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OMB No. 1545-0123
SCHEDULE Q Tax Liability of Qualified Derivatives Dealer (QDD)
(Form 1120-F)
Attach to Form 1120-F.
Department of the Treasury 2024
Internal Revenue Service Go to www.irs.gov/Form1120F for the latest information.
Name of corporation Employer identification number
Name of QDD QI-EIN
QDD Taxable Year (enter month, day, and year for beginning and ending dates)
Beginning , 20 , and ending , 20
Indicate the year or portion of the year to which the schedule relates (enter month, day, and year for beginning and ending dates) Schedule of
Beginning , 20 , and ending , 20
(a) (b) (c)
Summary of QDD Tax Liability Gross Amount Withholding Tax Rate Amount of Tax Liability
(column (a) x column (b))
1 Total section 871(m) amount . . . . . . . . . . . . 1
2 Total dividends received in equity derivatives dealer capacity . . 2
3 Total QDD tax liability pursuant to section 3.09(A) of the Qualified
Intermediary Agreement . . . . . . . . . . . . . . 3
4 Total QDD tax liability pursuant to section 3.09(B) of the Qualified
Intermediary Agreement . . . . . . . . . . . . . . 4
5 Total QDD tax liability pursuant to section 3.09(C) of the Qualified
Intermediary Agreement:
a Income Type: 5a
b Income Type: 5b
c Income Type: 5c
d Income Type: 5d
6 Total of line 5 amounts . . . . . . . . . . . . . . 6
What’s New Number of schedules filed. A QDD may be required to file multiple
Schedules Q, for example, if it has multiple branches that are QDDs
Schedule Q (Form 1120-F) has been amended to reflect Notice or if it is a fiscal year taxpayer (as explained in General Instructions
2024-44, 2024-25 I.R.B. 1737, which further delays the effective/ above). Indicate the number of each Schedule Q filed, as well as the
applicability date of certain rules in the section 871(m) regulations total number of Schedules Q being filed by the corporation in the
and extends the phase-in period provided in Notice 2022-37, entry spaces provided.
2022-37 I.R.B. 234, for certain provisions of the section 871(m)
regulations. Column (c), Amount of Tax Liability. Except as provided in the
Note that immediately follows this paragraph, the amount in column
Who Must File (c) is determined by multiplying column (a) by column (b). This
column is not reduced by any withholding that has occurred.
If the corporation or any branch of the corporation was a qualified
derivatives dealer (QDD) (defined below) during the tax year, Note: For calendar years 2018 through 2026, certain information is
Schedule Q must be completed and filed for each of those QDDs. not required, as indicated in the line instructions below. However, if
The corporation must file Schedule Q as an attachment to Form the corporation has a fiscal year (rather than a calendar year) that
1120-F even if the QDD has zero tax liability. begins in 2026 and ends in 2027, information is required for any
amounts paid or accrued on or after January 1, 2027.
Qualified derivatives dealer (QDD). A QDD is a home office or
branch that, in accordance with the qualified intermediary agreement Line 1. The gross amount to be entered in column (a) is the sum of
(QIA) (defined below), qualifies and has been approved for QDD each section 871(m) amount for the QDD for the relevant period. See
status and satisfies the requirements of the QIA. See the QIA for section 2.73 of the QIA for the definition of section 871(m) amount.
additional information. Note: For calendar years 2019 through 2026, this information is not
Qualified intermediary agreement (QIA). The QIA is section 6 of required.
Rev. Proc. 2022-43, 2022-52 I.R.B. 570. Line 2. For calendar years 2019 through 2026, only the gross
amount (column (a)) and tax rate (column (b)) are required.
General Instructions
Line 3. Column (c) is the sum of each section 3.09(A) amount for the
A separate Schedule Q is required for each QDD. In addition, if a QDD for the relevant period.
corporation has a fiscal year rather than a calendar year, the
corporation must provide a separate Schedule Q for each QDD for Note: For calendar years 2019 through 2026, this information is not
each portion of the calendar year that falls within the fiscal year. required.
Example: A QDD with a fiscal year beginning September 1 and Line 4. Enter the information requested in columns (a), (b), and (c).
ending August 31 would complete two schedules (one for the period Line 5. In addition to specifying the type of income (for example,
of September 1, 2024 through December 31, 2024, and one for the dividends or interest), enter the information requested in columns (a),
period of January 1, 2025 through August 31, 2025). (b), and (c) separately for each income type. For dividends, include
all dividends, including dividends separately stated on line 2.
Specific Instructions Note: For calendar years 2019 through 2026, do not include
Name of QDD. The name of the QDD should follow the naming dividends included on line 2.
protocol used for applying to be a QDD.
For Paperwork Reduction Act Notice, see the Instructions for Form 1120-F. Cat. No. 71803X Schedule Q (Form 1120-F) 2024