US Tax Reform: Fiscal Year End Section 965 entities & PTI Post Section 965

When:  Oct 23, 2018 from 8:00 AM to 12:00 PM (ET)

U.S. Tax Reform Fiscal Year End Section 965 Entities & PTI Post Section 965

International Tax Meeting - October 23, 2018

Sponsored by KPMG LLP

KPMG is hosting a tax workshop to discuss computation and planning considerations with respect to: the section 965 issues that fiscal year-end taxpayers should consider; the importance of previously taxed income (“PTI”) post-section 965 inclusions; global intangible low-taxed income (“GILTI”) proposed regulations; and tax planning opportunities under the current tax regime.


8:00 a.m. - 8:30 a.m. | Registration and continental breakfast

8:30 a.m.  - 12:00.p.m. | Technical session


1)    Computational Issues under 965

       a.     Foreign Tax Credits

                     i.     FTC Haircut

                     ii.     Section 78 Gross-Up

                    iii.     Allocation of FTC Between Subpart F and Section 965

        b.     Traps for Unwary

                     i.     SFC to SFC transactions

                     ii.     Dividend Distributions

         c.      Accounting Methods vs Error

         d.   Checklist

                   i.     Audit Work Plan

                   ii.     Compliance

                   iii.     Filing

2)     PTI Discussion

        a.     Basis Election

                 i.     961(b) Basis

        b.     PTI

                i.     APB23

                ii.    PTI Distribution Ordering

                iii.    986(c) - FX Gain/Loss on Distribution

         c.      GILTI Basis

3)     GILTI

       a.     Highlights of the Proposed Regulations

4)     M&A

       a.     Section 965(h) – Acceleration of 8 Year Installment

       b.     Section 338(g) Elections

       c.      E&P and Section 1248 Planning

Fee for this program is $50 and approximately 3 CPE credits will be earned by attendees. To register click this link:                                       



KPMG Heritage Training Center
345 Park Avenue (between 51st and 52nd Streets)
New York, NY 10154


Josh Wind