Form 433-B (OIC) ND 2024-2025

Form 433-B (OIC) ND: What You Should Know

The first section of the form asks for information on the business, the type of business, and the  income it generates. Inventory section — IRS Form 433-B should be completed by businesses where inventory is generated, and it must be completed as  follows. The inventory section lists the total of raw materials, inventory, materials from previous sales, inventory held overseas and/or on the  balance sheet and cash receipts from previous sales. You will need to list the inventory on the inventory box (which is the last  section of Form 433-B). There are three categories; raw materials, inventory, and materials from current sales, inventory held overseas. The first  category of raw materials are those that are  owned by the business that can be converted into finished goods.  Examples of items the raw materials in inventory are: Grapes. Pavlov bread. Pavlov bread, but without the grapes and without the fruit from prior sales. Pavlov bread, but from a location other than the previous location in which you owned the  Pavlov bread when you made the previous  recipients. Here are a few  examples of completed Form 433-B Inventory: April 24, 2025 — Perennial Produce Co. April 24, 2025 — Perennial Produce Co. had grapes and fruit in inventory. April 28, 2025 — Perennial Produce Co. had wine grapes, fruit, and potatoes in inventory. April 28, 2025 — Perennial Produce Co. bought grapes when the grapes were not available  from another source when the inventory was filled. April 30, 2025 — Perennial Produce Co. had rice in inventory. April 30, 2025 — Perennial Produce Co. had rice in inventory, and it had not been paid for. May 2, 2025 — Perennial Produce Co. had grapes and potatoes in inventory. May 3, 2025 — Perennial Produce Co. had grapes in inventory. May 5, 2025 — Perennial Produce Co. still had the grapes and potatoes and only had a month to pay  them. May 6, 2025 — The business was told it would take approximately 5 to 7 months to pay its grapes, rice, and potatoes.

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