Another CFC question

If my client doesn't have GILTI because he is in a 'high tax' country per form 8992, do I have to file form 8993?

Is your client just in a high-taxed country, or was your client actually subject to a high effective tax rate (I.e., an effective tax rate in excess of 18.9%)?

I'm filing for a US shareholder of a CFC. The corporation tax rate is 19% in the UK, where the corporation is and my client resides. He has paid the 19% tax to the UK on the corp.

There are often differences between how US taxable income and foreign taxable income are computed (e.g., depreciation, etc.). Therefore, you cannot just go by the statutory tax rate in the country. You need to actually perform the calculation to determine if the UK tax paid or accrued is at least 18.9% of the US taxable income for the CFC.

The Form 8992 should be filed even if the high-tax exception election is made (be sure to attach the election to the tax return).

The Form 8993 is only for domestic corporations. Therefore, it would not apply here.

The Form 8992 should be filed even if the high-tax exception election is made (be sure to attach the election to the tax return).

Why do you say that? I just finished a tax return with 5 CFC's. Two qualified for the high-tax exception, so I left those entities off form 8992. I did attach the high-tax exception election.

From the instructions:

Who Must File
A U.S. shareholder (including a partner of a domestic partnership) that owns, within the meaning of section 958(a), stock in one or more CFCs. See Regulations sections 1.951A-1(e) and 1.6038-5(a).

From Treas. Reg. §1.6038-5(c)(1):

If any person required to file Form 8992 (or successor form) under section 6038 and this section fails to furnish the information prescribed on Form 8992 within the time prescribed by paragraph (b) of this section, the penalties imposed by section 6038(b) and (c) apply.