Schedule G (Form 1120): Certain Persons Owning the Corporation's Voting Stock

Schedule G (Form 1120) is Information on Certain Persons Owning the Corporation's Voting Stock. The IRS says it is used to provide information applicable to certain entities, individuals and estates that own, directly, 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the corporation's stock entitled to vote.

The schedule is attached to Form 1120, U.S. Corporation Income Tax Return. Part I covers entity owners tied to Form 1120, Schedule K, Question 4a, and Part II covers individual and estate owners tied to Question 4b. Page 2 holds the instructions, including the constructive ownership rules of section 267(c) and three worked examples.

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What's on Schedule G (Form 1120)

Header

The corporation's name and employer identification number (EIN).

Part I, columns (i) to (v)

Name of entity, employer identification number if any, type of entity, country of organization and percentage owned in voting stock.

Part II, columns (i) to (iv)

Name of individual or estate, identifying number if any, country of citizenship and percentage owned in voting stock.

Page 2: General Instructions

Purpose of form, who must file and the constructive ownership rules, with three examples of direct, indirect and family ownership.

Page 2: Specific Instructions

What to enter in Parts I and II, including how to list consolidated groups and disregarded entities.

How to fill out Schedule G (Form 1120)

1
Check Schedule K
Complete Part I if the corporation answered Yes to Form 1120, Schedule K, Question 4a, and Part II if it answered Yes to Question 4b.
2
Apply the ownership rules
Ownership is measured at the end of the tax year. The instructions apply section 267(c), excluding section 267(c)(3), so interests owned through entities or family members can count.
3
Fill in Part I
For each entity, enter the name, EIN if any, type (corporation, partnership, trust or tax-exempt organization), country of organization and percentage of voting stock owned, directly or indirectly.
4
Fill in Part II
For each individual or estate, enter the name, taxpayer identification number if any, country of citizenship (for an estate, the citizenship of the decedent) and percentage owned.
5
Attach to Form 1120
Enter the corporation's name and EIN at the top, then attach the schedule to Form 1120 as the schedule says.

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Where it goes and how ownership is counted

Where it goes

The schedule says to attach it to Form 1120, U.S. Corporation Income Tax Return.

Family attribution

The instructions say a family member's interest is counted for an individual only if that individual also owns an interest directly or indirectly through a corporation, partnership or trust. Family means spouse, brothers, sisters, ancestors and lineal descendants.

Worked examples

Three examples on page 2 show how direct, indirect and family interests add up, such as 50% owned directly plus 10% attributed from a family member giving 60%.

Who files Schedule G (Form 1120)?

Corporations answering Yes to Question 4a or 4b
The instructions say every corporation that answers Yes to Form 1120, Schedule K, Questions 4a or 4b, must file Schedule G to provide the additional information requested.
Entity owners in Part I
Foreign or domestic corporations, partnerships, trusts and tax-exempt organizations that meet the ownership levels are listed in Part I.
Individual and estate owners in Part II
Individuals and estates that meet the ownership levels are listed in Part II, with their country of citizenship.
Consolidated groups
For an affiliated group filing a consolidated tax return, the instructions say to list the parent corporation rather than the subsidiary members.
Owners of disregarded entities
The instructions say to list the entity owner of a disregarded entity rather than the disregarded entity. If that owner is an individual, the individual goes in Part II.

The schedule is completed by the corporation filing Form 1120 and lists certain owners of the corporation's voting stock.

Official sources and the blank

Official IRS form page
The agency’s own page for Form 1120 Sch. G.
Official instructions
How the IRS says to fill out and file Form 1120 Sch. G.
Blank PDF
The official blank form, to print or fill by hand.

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Questions about Form 1120 Sch. G

Who files Schedule G (Form 1120)?

The corporation filing Form 1120. The instructions say every corporation that answers Yes to Form 1120, Schedule K, Questions 4a or 4b, files Schedule G.

What ownership levels are reported?

Owners that own directly 20% or more, or own directly or indirectly 50% or more, of the total voting power of all classes of the corporation's stock entitled to vote.

How is indirect ownership counted?

The instructions apply section 267(c), excluding 267(c)(3). An interest owned by an entity is treated as owned proportionately by its shareholders, partners or beneficiaries.

What country is entered for an estate in Part II?

The instructions say to enter the citizenship of the decedent.

What if the owner is a disregarded entity?

The instructions say to list the entity owner of the disregarded entity instead. If that owner is an individual, list the individual in Part II.

Schedule G (Form 1120): Certain Persons Owning the Corporation's Voting Stock