Fillable Form 8875 - Taxable Reit Subsidiary Election (Page 2 of 2) in pdf

Form 8875 (Rev. 12-2012)

Page

When To Make the Election

• By mailing or faxing Form SS-4,

the outstanding voting securities of

Application for Employer Identification

Corporation Y. On March 15, 2012,

The corporation and the REIT can make

Corporation X acquired an additional

Number.

this election at any time during the tax

10% of the outstanding voting securities

If the TRS has not received its EIN by

year. However, the effective date of the

of Corporation Y. Under section 856(l)(2),

the time the return is due, enter “Applied

election depends upon when Form 8875

Corporation Y will be treated as a TRS of

for” in the space for the EIN. For more

is filed. See the instructions for line 11.

the REIT effective March 15, 2012. The

details, see Pub. 583.

Where To File

REIT and Corporation X must jointly file a

If the securities of a corporation are

copy of their previously filed Form 8875

File Form 8875 with the:

owned directly or indirectly by more than

marked “Automatic Taxable REIT

one electing REIT, each electing REIT

Department of the Treasury

Subsidiary” at the top and attach a

seeking to treat the corporation as a

Internal Revenue Service

statement including the name and EIN of

taxable REIT subsidiary must file a

Ogden, UT 84201

Corporation Y within 30 days of the end

separate Form 8875.

of the quarter of the REIT’s tax year in

Do not attach it to the corporation’s or

Line 11

which Corporation Y became a TRS.

REIT’s tax returns.

Revocation of Election

Signature

The effective date of the TRS election

entered on line 11 cannot be more than:

Once the TRS election is made, it is

Form 8875 must be signed by persons

1. Two months and 15 days prior to

irrevocable unless both the corporation

authorized to sign the tax returns of the

the date of filing the election or

and the REIT consent to the revocation.

TRS and the electing REIT.

Notify the IRS of the revocation by jointly

2. Twelve months after the date of

filing a new Form 8875, and writing the

filing the election.

Paperwork Reduction Act Notice. We

word “REVOCATION” across the top of

If the election specifies a date earlier

ask for the information on this form to

the form. Complete Parts I and II and

than the date in 1 above, it will be

carry out the Internal Revenue laws of

provide both signatures. This revocation

treated as being effective 2 months and

the United States. You are required to

does not require IRS consent. The

15 days prior to the date of filing the

give us the information. We need it to

revocation is effective on the date the

election. If the election specifies a date

ensure that you are complying with these

new Form 8875 is filed.

later than the date in 2 above, it will be

laws.

If the employer identification number

treated as being effective 12 months

You are not required to provide the

(EIN) of the TRS changes as a result of a

after the date of filing the election.

information requested on a form that is

change in status (for example, a merger),

If no date is specified, the election is

subject to the Paperwork Reduction Act

the election is automatically terminated.

effective on the date Form 8875 is filed.

unless the form displays a valid OMB

A new election must be made using the

control number. Books or records

Line 16

new EIN.

relating to a form or its instructions must

A TRS that directly or indirectly owns

be retained as long as their contents

Specific Instructions

35% of the total voting power or value of

may become material in the

the outstanding securities of a

administration of any Internal Revenue

Address

corporation (other than a REIT) must

law. Generally, tax returns and return

attach a statement to Form 8875 with

information are confidential, as required

Include the suite, room, or other unit

the name and EIN of that corporation.

by section 6103.

number after the street address. If the

Under section 856(l), this corporation

Post Office does not deliver to the street

The time needed to complete and file

also will be treated as a TRS of the REIT

address and the corporation has a P.O.

this form will vary depending on

named in Part II.

box, show the box number instead of the

individual circumstances. The estimated

street address.

If at the time that an election is filed on

average time is:

Form 8875, the TRS named in Part I

If the electing REIT has the same

Recordkeeping .

. 6 hr., 56 min.

directly or indirectly owns less than 35%

address as the TRS, enter “Same as

Learning about the

of the total voting power or value of the

corporation” in Part II.

law or the form .

. 18 min.

outstanding securities of another

If either the TRS or the electing REIT

Preparing, copying, and

corporation and subsequently acquires

changes its mailing address after the

sending the form to

securities in that corporation that will

election is filed, it should notify the IRS

result in an ownership interest of 35% or

the IRS

. 25 min.

by filing Form 8822-B, Change of

more, the TRS and REIT that filed Form

If you have comments concerning the

Address—Business.

8875 must file a copy of Form 8875

accuracy of these time estimates or

Employer Identification

marked “Automatic Taxable REIT

suggestions for making this form

Number (EIN)

Subsidiary” at the top of the form and

simpler, we would be happy to hear from

attach a statement including the name

you. You can write to the Internal

Enter the TRS’s EIN. If the TRS does not

and EIN of the new lower tier TRS. The

Revenue Service, Tax Products

have an EIN, it must apply for one. An

new Form 8875 must be filed in the

Coordinating Committee,

EIN can be applied for:

same manner as the original Form 8875

SE:W:CAR:MP:T:M:S,

• Online—Click on the EIN link at

within 30 days of the end of the quarter

1111 Constitution Ave., NW, IR-6526,

The EIN

of the REIT’s tax year in which the lower

Washington, DC 20224.

tier corporation became a TRS.

is issued immediately once the

Do not send the form to this address.

application information is validated.

If the 35% interest is not the result of

Instead, see Where To File above.

an acquisition, no filing is necessary.

• By telephone at 1-800-829-4933, or at

1-800-829-4059 for individuals who are

Example. REIT and Corporation X

deaf, hard of hearing, or have a speech

jointly filed Form 8875 on January 15,

disability and who have access to TTY/

2012, with an effective date of January

TDD equipment.

1, 2012. On the date that Form 8875

was filed, Corporation X owned 30% of

Form 8875 - Taxable Reit Subsidiary Election Page 2

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