GILTI/NCTI Reporting After OBBBA: Forms 5471, 8992, 8993, 1118; Examples of Common GILTI Scenarios

This webinar will walk tax practitioners through the GILTI reporting requirements and preparation of Forms 8992, 8993, 1118, and 5471. Our astute panel of international reporting experts will present common GILTI scenarios and review the new NCTI (Net CFC Tested Income) regime introduced by the One Big Beautiful Bill Act (OBBBA).

GILTI taxation ended on Dec. 31, 2025, and is replaced by NCTI taxation. Still, international tax professionals must report 2025 income under GILTI rules and prepare for the upcoming reporting changes under NCTI. Generally speaking, the effective tax rate for foreign earnings of U.S. shareholders under GILTI is 10.5%. This rate increases to 12.6% under NCTI. The increase is due in part to the reduction of the Section 250 deduction for net CFC income from 50% (GILTI) to 40% (NCTI). 

Changes made by the OBBBA will affect the preparation of international reporting forms, including Forms 5471, 8992, 8993, and 1118. The GILTI/NCTI taxation reporting regimes are complex. Tax professionals who grasp the requirements often struggle to meet the intricate reporting requirements.

Listen as our panel of international taxation experts demonstrates how to calculate and report GILTI and discusses key calculation changes made by the OBBBA.