About Form 8848, Consent to Extend the Time to Assess the Branch Profits Tax Under Regulations Sections 1.884-2T(a) and (c)

Foreign corporations file this form if they have completely terminated all of their U.S. trade or business according to Temporary Regulations section 1.884-2T(a) during the tax year. 

A domestic transferee corporation files this form if U.S. assets were transferred to it from a foreign corporation in a transaction described in section 381(a), if the foreign corporation was engaged (or deemed engaged) in the conduct of a U.S. trade or business immediately prior to the section 381(a) transaction.

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