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Requirements for Filing Schedule UTP

A corporation must file Schedule UTP with its income tax return if:

  1. The corporation files Form 1120, U.S. Corporation Income Tax Return; Form 1120-F, U.S. Income Tax Return of a Foreign Corporation; Form 1120-L, U.S. Life Insurance Company Income Tax Return; or Form 1120-PC, U.S. Property and Casualty Insurance Company Income Tax Return
  2. The corporation has assets that equal or exceed $10 million;
  3. The corporation or a related party issued audited financial statements reporting all or a portion of the corporation’s operations for all or a portion of the corporation’s tax year; and
  4. The corporation has one or more tax positions that must be reported on Schedule UTP.

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