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Item B. Date RIC Was

the record date for a dividend payable on

Amounts received or accrued as

that stock must include the dividend in

consideration for entering into

Established

gross income by the later of: the date the

agreements to make real property loans

share became ex-dividend, or the date

or to purchase or lease real property.

If this return is being filed for a series fund

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the RIC acquired the share.

(as described in section 851(g)(2)), enter

Recoveries of bad debts deducted in

the date the fund was created. Otherwise,

Line 2. Interest. Enter taxable interest

prior years under the specific charge-off

enter the date the RIC was incorporated

on U.S. obligations and on loans, notes,

method.

or organized.

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mortgages, bonds, bank deposits,

Refunds of taxes deducted in prior

corporate bonds, tax refunds, etc.

years to the extent they reduced income

Item C. Employer

subject to tax in the year deducted (see

Do not offset interest expense against

Identification Number (EIN)

section 111). Do not offset current year

interest income. Special rules apply to

taxes against prior year tax refunds.

interest income from certain

Enter the RIC’s EIN. If the RIC does not

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below-market-rate loans. See section

The recapture amount under section

have an EIN, it must apply for one. An

7872 for more information on the tax

280F if the business use of listed property

EIN may be applied for:

treatment of loans on which inadequate or

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drops to 50% or less. To figure the

Online — Click on the EIN link at

www.

no interest is charged.

recapture amount, complete Part IV of

irs.gov/businesses/small. The EIN is

Form 4797.

Note. Report tax-exempt interest income

issued immediately once the application

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on Schedule K, item 8. Do not include

Ordinary income from trade or business

information is validated.

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tax-exempt interest on line 2. Also, if

activities of a partnership (from Schedule

By telephone at 1-800-829-4933.

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required, include the same amount on

K-1 (Form 1065 or 1065-B)). Do not offset

By mailing or faxing Form SS-4,

Schedule M-1, line 7.

ordinary losses against ordinary income.

Application for Employer Identification

Instead, include the losses on line 22.

Number.

Include interest income from qualified

Show the partnership’s name, address,

If the RIC has not received its EIN by

tax credit bonds on line 2. If the RIC

and EIN on a separate statement

the time the return is due, write “Applied

elects to pass through the credits to

attached to this return. If the amount

for” and the date you applied in the space

shareholders, see the instructions for

entered is from more than one

for the EIN. See the Instructions for Form

Part II, Schedule A, line 7.

partnership, identify the amount from

SS-4 for details.

Line 3. Net Foreign Currency Gain or

each partnership.

(Loss) from Section 988 Transactions.

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Item D. Total Assets

Any net positive section 481 income

Enter the net foreign currency gain (loss)

adjustment due to a change in method of

Enter the RIC’s total assets (as

from section 988 transactions treated as

accounting. See Form 3115 and its

determined by the accounting method

ordinary income or loss under section

instructions for more information.

regularly used in keeping the fund’s

988(a)(1)(A). Attach a schedule detailing

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Part or all of the proceeds received

books and records) at the end of the tax

each separate transaction.

from certain corporate-owned life

year. If there are no assets at the end of

Line 4. Payments with respect to

insurance contracts issued after August

the tax year, enter -0-.

securities loans. Enter the amount

17, 2006. Corporations that own one or

received or accrued from a broker as

Item E. Final Return, Name

more employer-owned life insurance

compensation for securities loaned by the

contracts issued after this date must file

Change, Address Change,

RIC to the broker for use in completing

Form 8925, Report of Employer-Owned

market transactions. The payments must

or Amended Return

Life Insurance Contracts. See section

meet the requirements of section

101(j) for details.

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512(a)(5).

If this is the RIC’s final return and it will

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Income from discharge of indebtedness

no longer exist, check the “Final return”

Line 5. Excess of Net Short-Term

for the purchase of a debt instrument for

box.

Capital Gain Over Net Long-Term

less than its adjusted issue price.

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If the RIC has changed its name since

Capital Loss. Enter the amount from

However, for a reacquisition of an

it last filed a return, check the “Name

Schedule D (Form 1120), line 12. Every

applicable debt instrument after

change” box. Generally, a RIC must also

sale or exchange of a capital asset must

December 31, 2008, and before January

have amended its articles of incorporation

be reported in detail on Schedule D (Form

1, 2011, a RIC can elect, under section

and filed the amendment with the state in

1120), even if no gain or loss is indicated.

108(i), to defer the income from discharge

which it was incorporated.

For tax years beginning after

of indebtedness in connection with the

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If the RIC has changed its address

December 22, 2010, if a RIC has a net

election. If the RIC makes the election,

since it last filed a return (including a

capital loss for any tax year, the excess of

the income is deferred and ratably

change to an “in care of” address), check

the net short-term capital loss over the

included in income over the 5-year period

the “Address change” box.

net long term capital gain shall be a

beginning with:

Note. If a change in address occurs after

short-term capital loss arising on the first

1. For a reacquisition occurring in

the return is filed, use Form 8822-B,

day of the next tax year. The excess of

2009, the fifth tax year following the tax

Change of Address — Business, to notify

the net long-term capital loss over the net

year in which the reacquisition occurs,

the IRS of the new address.

short-term capital gain shall be a

and

long-term capital loss arising on the first

Amended return. If the RIC is amending

2. For a reacquisition occurring in

day of the next tax year. Also, there is no

its return, check the box for “Amended

2010, the fourth tax year following the tax

limit on the number of tax years that a

return,” complete the entire return, correct

year in which the reacquisition occurs.

RIC is allowed to carryover a net capital

the appropriate lines with the new

loss. See section 1212(a)(3) for more

information, and refigure the RIC’s tax

For more information, see section

information.

liability. Attach a statement that explains

108(i) and Rev. Proc. 2009-37. Once

the reason for the amendments and

Line 7. Other Income. Enter any other

made, the election is irrevocable and the

identifies the lines being changed on the

taxable income (loss) not reported on

exclusions for COD income under

amended return.

lines 1 through 6, except net capital gain

sections 108(a)(1)(A), (B), (C), and (D) do

reported in Part II. List the type and

not apply for the tax year of the election

amount of income on an attached

or any later tax year. See the required

Part I—Investment

schedule. If the RIC has only one item of

Annual information statement for

other income, describe it in parentheses

elections under section 108(i), discussed

Company Taxable Income

on line 7. Examples of other income to

earlier. Also, see section 108(i)(5)(D)

report on line 7 include:

regarding any deferred COD income that

Income

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Gross rents.

has been accelerated because of certain

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Line 1. Dividends. A RIC that is the

Recoveries of fees or expenses in

events and must be included in income in

holder of record of any share of stock on

settlement or litigation.

the current year.

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Instructions For Form 1120-Ric - U.s. Income Tax Return For Regulated Investment Companies - Internal Revenue Service - 2011 Page 7

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