about foreign corporations, including ownership, income, deductions, and net income or loss. It includes income amounts from U.S. Form 5471, Schedule C, and identifies whether the foreign corporation is a member of a Massachusetts com
What you'll need
Have these records and details ready to complete Schedule FE:
- Your U.S. return as filed, for taxable income or loss.
- U.S. Form 5471, Schedule C, for the income amounts reported in U.S. dollars.
- The corporation’s name and taxpayer identification number, plus the name and taxpayer identification number of the person filing U.S. Form 5471.
- Foreign corporation details, including its name, employer identification number (if any), country of incorporation, address, stock ownership percentage, principal business activity and code, and annual accounting period dates.
- Information about Massachusetts combined group membership and the worldwide or waters edge election.
- Records for deductions, net income or loss, income tax expense or benefit, and other comprehensive income.
The form also calls for statements for other income on line 9 and other deductions on line 17.
How to file
File electronically. The form states that paper returns will not be accepted.
For questions about electronic filing, call 617-887-6367. See the Massachusetts DOR e-filing and payment requirements for more information. The form also refers to TIRs 16-9 and 21-9.
Common mistakes
- Sending a paper return: The form warns that electronic filing is required and paper returns will not be accepted.
Questions people ask
Can I file Schedule FE on paper?
No. The form requires electronic filing and states that paper returns will not be accepted.
Where do the income amounts come from?
The income section calls for U.S. dollar amounts from U.S. Form 5471, Schedule C. The separate taxable income or loss field uses the U.S. return as filed.
Can I select more than one filer category?
Yes. The form says to check all categories that apply. The listed categories are 2, 3, 4, 5a, 5b and 5c.
Do I need statements for other income or deductions?
The form calls for a statement for other income on line 9 and for other deductions on line 17.
Should income tax expense or benefit be included on lines 16 and 17?
No. Both lines say to exclude income tax expense or benefit. Lines 21a and 21b separately report current and deferred income tax expense or benefit.