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This article applies to:

  • Product: ONESOURCE Income Tax,ONESOURCE International Tax
  • Subject: Setup

Binder Properties - international transfer

The binder properties for the international transfer from foreign entities to the domestic shareholders are not included on the International Transfer from Foreign Entities to Foreign Tax Credit Parents and to Form 1118 page.
The following items are in the Binder Properties window in the binder.
  1. Select the
    International Transfer
     tab. In the Transfer Options section, the options for
    Income Inclusion - Tax Journal Entry with Sourcing
     and
    Tax Deemed Paid
     rollover and are selected from the prior year.
  2. For a division consolidation, select the
    International Transfer
     tab. In the Associated Binder for Division or Elimination, the selection from the prior year rollsover.
    1. Select the
      Charts
      tab. In the Charts section, select the same
      Chart of Inclusion Transfer Mapping
       in the divisional consolidation and division or elimination.
  3. Select the
    International Transfer
     tab. In the Top Consolidation Binder section,
    Transfer Source
     should be
    None
    . This is selected automatically during the rollover process.
    1. International Transfer Adjustments, Income Sourcing, and Foreign Income Taxes will update to 0 or blank, when
      None
      is selected, removing previously populated amounts.
    2. the
      Top Consolidation Binder
       each year.
  4. On the TAS navigation tree, select
    Compute
     or
    Consolidate
    . Transfer International is not selected during rollover.
    1. You need to select
      Transfer International
      each year.
  5. In
    Batch Process
     for the top consolidation or the binder group for each separate chart of adjustments select
    Enterprise Control Panel
    . In
    Chart Assignments
    , select the
    Federal Chart of Accounts
    .
    1. Then, select the
      Federal Chart of Tax Adjustments
      .
    2. Then, select the
      Chart of Inclusion Transfer Mapping
      .
  6. In
    Batch Process
     for the top consolidation in the
    Enterprise Control Panel
    , select
    International
    , then
    International Transfer
    .
    1. In Consolidation, select
      Workarea with Top Consolidation Binder
       and
      Top Consolidation Binder Transfer Source
      .
    2. In
      Transfer Options
      , select
      Income Inclusion – Tax Journal Entry with Sourcing
      ,
      Tax Deemed Paid
      , and
      Transfer foreign entity amounts to FTC owners during TAS Compute
      .
    3. Select
      Submit
      .
  7. In the top consolidation in the
    TAS
     navigation menu, select
    Consolidate
    , then
    Consolidate
    .
note
This tab is dependent upon the binder type.

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