Federal, State Income Tax & Investment

Annual Compliance Calendar for the U.S. Subsidiary of a Chinese Company: Federal, State and Internal Deadlines Month by Month

Every return, deposit and registration a calendar-year U.S. C corporation with employees and a Chinese parent faces in a year, laid out month by month. Hold it against your own calendar and fill in the rows you are missing.

Author: Jenny Gao, CPA, EA Founder, B&G US Tax · Florida-licensed CPA · IRS Enrolled Agent

Published: 2026-11-15 Last reviewed: 2026-10-21 9 min read

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Key takeaways

1. Federal income tax is one Form 1120 (with Form 5472), but it touches the calendar five times: four estimated payments (4/15, 6/15, 9/15, 12/15) and the extended deadline (10/15). The extension never extends payment.
2. Employees bring quarterly Form 941, Form 940 on January 31, W-2s on January 31 and each state's unemployment and withholding filings; contractors bring Form 1099-NEC on January 31.
3. Interest, royalties or dividends paid to the Chinese parent mean Forms 1042 and 1042-S by March 15, with withholding deposited through the year on the threshold schedule.
4. State schedules run on their own clocks: Delaware corporate annual report March 1, California Form 100 and the $800 minimum tax, Texas franchise tax May 15, Florida annual report May 1; sales tax in most states by the 20th of the following month.
5. The internal calendar matters as much: W-8BEN-E expiry (December 31 of the third year after signing), transfer pricing documentation finished when the return is filed, annual E&P and intercompany reconciliation.

Short answer: The skeleton for a calendar-year U.S. C corporation owned by a Chinese parent, with employees and in-state operations: January 31 W-2, 1099-NEC, Form 940 and fourth-quarter 941; March 1 Delaware annual report and franchise tax; March 15 Forms 1042 and 1042-S; April 15 Form 1120 with Form 5472 (or Form 7004 extending to October 15), first estimated payment and FBAR; quarterly 941 on April 30, July 31 and October 31; estimated payments June 15, September 15 and December 15; sales tax around the 20th of each month; plus the income tax, franchise tax and annual report of each state where it is registered. Internally, schedule the W-8BEN-E expiry check, transfer pricing documentation and intercompany reconciliation.

Month-by-month calendar (calendar-year C corporation)

The table models a subsidiary with a December 31 year end, employees, sales tax registrations, incorporation in Delaware and operations in another state. A deadline falling on a weekend or federal holiday moves to the next business day.

Month	Federal	State (examples)	Internal and group
January	31: W-2 to employees and SSA; 1099-NEC to contractors and IRS; Form 940 (FUTA); Q4 Form 941; December withholding deposit	State withholding and unemployment annual reconciliations (most states January 31); December sales tax return (around the 20th)	Annual close; confirm intercompany balances with the parent; start prior-year E&P computation
February	28: 1099-MISC to IRS on paper (March 31 if e-filed)	January sales tax return	Tax package to the CPA; Form 5472 related-party transaction summary
March	15: Form 1042 and 1042-S to IRS, recipient copy to the parent; Form 8809 if the 1042-S needs an extension	1: Delaware corporate annual report and franchise tax; February sales tax return	Foreign tax credit package for the parent (1042-S copy, deposit evidence)
April	15: Form 1120 + Form 5472 (or Form 7004); first estimated payment; FBAR (FinCEN 114, automatic extension to October 15); 30: Q1 Form 941	Around the 15th: most state corporate returns or extensions (California Form 100 and others); 1: Florida tangible personal property return (DR-405); 15: Texas rendition; March sales tax return	Transfer pricing documentation finalized at filing; estimated tax computation
May	—	1: Florida annual report (Sunbiz) and F-1120; 15: Texas franchise tax report; April sales tax return	Q1 management package to headquarters; annual board or shareholder minutes
June	15: second estimated payment; Form 1120-F due if the parent has no U.S. office	1: Delaware LLC annual tax (if the group has an LLC); May sales tax return	Settle and invoice first-half intercompany service fees and interest under the agreements
July	31: Q2 Form 941	June sales tax return	Mid-year nexus review: sales and transaction counts by state
August	—	July sales tax return	W-8BEN-E expiry check (forms expire December 31 of the third calendar year after signing)
September	15: third estimated payment	August sales tax return	Start the annual budget and cash forecast
October	15: extended Form 1120 + 5472 deadline; extended FBAR deadline; 31: Q3 Form 941	Extended state returns (varies by state); September sales tax return	Year-end planning: depreciation, bonus accruals, intercompany cleanup
November	—	October sales tax return; some state annual reports	Dividend planning: E&P computation, W-8BEN-E check (see the dividend article)
December	15: fourth estimated payment; last withholding deposit of the year	November sales tax return	Fixed asset count; refresh W-9s and W-8s; finalize next year's calendar

Federal: one income tax return that comes up five times

Form 1120 is annual, due April 15, extendable to October 15 with Form 7004, but the extension only extends the filing. A corporation expecting $500 or more of tax for the year pays four installments on April 15, June 15, September 15 and December 15, each 25% of the annual tax (or on the annualized method), and underpayment carries an estimated tax penalty. All federal corporate payments go through EFTPS.

Form 5472 is filed with the 1120, one per related party with transactions: the parent, sister companies in the group and any 25% individual shareholder. The penalty is $25,000 per missing form; see the Form 5472 solution page.

Interest, royalties, dividends or rent paid to the parent require withholding deposits through the year on the threshold schedule and Forms 1042 and 1042-S by March 15; see the withholding solution page.

Employer: a quarterly set and an annual set

Form 941: quarterly, due April 30, July 31, October 31 and January 31; withheld income tax and FICA are deposited monthly or semiweekly depending on the lookback period.
Form 940: annual federal unemployment tax, January 31; FUTA is deposited quarterly once the liability exceeds $500.
W-2 and W-3: January 31 to employees and the Social Security Administration.
1099-NEC: January 31 to recipients and the IRS for services paid to non-employee individuals or non-corporate entities at or above the reporting threshold ($2,000 for payments made from 2026, previously $600); 1099-MISC items such as rent go to recipients January 31 and to the IRS February 28 on paper or March 31 electronically.
States: withholding and unemployment insurance have their own quarterly returns and annual reconciliations in each state; register before the first employee starts in a new state. See eight things to do before hiring the first U.S. employee.

States: income tax, franchise tax, annual reports and sales tax are four separate tracks

State corporate income tax is mostly due the same day as federal (April 15), but extension rules differ: some states follow the federal extension automatically, some require their own form, and some allow longer. California's Form 100 comes with an $800 minimum franchise tax every year; New York, New Jersey and others have their own minimum taxes.

Franchise tax and annual reports are the cost of existing, unrelated to profit: a Delaware corporation files its annual report and pays franchise tax by March 1 (computed under the authorized-shares or assumed-par-value method, which differ enormously, so always use the lower one); the Texas franchise tax report is due May 15; the Florida annual report May 1. A company incorporated in one state and operating in another files annual reports in both.

Sales tax is filed at the frequency each state assigns, most often by the 20th of the following month, with quarterly or annual filing for small volumes. A new state where the economic nexus threshold has been crossed must be registered before filing; see the sales tax nexus solution page.

Some states also levy business tangible personal property tax: Florida returns are due April 1 and Texas renditions April 15, covering equipment and inventory, administered at the county level.

Internal and group: nobody sends a reminder, and mistakes cost the most

W-8BEN-E validity: the parent's form expires December 31 of the third calendar year after signing, and payments after that can only be withheld at 30%. Record the expiry in the vendor master, check in August, replace before December.
Transfer pricing documentation: the support for intercompany service fees, purchase prices and royalties must exist when the return is filed and be produced within 30 days of an IRS request; otherwise adjustments can carry 20% or 40% penalties.
Intercompany reconciliation: agree balances with the parent monthly; at year end classify what is a loan (with interest and maturity), what is capital and what is unsettled service fees, because that determines the numbers on Forms 5472 and 1042-S.
E&P and dividends: if a dividend is planned, finish the E&P computation and board resolution before November; see seven steps for a dividend from a U.S. subsidiary to its Chinese parent.
BOI: under FinCEN's March 2025 interim rule, entities formed in the U.S. are currently not required to report, but confirm the latest rule once a year.
FBAR: if the subsidiary has bank accounts in China or Hong Kong that together exceeded $10,000 at any point in the year, FinCEN 114 is due April 15 with an automatic extension to October 15; see does a U.S. company's Chinese or Hong Kong bank account need an FBAR.

How to use this table

First, cross out the rows that do not apply: no employees, drop the employer column; no payments to the parent, drop the 1042 rows. Second, fill in the actual dates for your states, which vary the most; this article gives only a few examples. Third, assign an owner and a lead time to every row (collect documents 30 days before a federal return, schedule deposits 3 business days early) and put it in a shared calendar. Fourth, update it every December against the latest IRS and state dates.

B&G US Tax delivers this calendar as part of its subsidiary accounting and tax service, covering federal, state, 5472 and 1042 filings for a fixed fee, with a free first consultation.

Ten inputs for building the calendar

Entity type and tax year (C corporation, calendar or fiscal year)
State of incorporation and states of operation; foreign qualification status
Whether there are employees and in which states
Whether contractors are paid services fees at or above the 1099-NEC threshold ($2,000 from 2026)
Whether interest, royalties, dividends or rent are paid to the parent or other foreign related parties
Sales tax registrations and filing frequencies
Whether the company holds bank accounts in China or Hong Kong
Related-party transaction list and transfer pricing agreements
W-8BEN-E signature dates
Prior-year filing record and extensions

Frequently asked questions

With Form 1120 extended to October 15, can the tax be paid in October?

No. Form 7004 extends only the filing. Tax is still due April 15, and interest and late-payment penalties run from that date. The four estimated payments are unaffected by the extension.

The company had no profit in its first year. Are estimated payments still required?

A corporation expecting less than $500 of federal tax does not have to make estimated payments. Watch the state minimums, though: California charges $800 a year regardless of profit, and Delaware franchise tax has nothing to do with earnings.

Incorporated in Delaware, operating in California: are both states filed?

Yes. Delaware takes the annual report and franchise tax by March 1; California requires foreign qualification, an annual Form 100 with the minimum franchise tax, and income tax under California rules. Sales tax and employer registrations in the operating state are separate as well.

Is the Form 1042-S deadline the same as the 1099 deadline?

No. 1099-NEC is January 31. Forms 1042 and 1042-S are March 15, and the recipient copy is also due March 15. Form 1042-S usually has to be e-filed.

Does this calendar apply to an LLC?

The skeleton is the same but the federal income tax form differs: a single-member LLC files a pro forma 1120 + 5472, a multi-member LLC files Form 1065 (March 15), and an LLC that elected C corporation treatment files Form 1120. The Delaware LLC annual tax is due June 1 rather than March 1.

Official sources

This article is general information, not tax, legal or financial advice for any specific situation; the scope of any engagement is defined by a signed engagement letter. B&G US Tax is operated by Bergland & Gao, LLC.