Form 8613 - Return Of Excise Tax On Undistributed Income Of Regulated Investment Companies Page 2
Download a blank fillable Form 8613 - Return Of Excise Tax On Undistributed Income Of Regulated Investment Companies in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 8613 - Return Of Excise Tax On Undistributed Income Of Regulated Investment Companies with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
32
Form 8613 (Rev. 10-2016)
Page
General Instructions
Specific Instructions
Who Must Sign
Form 8613 must be signed and dated by
Section references are to the Internal
Period covered. Show the calendar year
the president, vice president, treasurer,
Revenue Code.
for which the return is filed at the top of
assistant treasurer, chief accounting
the form. Figure income on a calendar
Future Developments
officer, or by any other officer (such as
year basis even if the fund files its
tax officer) authorized to sign. Receivers,
income tax return and keeps its books
The IRS has created a page on IRS.gov
trustees, or assignees must also sign
and records on a fiscal year basis.
for information about Form 8613, at
and date any return filed on behalf of a
Information
Address. Include the suite, room, or
fund.
about any future developments affecting
other unit number after the street
Note: If this return is being filed for a
Form 8613 such as legislation enacted
address. If the Post Office does not
series fund (see section 851(g)(2)), the
after we release it will be posted on that
deliver mail to the street address and the
return may be signed by any officer
page.
fund has a P.O. box, show the box
authorized to sign for the RIC in which
number instead.
Purpose of Form
the fund is a series.
Election under section 4982(e)(4). This
Use Form 8613 to figure and pay the
Rounding Off to Whole
election is available to funds whose tax
excise tax on undistributed income
years end in November or December. If
Dollars
under section 4982. The tax is 4% of the
the fund qualifies, it may substitute its
excess, if any, of the required
tax year for the 1-year period ending on
The fund may show amounts on the
distribution over the distributed amount.
October 31.
return as whole dollars. To do so, drop
Also use Form 8613 to make the
any amount less than 50 cents and
If the RIC makes the election, Form
increase any amount from 50 cents
section 4982(e)(4) election.
8613 must be filed even if no tax is due.
through 99 cents to the next higher
The election is made no later than the
Who Must File
dollar.
time for filing Form 8613 (including
Any regulated investment company (RIC)
extensions) for the year in which the
Interest and Penalties
that is liable for the tax on undistributed
election will apply. Once made, the
income or that makes an election under
Interest. Interest is charged on taxes
election is revocable only with IRS
section 4982(e)(4) must file Form 8613. A
paid late even if an extension of time to
consent.
RIC that makes this election must file the
file is granted. Interest is also charged on
Required Distribution
penalties imposed for failure to file,
form even if no tax is due.
negligence, fraud, and substantial
Line 1a. Include on this line the following
If a RIC has more than one fund, each
understatements of tax from the due
types of income.
fund files a separate Form 8613. The
date (including extensions) to the date of
term “fund” refers to a series fund as
1. Adjustments that result in the
payment. The interest charge is figured
defined in section 851(g) and to any RIC
distribution of deficiency dividends
at a rate determined under section 6621.
that does not have more than one
under section 860(f) for the year in which
Late filing of return. A fund that doesn’t
portfolio of assets.
the dividends are paid.
file its tax return by the due date,
Exemption. The tax does not apply to
2. If a RIC is a partner in a partnership,
including extensions, may have to pay a
funds in which all the shareholders
recognize the fund’s share of partnership
penalty of 5% of the unpaid tax for each
during the year were certain trusts or
ordinary income (loss) and deductions at
month or part of a month the return is
segregated asset accounts of a life
the same time they are taken into
late, up to a maximum of 25% of the
insurance company. Shares attributable
account by the partnership, regardless of
unpaid tax. The minimum penalty for a
to an investment of no more than
the fund’s tax year or the tax year of the
return that is over 60 days late is the
$250,000 made in connection with the
partnership in which the fund is a
smaller of the tax due or $205.
organization of the RIC will not prevent
partner. See Rev. Rul. 94-40, 1994-1
The penalty won’t be imposed if the
the RIC from qualifying for this
C.B. 274.
fund can show that the failure to file on
exemption. See section 4982(f).
Also see Rev. Proc. 94-71, 1994-2
time was due to reasonable cause. If the
When and Where To File
C.B. 810, for the circumstances under
fund receives a notice about penalties
which the IRS will not challenge the
after it files its return, send the IRS an
File Form 8613, with the Internal
method used by a fund to account for
explanation and we will determine if the
Revenue Service Center where the
partnership items when its required
fund meets the reasonable cause
fund’s income tax return is filed, by
distribution is determined under section
criteria. Do not attach an explanation
March 15 following the calendar year in
4982.
when the return is filed.
which the tax liability applies.
3. Any foreign currency gain or loss
Late payment of tax. A fund that
Extension of time to file. File Form
attributable to a section 988 transaction
doesn’t pay the tax when due may be
7004, Application for Automatic
that would be properly taken into
penalized ½ of 1% of the unpaid tax for
Extension of Time To File Certain
account for the part of the calendar year
each month or part of a month the tax is
Business Income Tax, Information, and
after October 31 is taken into account in
not paid, up to a maximum of 25% of the
Other Returns, to request an extension
the following year. If the RIC makes an
unpaid tax. This penalty won’t be
of time to file. Filing Form 7004 does not
election under section 4982(e)(4), the last
imposed if the fund can show that the
extend the time for payment of tax.
day of the fund’s tax year is substituted
failure to pay on time was due to
for October 31.
Amended Return
reasonable cause.
Other penalties. Other penalties can be
To amend a previously filed Form 8613,
imposed for negligence, substantial
file a corrected Form 8613 and write
understatement of tax, and fraud. See
“Amended” at the top of the form.
sections 6662, 6662A, and 6663.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form 8613 - Return Of Excise Tax On Undistributed Income Of Regulated Investment Companies
Financial
Form 8613 - Return Of Excise Tax On Undistributed Income Of Regulated Investment Companies
Financial
Form 8613 - Return Of Excise Tax On Undistributed Income Of Regulated Investment Companies
Financial
Form 8613 - Return Of Excise Tax On Undistributed Income Of Regulated Investment Companies
Financial
Related Categories
Parent category: Financial