BUILD A REPRODUCIBLE CURRENCY CONVERSION WORKPAPER
EINForeigner — private preparation worksheet — November 4, 2026
https://einforeigner.com/foreign-currency-transaction-workpaper/

A USD total without its rate and source cannot be reproduced. Build one row per source event, preserve the original currency, and let the reviewer confirm the tax conversion convention. The example rates below are invented teaching data, not market rates or filing advice.

Keep this sheet and sensitive identifiers in your own secure records. Do not send them to this site. This is not an IRS form, filing or authorization.

WORKSHEET
For each field, attach the named evidence or mark UNKNOWN; do not fill a gap from memory.

1. Source event
What to record: Transaction ID, document, original amount/currency; received, paid or accrued dates separately.
Your record: ____________________
Evidence file/reference and date: ____________________
Open question: ____________________

2. Reviewed convention
What to record: Functional currency, relevant event and reason for rate selection; reviewer and date.
Your record: ____________________
Evidence file/reference and date: ____________________
Open question: ____________________

3. Rate evidence
What to record: Source file/URL, quote date/time, retrieval date, pair and units; preserve the quoted precision.
Your record: ____________________
Evidence file/reference and date: ____________________
Open question: ____________________

4. Arithmetic
What to record: Original amount × or ÷ rate; unrounded amount; rounding policy; USD result.
Your record: ____________________
Evidence file/reference and date: ____________________
Open question: ____________________

5. Reconciliation
What to record: Gross converted amount, documented fee, net settlement, unexplained difference and source reference.
Your record: ____________________
Evidence file/reference and date: ____________________
Open question: ____________________

WORKED REFERENCE — FICTIONAL, NOT YOUR RECORD
The rate has no units
A spreadsheet stores “0.80” beside EUR 500 and reports USD 400.
The quote says EUR per USD. Divide to obtain USD 625; record the correction and retain the original row for traceability.

COMPLETION CHECK
Close the workpaper review when a second reader can reproduce each USD amount from preserved evidence and explain the reconciliation differences. This does not approve a return or establish foreign-exchange gain or loss.

SOURCES
IRS foreign currency guidance: functional currency and rate convention
https://www.irs.gov/individuals/international-taxpayers/foreign-currency-and-currency-exchange-rates
IRS 5472 instructions: scope, foreign-owned U.S. DEs, related parties and records
https://www.irs.gov/instructions/i5472