Form 8612 - Return Of Excise Tax On Undistributed Income Of Real Estate Investment Trusts Page 2
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Form 8612 (Rev. 11-2016)
Page
General Instructions
paid, up to a maximum of 25% of the unpaid
deficiency dividends (defined in section 860(f))
tax. This penalty won’t be imposed if the REIT
paid during the calendar year. Also, include
Section references are to the Internal
can show that the failure to pay on time was
dividends declared in October, November, or
Revenue Code.
due to reasonable cause.
December but only if they were actually paid
by the REIT during January of the following
Other penalties. Other penalties can be
Purpose of Form
calendar year. See section 857(b)(9). Do not
imposed for negligence, substantial
Form 8612 is used by real estate investment
include on this line any other dividends paid
understatements of tax, reportable
trusts (REITs) to figure and pay the excise tax
after the close of the calendar year.
transaction understatements, and fraud. See
on undistributed income under section 4981.
sections 6662, 6662A, and 6663.
Line 6. Line 6 is the total of the following
The excise tax is 4% of the excess, if any, of
amounts figured for the tax year of the REIT
Amended Return
the required distribution over the distributed
ending in or with the calendar year for which
amount.
this excise tax return is filed.
To amend a previously filed Form 8612, file a
Who Must File
corrected Form 8612 and write “Amended” at
1. Real estate investment trust taxable
the top of the form.
income from Form 1120-REIT, Part I, line 22,
Any REIT that is liable for the excise tax on
and
undistributed income under section 4981
Specific Instructions
2. Undistributed capital gains designated
must file Form 8612.
under section 857(b)(3)(D) from Form 2438,
Period covered. Fill in the space at the top
When and Where To File
line 11.
of the form to show the calendar year for
which this return is filed. The REIT is required
Line 12. Full payment of the tax due on line
File Form 8612 by March 15th following the
to figure its undistributed income on a
12 must accompany the return. Make the
calendar year to which the excise tax liability
calendar year basis even though it may file its
REIT’s check or money order payable to the
applies. File it with the Department of the
income tax return and keep its books and
“United States Treasury.”
Treasury, Internal Revenue Service Center,
records on a fiscal year basis.
Cincinnati, OH 45999.
The REIT can pay the tax electronically
Address. Include the suite, room, or other
itself or arrange for an electronic funds
If more time is needed, use Form 7004,
unit number after the street address. If the
transfer through a trusted third party.
Application for Automatic Extension of Time
Post Office does not deliver mail to the street
Generally, electronic funds transfers are made
To File Certain Business Income Tax,
address and the REIT has a P.O. box, show
using the Electronic Federal Tax Payment
Information, and Other Returns. However,
the box number instead.
System (EFTPS). To get more information
Form 7004 does not extend the time for
about EFTPS or to enroll in EFTPS, visit
payment of tax.
If the REIT receives its mail in care of a
, or call 1-800-555-4477
third party (such as an accountant or an
Who Must Sign
(TTY/TDD 1-800-733-4829).
attorney), enter on the street address line
“C/O” followed by the third party’s name and
Form 8612 must be signed and dated by the
street address or P.O. box.
Paperwork Reduction Act Notice. We ask
president, vice president, treasurer, assistant
treasurer, chief accounting officer, or by any
for the information on this form to carry out
Line 1a. Refigure real estate investment trust
other officer (such as tax officer) authorized to
the Internal Revenue laws of the United
taxable income, treating the calendar year as
sign. Receivers, trustees, or assignees must
States. You are required to give us the
the REIT’s tax year. When refiguring this
sign and date any return that they are
information. We need it to ensure that you are
amount, exclude the deduction for dividends
required to file on behalf of the REIT.
complying with these laws and to allow us to
paid and any gain or loss from the sale or
figure and collect the right amount of tax.
exchange of a capital asset. Include
Rounding Off to Whole Dollars
adjustments that result in the distribution of
You are not required to provide the
The REIT may show amounts on the return as
deficiency dividends (defined in section 860(f))
information requested on a form that is
whole dollars. To do so, drop any amount less
for the year in which the dividends are paid.
subject to the Paperwork Reduction Act
than 50 cents and increase any amount from
Also, include the REIT’s share of partnership
unless the form displays a valid OMB control
50 cents through 99 cents to the next higher
ordinary income (loss) and deductions when
number. Books or records relating to a form
dollar.
they are taken into account by the
or its instructions must be retained as long as
partnership. For details and exceptions, see
their contents may become material in the
Interest and Penalties
Rev. Rul. 94-40, 1994-1 C.B. 274, and Rev.
administration of any Internal Revenue law.
Proc. 94-71, 1994-2 C.B. 810.
Generally, tax returns and return information
Interest. Interest is charged on taxes paid
are confidential, as required by section 6103.
late even if an extension of time to file is
Line 2a. To determine capital gain net
granted. Interest is also charged on penalties
income, figure the excess, if any, of the gains
The time needed to complete and file this
imposed for failure to file, negligence, fraud,
over the losses from the sale or exchange of
form will vary depending on individual
and substantial understatements of tax from
capital assets, determined by treating the
circumstances. The estimated average time
the due date (including extensions) to the date
calendar year as the REIT’s tax year. Reduce
is:
of payment. The interest charge is figured at
the result by the REIT’s net ordinary loss (as
Recordkeeping
.
.
.
.
6 hr., 13 min.
a rate determined under section 6621.
defined in section 4981(e)(2)(C)), if any, for the
Learning about the
calendar year. Include adjustments that result
Late filing of return. A REIT that doesn’t file
law or the form
.
.
.
.
1 hr., 40 min.
in the distribution of deficiency dividends
its tax return by the due date, including
(defined in section 860(f)) and that affect
Preparing and
extensions, may be penalized 5% of the
capital gain net income for the year in which
sending the form
unpaid tax for each month or part of a month
the dividends are paid. Also, include the
to the IRS .
.
.
.
.
.
1 hr., 52 min.
the return is late, up to a maximum of 25% of
REIT’s share of partnership items that affect
the unpaid tax. The minimum penalty for a
If you have comments concerning the
capital gain net income when they are taken
return that is over 60 days late is the smaller
accuracy of these time estimates or
into account by the partnership. For details
of the tax due or $205. The penalty won’t be
suggestions for making this form simpler, we
and exceptions, see Rev. Rul. 94-40 and Rev.
imposed if the REIT can show that the failure
would be happy to hear from you. You can
Proc. 94-71.
to file on time was due to reasonable cause.
send us comments from
REITs that file late should send an explanation
Line 3a. Add lines 1a and 2a using amounts
formspubs/. Click on “More Information” and
of reasonable cause after receiving a notice
for the previous calendar year, increased by
then on “Give us feedback.” Or you can write
from the IRS. Do not attach an explanation
the prior year’s shortfall, if any, as defined in
to: Internal Revenue Service; Tax Forms and
when the return is filed.
section 4981(b)(2).
Publications Division; 1111 Constitution Ave.
NW; IR-6526; Washington, DC 20224. Do not
Late payment of tax. A REIT that doesn’t pay
Line 5. Enter the deduction for dividends paid
send the form to this address. Instead, see
the tax when due may be charged a penalty
(as defined in section 561) during the current
When and Where To File, earlier.
for the failure to pay tax. The amount of the
calendar year figured without regard to the
penalty is ½ of 1% of the unpaid tax for each
dividends paid, if any, attributable to net
month or part of the month the tax is not
income from foreclosure property. Include
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