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Form 1128 to get advance approval

Section B—Corporations

Section C—S Corporations

to change its tax year.

(Other Than S Corporations

An S corporation must have a

permitted tax year unless it has

Section D—Partnerships

and Controlled Foreign

elected under section 444 to have a

Corporations)

A partnership must obtain advance

tax year other than the required tax

approval from the IRS to adopt,

Corporations must complete this

year. A “permitted tax year” is:

change, or retain a tax year unless it

section and any other section in Part

1. A tax year that ends on

is not required to file Form 1128, or it

III that applies to that particular entity.

December 31 or

meets one of the automatic approval

2. Any other tax year if the

For example, a Passive Foreign

rules discussed earlier in the

corporation can establish a business

Investment Company (PFIC)

instructions for Part II, Section B. Also

purpose to the satisfaction of the IRS.

completes Section B and attaches the

see the exceptions for partnerships

under Who Must File, earlier.

statement required by Section H.

For purposes of 2, above, any

Complete Sections B and F for a

Partners must also get separate

deferral of income to shareholders

tax-exempt organization that is a

advance approval to change their tax

will not be treated as a business

corporation.

years.

purpose. For more information, see

Rev. Proc. 2006-46.

Line 23. Enter the first date a

Note. In addition to excluding

If any shareholder is applying for a

business transaction resulted in a tax

CFC(s) from Section B, 10/50

corresponding change in tax year,

consequence, such as receiving

corporations are also excluded.

that shareholder must file a separate

income or incurring an expense.

Privacy Act and Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal

Revenue laws of the United States. Section 442 says that you must obtain IRS approval if you want to adopt, change,

or retain a tax year. To obtain approval, you are required to file an application to adopt, change, or retain a tax year.

Section 6109 requires that you disclose your taxpayer identification number (SSN or EIN). Failure to provide this

information in a timely manner could result in approval of your application being delayed or withheld. Providing false

information could subject you to penalties.

Our authority to ask for information is sections 6001, 6011, and 6012(a) and their regulations, which require you to

file a return or statement with us for any tax for which you are liable. Your response is mandatory under these sections.

Section 6109 requires that you provide your SSN or EIN on what you file. This is so we know who you are, and can

process your return and other papers. You must fill in all parts of the form that apply to you.

You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act

unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be

retained as long as their contents may become material in the administration of any Internal Revenue law. Generally,

tax returns and return information are confidential, as required by section 6103.

However, section 6103 allows or requires the Internal Revenue Service to disclose or give the information shown on

your application to others as described in the Code. For example, we may disclose your tax information to the

Department of Justice to enforce the tax laws, both civil and criminal, and to cities, states, the District of Columbia, U.S.

commonwealths or possessions, and certain foreign governments to carry out their laws. We may also disclose this

information to federal and state agencies to enforce federal nontax criminal laws and to combat terrorism.

Keep this notice with your records. It may help you if we ask you for other information. If you have any questions

about the rules for filing and giving information, call or visit any Internal Revenue Service office.

The time needed to complete and file this form will vary depending on individual circumstances. The estimated

burden for individual taxpayers filing this form is approved under OMB control number 1545-0074 and is included in the

estimates shown in the instructions for their individual income tax return. The estimated burden for all other taxpayers

who file this form is shown below.

Preparing

and sending

Learning about the

the form to

Recordkeeping

law or the form

the IRS

Parts I and II

8 hr., 36 min.

5 hr., 51 min.

6 hr., 15 min.

Parts I and III

22 hr., 14 min.

5 hr., 37 min.

7 hr., 26 min.

If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler,

we would be happy to hear from you. Email us at

taxforms@irs.gov

and enter “Form 1128” on the subject line or write

to the Internal Revenue Service, Tax Products Coordinating Committee, SE:W:CAR:MP:T:T:M:S, 1111 Constitution

Ave. NW, IR-6526, Washington, DC 20224. Do not send the tax form to this office. Instead, see Where To File earlier.

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Instructions For Form 1128 - Application To Adopt, Change, Or Retain A Tax Year - 2011 Page 8

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