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How to generate Schedule B for Form 5471 in Lacerte

SOLVEDby Intuit10Updated August 17, 2023

Follow these steps:

  1. Go to the Information Return of US Persons (5471) screen:
    • Screen 68 (Individual)
    • Screen 48 (Partnership)
    • Screen 63 (Corporate)
    • Screen 56 (S Corporate)
    • Screen 66 (Fiduciary)
    • Screen 81 (Exempt organization)
  2. In the Filer's Information subsection, select the applicable Category Filer boxes for Schedule B:
    • Category 3 filer
    • Category 4 filer
      • Only Category 3 and 4 filers are required to complete Schedule B.
      • If Category 3 or 4 isn't checked, Schedule B won't generate.
  3. Select Sch. B - US Shareholder of Foreign Corporation from the top left panel.
  4. Enter the Filer name or number (MANDATORY if multiple filers) (Ctrl+T).
  5. Complete all other applicable information.

For more information refer to Generating Form 5471, Information Return of US Persons in Lacerte.

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