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8886 - Reportable Transaction Disclosure Disclose information for each reportable transaction in which the cooperative participated. Form 8886

Statement

must be filed for each tax year that the federal income tax liability of the cooperative is affected by its

participation in the transaction. The cooperative may have to pay a penalty if it is required to file Form

8886 and does not do so. The following are reportable transactions.

1. Any listed transaction which is a transaction that is the same as or substantially similar to tax

avoidance transactions identified by the IRS.

2. Any transaction offered under conditions of confidentiality for which the cooperative paid the

advisor a fee of at least $250,000.

3. Certain transactions for which the cooperative has contractual protection against disallowance of

the tax benefits.

4. Certain transactions resulting in a loss of at least $10 million in any single year or $20 million in

any combination of years.

5. Certain transactions resulting in a book-tax difference of more than $10 million on a gross basis.

6. Certain transactions resulting in a tax credit of more than $250,000, if the cooperative held the

asset generating the credit for 45 days or less.

8895 - Section 965(f) Election for

Elect the 85% dividends-received deduction on repatriated dividends received under section 965.

Corporations that are U.S. Shareholders

of a Controlled Foreign Corporation

•

The 2005 Form 990-C is not available

If the cooperative has not received its

Statements

at the time the cooperative is required to

EIN by the time the return is due, enter

file its return.

“Applied for” in the space for the EIN. For

Consolidated returns. File supporting

more details, see Pub. 583.

statements for each cooperative included

The cooperative must show its 2005

in the consolidated return. Do not use

The online application process is not

tax year on the 2004 Form 990-C and

Form 990-C as a supporting statement.

yet available for cooperatives with

take into account any tax law changes

On the supporting statement, use

addresses in foreign countries or Puerto

that are effective for tax years beginning

columns to show the following both before

Rico.

after December 31, 2004.

and after adjustments.

Item C. Consolidated

1. Items of gross income and

Address

deductions.

Return

Include the suite, room, or other unit

2. A computation of taxable income.

number after the street address. If the

Cooperatives filing a consolidated return

3. Balance sheets as of the beginning

Post Office does not deliver mail to the

must attach Form 851 and other

and end of the tax year.

street address and the cooperative has a

supporting statements to the return. For

4. A reconciliation of income per

P.O. box, show the box number.

details, see Other Forms and Statements

books with income per return.

That May Be Required, earlier. Do not

If the cooperative receives its mail in

5. A reconciliation of retained

check this box if the “Tax exempt” box is

care of a third party (such as an

earnings.

checked in Item D.

accountant or an attorney), enter on the

street address line “C/O” followed by the

Item D. Type of

The cooperative does not have to

third party’s name and street address or

TIP

complete items 3, 4, and 5, if its

P.O. box.

Cooperative

total receipts (line 1a plus lines 4

through 10 on page 1 of the return) and

Check the “Tax exempt” (section 521) box

Item A. Business Activity

its total assets at the end of the tax year

if the cooperative is a tax-exempt

With the Largest Total

are less than $250,000.

farmers’, fruit growers’, or like

association, organized and operated on a

Receipts

Enter the totals for the consolidated

cooperative basis and is described in

group on Form 990-C. Attach

Identify the business activity from which

section 521.

consolidated balance sheets and a

the cooperative receives the largest total

If the cooperative has submitted Form

reconciliation of consolidated retained

receipts (that is, wholesale marketing of

1028, Application for Recognition of

earnings. For more information on

meat, drying fruit, grain storage,

Exemption, but has not received a

consolidated returns, see the regulations

wholesale purchasing of fertilizers, cattle

determination letter from the IRS, check

under section 1502.

breeding, etc.).

the “Tax exempt” box, and enter

“Application Pending” on Form 990-C, at

Item B. Employer

the top of page 1.

Specific Instructions

Identification Number (EIN)

Farmers’ cooperatives without section

521 exempt status, organized and

Enter the cooperative’s EIN. If the

Period Covered

operated as described under Who Must

cooperative does not have an EIN, it must

File on page 2 of the instructions, should

apply for one. An EIN can be applied for:

File the 2004 return for calendar year

•

check the “Nonexempt” box.

Online – Click on the EIN link at

2004 and fiscal years that begin in 2004

The EIN is

and end in 2005. For a fiscal year return,

Item E. Initial Return, Final

issued immediately once the application

fill in the tax year space at the top of the

information is validated.

form.

Return, Name Change,

•

By telephone at 1-800-829-4933 from

The 2004 Form 990-C may also be

Address Change, or

7:00 a.m. to 10:00 p.m. in the

used if:

cooperatives local time zone.

Amended Return

•

The cooperative has a tax year of less

By mailing or faxing Form SS-4,

•

than 12 months that begins and ends in

Application for Employer Identification

If this is the cooperative’s first return,

2005, and

Number.

check the “Initial return” box.

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Instructions For Form 990-C - Farmers' Cooperative Association Income Tax Return - Internal Revenue Service - 2004 Page 7

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