If the corporation is claiming a dividends-received deduction under section 965 for the current tax year, see the instructions for Form 8895, One-Time Dividends Received Deduction for Certain Cash Dividends from Controlled Foreign Corporations. The Form 8895, Part IV, instructions list the steps needed to compute the corporation's foreign tax credit for the current tax year.

Changes to the instructions were made to reflect amendments to the foreign tax credit rules made by the American Jobs Creation Act of 2004 and the Gulf Opportunity Zone Act of 2005.