Can I print OC and/or US as the Country Code on a Schedule K-2 in CCH Axcess™ or CCH® ProSystem fx® Tax?

  • Article Type:
  • QA
  • Last Modified:
  • 04/20/2023

Question

  • Can I print US as the Country Code on Schedule K-2 in CCH Axcess™ or CCH® ProSystem fx® Tax?
  • Can I print US as the Country Code on Schedule K-2 in CCH Axcess™ Tax?
  • Can I print US as the Country Code on Schedule K-2 in CCH® ProSystem fx® Tax?
  • Can I print OC as the Country Code on Schedule K-2 / K-3  in CCH Axcess™ or CCH® ProSystem fx® Tax?
  • Can I print Various as the Country Code on Schedule K-2 / K-3 in CCH® ProSystem fx® Tax or CCH Axcess™?

Environment

  • CCH Axcess™
  • CCH® ProSystem fx® Tax
  • CCH Axcess™ Tax
  • Schedule K-2
  • Schedule K-3
  • OC
  • US
  • Various

Answer

Tax Year 2022
  • Selecting Schedule K-2, part II, Section 1 country code as 'OC' will print 'OC' on the government form Schedule K-2 and K-3(s).
  • Selecting country code 'US' has been added and will print 'US' on the government form Schedule K-2 and K-3(s)
Tax Year 2021
  • Entering ‘OC’ will print ‘US’ in the Description column. We do not plan to alter this, as IRS instructions repeatedly state "Do not enter “various” or “OC” for the country code." See IRS Schedule K-2 / K-3 Instructions pages 3, 4, 8, 12, and 23.

Additional Information

The IRS Schedule K-2 / K-3 instructions repeatedly advise that use the countries in the list of irs.gov/countrycodes. 
  • The list does not include US - United States.
  • The list does include OC - Other Country. 
The K-2/K-3 instructions for the country code says do not use "OC." However, the list of countries that the IRS instructions has mandated we use has "OC" as an option.  

Tax Year 2021 Notes

  • We are using "US" when "OC" is entered, since "OC" is not valid for Schedule K-2 / K-3(s).

  • We are using "OC" as an input option because it is an option with the IRS published list: irs.gov/countrycodes

    • The existing foreign country code lists in the software generally includes "OC" and does not include "US" because the IRS would often invalidate most return types electronically with a “foreign country code” entered as US; Returns with US as a foreign country code would receive a schema validation error.

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