Looking for a Form 1120-ric Templates? Download it for free!

2 0 09

Department of the Treasury

Internal Revenue Service

Instructions for Form

1120-RIC

U.S. Income Tax Return for Regulated Investment Companies

1-800-THE-LOST (1-800-843-5678) if you

Section references are to the Internal

What’s New

recognize a child.

Revenue Code unless otherwise noted.

•

Beginning July 1, 2009, a RIC can file

Contents

Page

Form 8927, Determination Under Section

Unresolved Tax Issues

Photographs of Missing Children . . . . 1

860(e)(4) by a Qualified Investment

The Taxpayer Advocate Service (TAS) is

Unresolved Tax Issues . . . . . . . . . . . . 1

Entity, to establish the date of

an independent organization within the

How To Get Forms and

determination for purposes of making a

IRS whose employees assist taxpayers

Publications . . . . . . . . . . . . . . . . . . 1

deficiency dividend distribution. See Form

who are experiencing economic harm,

General Instructions . . . . . . . . . . . . . 2

8927 and Rev. Proc. 2009-28 for more

who are seeking help in resolving tax

information.

Purpose of Form . . . . . . . . . . . . . . . . 2

problems that have not been resolved

•

For tax years beginning in 2009 or

Who Must File . . . . . . . . . . . . . . . . . . 2

through normal channels, or who believe

2010, there is no tax on the net

General Requirements to Qualify

that an IRS system or procedure is not

recognized built-in gain of a RIC, if the 7th

as a RIC . . . . . . . . . . . . . . . . . . . . 2

working as it should. The service is free,

year of the applicable recognition period

confidential, tailored to meet your needs,

Other Requirements . . . . . . . . . . . . . . 2

ended before the tax year. See the

and is available for businesses, as well as

Where To File . . . . . . . . . . . . . . . . . . 2

Built-in Gains Tax Worksheet Instructions

individuals.

Definition of a Fund . . . . . . . . . . . . . . 3

on page 12 for more information.

•

A RIC can contact the TAS as follows.

When To File . . . . . . . . . . . . . . . . . . . 3

The RIC can elect to defer income from

•

Call the TAS toll-free line at

discharge of indebtedness in connection

Who Must Sign . . . . . . . . . . . . . . . . . 3

1-877-777-4778 or TYY/TDD

with an applicable debt instrument

Paid Preparer Authorization . . . . . . . . 3

1-800-829-4059 to see if the RIC is

reacquired after December 31, 2008, and

Assembling the Return . . . . . . . . . . . . 3

eligible for assistance.

before January 1, 2011, and include the

•

Depository Methods of Tax

Call or write the RICs local taxpayer

deferred income over a 5-year period. In

Payment . . . . . . . . . . . . . . . . . . . . 3

advocate, whose phone number and

addition, any applicable accrued original

address are listed in the local telephone

Estimated Tax Payments . . . . . . . . . . 4

issue discount (OID) is allowed as a

directory and in Pub. 1546, Taxpayer

deduction ratably over the 5-year period

Interest and Penalties . . . . . . . . . . . . . 4

Advocate Service – Your Voice at the

that the income from cancellation of debt

Accounting Methods . . . . . . . . . . . . . . 4

IRS.

is includible in income. See section 108(i).

•

Accounting Periods . . . . . . . . . . . . . . 5

File Form 911, Request for Taxpayer

Also, see the instructions for lines 7 and

Rounding Off to Whole Dollars . . . . . . 5

Advocate Assistance (And Application for

13.

Recordkeeping . . . . . . . . . . . . . . . . . . 5

Taxpayer Assistance Order), or ask an

•

The election to accelerate the minimum

IRS employee to complete it on the RICs

Other Forms That May Be

tax and research credits in lieu of claiming

behalf.

Required . . . . . . . . . . . . . . . . . . . . 5

any additional first year special

Statements . . . . . . . . . . . . . . . . . . . . 5

depreciation allowance for eligible

For more information, go to

qualified property has been extended to

Specific Instructions . . . . . . . . . . . . 6

eligible qualified extension property. See

Period Covered . . . . . . . . . . . . . . . . . 6

the instructions for line 28h.

How To Get Forms

Name and Address . . . . . . . . . . . . . . 6

•

The maximum 15% alternative tax does

Item B. Date RIC Was

and Publications

not apply to qualified timber gain after

Established . . . . . . . . . . . . . . . . . . 6

May 22, 2009. See the instructions for

Internet. You can access the IRS

Item C. Employer Identification

Part II, line 4.

website 24 hours a day, 7 days a week, at

•

Number (EIN) . . . . . . . . . . . . . . . . . 6

Certain tax benefits for Midwestern

to:

•

Item D. Total Assets . . . . . . . . . . . . . . 6

disaster areas, including special

Download forms, instructions, and

Item E. Final Return, Name

charitable contribution benefits, have

publications;

•

expired. See Pub. 4492-B, Information for

Change, Address Change, or

Order IRS products online;

•

Affected Taxpayers in the Midwestern

Amended Return . . . . . . . . . . . . . . 7

Research your tax questions online;

•

Disaster Areas.

Search publications online by topic or

Part I — Investment Company

keyword;

Taxable Income . . . . . . . . . . . . . 7-10

•

View Internal Revenue Bulletins (IRBs)

Part ll — Tax on Undistributed

Photographs of Missing

published in recent years; and

Net Capital Gain Not

•

Children

Designated Under Section

tax news by email.

The Internal Revenue Service is a proud

852(b)(3)(D) . . . . . . . . . . . . . . . . . 10

partner with the National Center for

IRS tax products DVD. You can order

Schedule A . . . . . . . . . . . . . . . . . . . 10

Missing and Exploited Children.

Pub. 1796, IRS Tax Products DVD, and

Schedule B . . . . . . . . . . . . . . . . . . . 10

Photographs of missing children selected

obtain the following.

Schedule J . . . . . . . . . . . . . . . . . 10-12

•

by the Center may appear in instructions

Current year forms, instructions, and

Schedule K . . . . . . . . . . . . . . . . . . . 13

on pages that would otherwise be blank.

publications.

•

Schedule L . . . . . . . . . . . . . . . . . . . 13

You can help bring these children home

Prior year forms, instructions, and

Schedule M-1 . . . . . . . . . . . . . . . . . 13

by looking at the photographs and calling

publications.

Cat. No. 64251J

Instructions For Form 1120-Ric - U.s. Income Tax Return For Regulated Investment Companies - 2009

Related Articles

Related forms

Related Categories