Form 8831 - Excise Taxes On Excess Inclusions Of Remic Residual Interests Page 3
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Form 8831 (Rev. 12-2013)
Page
Section references are to the Internal
You will be relieved of the liability for
its tax year in which the disqualified
Revenue Code unless otherwise noted.
the tax if you obtain an affidavit from the
person is a record holder. If the due
transferee signed under penalties of
date falls on a Saturday, Sunday, or
Future Developments
perjury that either furnishes the
legal holiday, file on the next day that is
transferee’s social security number or
not a Saturday, Sunday, or legal holiday.
For the latest information about
states that the transferee is not a
developments related to Form 8831 and
If more time is needed, use Form
disqualified organization, provided you
its instructions, such as legislation
7004, Application for Automatic
do not have actual knowledge at the
enacted after they were published, go to
Extension of Time To File Certain
time of the transfer that the affidavit is
Business Income Tax, Information, and
false.
Other Returns, to request an extension
General Instructions
A pass-through entity must file Form
of time to file Form 8831. However, Form
8831 if it is liable for the tax in Part II
7004 does not extend the time for
Purpose of Form
under section 860E(e)(6). The entity must
payment of tax.
pay this tax if, at any time during the
Where To File
Use Form 8831 to report and pay:
entity’s tax year, excess inclusions from
a residual interest in a REMIC are
• The excise tax due under section
Send Form 8831 to the following
allocable to an interest in the entity for
860E(e)(1) on any transfer of a residual
address.
which the record holder is a disqualified
interest in a REMIC to a disqualified
Department of the Treasury
organization. The tax applies to excess
organization,
Internal Revenue Service
inclusions for periods after March 31,
• The amount due under Regulations
Cincinnati, OH 45999
1988, but only to the extent the
section 1.860E-2(a)(7)(ii) if the tax under
inclusions are allocable either to an
Rounding Off to Whole
section 860E(e)(1) is to be waived, or
interest in the pass-through entity
Dollars
• The excise tax due under section
acquired after March 31, 1988, or to a
860E(e)(6) on pass-through entities with
residual interest acquired by the pass-
You may round off cents to whole
interests held by disqualified
through entity after March 31, 1988. Any
dollars on your returns and schedules. If
organizations. All interests in an electing
interest acquired under a binding
you do round to whole dollars, you must
large partnership are treated as held by
contract in effect on March 31, 1988, is
round all amounts. To round, drop
disqualified organizations (see section
treated as acquired before that date. A
amounts under 50 cents and increase
774(e) for details).
real estate investment trust, regulated
amounts from 50 to 99 cents to the next
investment company, common trust
Definitions
dollar. For example, $1.39 becomes $1
fund, or publicly traded partnership is
and $2.50 becomes $3.
subject to the tax due under section
A disqualified organization is:
If you have to add two or more
860E(e)(6) only for tax years beginning
• The United States, any state or
amounts to figure the amount to enter
after 1988.
political subdivision thereof, any foreign
on a line, include cents when adding the
Generally, a pass-through entity is not
government, any international
amounts and round off only the total.
subject to the excise tax under section
organization, or any of their agencies or
Amended Return
860E(e)(6) if it obtains an affidavit from
instrumentalities (except for certain
the record holder signed under penalties
taxable instrumentalities described in
To amend a previously filed Form 8831,
of perjury that either furnishes the record
section 168(h)(2)(D) and the Federal
file a corrected Form 8831 marked
holder’s social security number or states
Home Loan Mortgage Corporation);
“Amended” at the top of the form.
that the record holder is not a
• Any tax-exempt organization (other than a
disqualified organization. The affidavit
Signature
farmers’ cooperative described in section
provides relief for any period during
521), unless that organization is subject to
which the pass-through entity does not
See the instructions for the “Signature”
the unrelated business income tax; and
have actual knowledge that the affidavit
section of your federal income tax
is false. However, this relief does not
• Any cooperative described in section
return.
apply to electing large partnerships.
1381(a)(2)(C).
Paid Preparer Use Only
A pass-through entity that owes both
A pass-through entity is a regulated
the excise tax in Part I under section
investment company, real estate
A paid preparer must sign Form 8831
860E(e)(1) (or the amount due under
investment trust, common trust fund,
and provide the information in the Paid
Regulations section 1.860E-2(a)(7)(ii))
partnership, trust, estate, or a cooperative
Preparer Use Only section at the end of
and the excise tax in Part II under
described in section 1381. A person
the form if the preparer was paid to
section 860E(e)(6) must file a separate
holding an interest in a pass-through entity
prepare the form and is not an employee
form for each tax.
as a nominee for another person is also
of the filing entity. Paid preparers must
treated as a pass-through entity.
sign paper forms with a manual
When To File
signature. The preparer must give you a
Who Must File
copy of the form in additional to the
For the excise tax due under section
copy to be filed with the IRS.
860E(e)(1), file Form 8831 and pay the
You must file Form 8831 if you are liable
tax by April 15 of the year following the
for the excise tax in Part I under section
If you are a paid preparer, enter your
calendar year in which the residual
860E(e)(1) (or the amount due under
Preparer Tax Identification Number
interest is transferred to a disqualified
Regulations section 1.860E-2(a)(7)(ii))
(PTIN) in the space provided. Include
organization. A pass-through entity must
because you transferred a residual
your complete address. If you work for a
file Form 8831 and pay the tax due
interest in a REMIC to a disqualified
firm, you also must enter the firm's name
under section 860E(e)(6) by the 15th day
organization after March 31, 1988
and the EIN of the firm in place of your
of the 4th month following the close of
(unless the transfer was made under a
PTIN.
binding contract in effect on that date).
File a separate Form 8831 for each
transfer of a residual interest.
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