Non-U.S.-Dollar Transactions: Prepare a Conversion Schedule Before Filing

The practical answer

A transaction history in more than one currency needs an explanation of how the reported amounts were derived. Preserve the original amounts and the conversion work together so another reviewer can follow the transition to U.S.-dollar reporting without guessing an exchange rate. Report Part IV and VI amounts in U.S. dollars and attach a schedule of exchange rates used. Paid and received include applicable accrued payments and receipts for an accrual-method taxpayer.^{[1, p.1] [2, p.5] [2, p.3]}

Scope and the records behind the answer

The discussion follows the entity, form and transaction conditions identified below. The same label on a different form can have a different purpose. Keep the relevant entity and reporting period visible while you compare the requirements, and treat each stated exception as part of the rule rather than an optional footnote.

Official sources checked: 2026-11-09. Annual tax-year forms and continuously revised forms are identified separately in the references.

A side-by-side preparation table

Work through the official requirements

English usd

Provide Form 5472 information in English and report amounts in U.S. dollars.^{[1, p.1]}

Exchange rate schedule

Report Part IV and VI amounts in U.S. dollars and attach a schedule of exchange rates used. Paid and received include applicable accrued payments and receipts for an accrual-method taxpayer.^{[2, p.5]}

Line1f value

Item 1f is the total U.S.-dollar value of foreign-related-party transactions on that Form 5472, including Part V for a foreign-owned U.S. DE. Do not complete 1f for transactions with a U.S. related party.^{[2, p.3]}

Field/section 8a: Name and address of related party

Enter the name and address of the related party with reportable transactions covered by this particular Form 5472.^{[1, p.2] [2, p.5]}

Field/section 9: Sales of stock in trade (inventory)

If this foreign-related-party transaction occurred, report its U.S.-dollar amount under Sales of stock in trade (inventory). Include accrued receipts or payments where the accrual method applies.^{[1, p.2] [2, p.5]}

This applies when: Part IV concerns transactions with foreign related parties, not domestic related parties.

Field/section 10: Sales of tangible property other than stock in trade

If this foreign-related-party transaction occurred, report its U.S.-dollar amount under Sales of tangible property other than stock in trade. Include accrued receipts or payments where the accrual method applies.^{[1, p.2] [2, p.5]}

This applies when: Part IV concerns transactions with foreign related parties, not domestic related parties.

Field/section 13a: Rents received (for other than intangible property rights)

If this foreign-related-party transaction occurred, report its U.S.-dollar amount under Rents received (for other than intangible property rights). Include accrued receipts or payments where the accrual method applies.^{[1, p.2] [2, p.5]}

This applies when: Part IV concerns transactions with foreign related parties, not domestic related parties.

Field/section 13b: Royalties received (for other than intangible property rights)

If this foreign-related-party transaction occurred, report its U.S.-dollar amount under Royalties received (for other than intangible property rights). Include accrued receipts or payments where the accrual method applies.^{[1, p.2] [2, p.5]}

This applies when: Part IV concerns transactions with foreign related parties, not domestic related parties.

Field/section 14: Sales, leases, licenses, etc., of intangible property rights

If this foreign-related-party transaction occurred, report its U.S.-dollar amount under Sales, leases, licenses, etc., of intangible property rights. Include accrued receipts or payments where the accrual method applies.^{[1, p.2] [2, p.5]}

This applies when: Part IV concerns transactions with foreign related parties, not domestic related parties.

An illustrative preparation scenario

In this hypothetical preparation example, a founder provides foreign-currency statements and a spreadsheet that shows only dollar totals. The preparer requests the missing conversion trail, identifies the rates actually used, and checks that the schedule connects each reported amount with the original transaction evidence. The preparer checks three points: What were the original currency amounts? Which exchange rates were actually used? Does the conversion schedule reconcile with the reported totals? The file remains a working comparison until the relevant facts and applicable instructions have been checked together. No agency outcome is assumed.^{[1, p.1] [2, p.5] [2, p.3]}

This is a planning illustration, not a statement that a particular filing has been accepted or that an entity qualifies for a tax result. Use the source-backed distinctions above to decide what information still needs to be established before a form is completed.

A review sequence you can actually use

1. What were the original currency amounts?
2. Which exchange rates were actually used?
3. Does the conversion schedule reconcile with the reported totals?

Write down the answer and the record that supports it, rather than marking a question complete because a field contains text. When two records disagree, identify whether the difference concerns the entity, an individual, the reporting period or the type of change. That makes the remaining question specific enough to resolve against the relevant instruction.

Keep the scope of a preparation service separate from the government requirement. A service intake question may gather information for a workflow; it does not create an exception, extend a deadline or determine whether a transaction is reportable. The cited government material remains the basis for those conclusions.

Questions to settle before moving forward

How should I check line1f value?

Item 1f is the total U.S.-dollar value of foreign-related-party transactions on that Form 5472, including Part V for a foreign-owned U.S. DE. Do not complete 1f for transactions with a U.S. related party. ^{[2, p.3]}

How should I check field/section 8a: name and address of related party?

Enter the name and address of the related party with reportable transactions covered by this particular Form 5472. ^{[1, p.2] [2, p.5]}

How should I check field/section 9: sales of stock in trade (inventory)?

If this foreign-related-party transaction occurred, report its U.S.-dollar amount under Sales of stock in trade (inventory). Include accrued receipts or payments where the accrual method applies. Part IV concerns transactions with foreign related parties, not domestic related parties.^{[1, p.2] [2, p.5]}

How should I check field/section 10: sales of tangible property other than stock in trade?

If this foreign-related-party transaction occurred, report its U.S.-dollar amount under Sales of tangible property other than stock in trade. Include accrued receipts or payments where the accrual method applies. Part IV concerns transactions with foreign related parties, not domestic related parties.^{[1, p.2] [2, p.5]}

Official sources and versions

1. Form 5472 (Rev. December 2023) — Rev. December 2023
2. Instructions for Form 5472 (Rev. December 2024) — Rev. December 2024

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