Fillable Form 56-F - Notice Concerning Fiduciary Relationship Of Financial Institution (Page 2 of 2) in pdf

Form 56-F (Rev. 12-2009)

Page

Part II—Authority

General Instructions

still is a fiduciary for the same financial

institution, should file Form 56-F with the IRS

Check the appropriate box and attach a copy

as soon as possible.

Section references are to the Internal Revenue

of the appropriate order.

Code unless otherwise noted.

A fiduciary (defined above), who may have

previously filed Form 56 for a financial

Part III—Tax Notices

Purpose of Form

institution, and is still acting as a fiduciary for

the same institution, should file a new Form

All notices and other written communications

Use Form 56-F to notify the IRS of a fiduciary

with regard to income, employment, and

56-F as soon as possible.

relationship only if that relationship is with

excise taxes of the financial institution will be

respect to a financial institution (such as a

Where To File

addressed to the fiduciary, with the exception

bank or a thrift). Until you notify the IRS of

of notices sent to the common parent under

the fiduciary relationship, notices of tax

For purposes of section 6402(k) and section

the provisions of Regulations section

liability sent to the last known address of the

6903, send Form 56-F to the Internal Revenue

1.1502-77. Other notices and written

taxpayer, or transferee, subject to liability are

Service Center where the financial institution

communications will be addressed to the

considered sufficient compliance by the IRS

for whom the fiduciary is acting files its income

fiduciary only as specified. For example, use

with the requirements of the Internal Revenue

tax return.

this line to identify a transferee tax liability

Code. However, if the financial institution is a

For purposes of section 6036, send Form

under section 6901.

member of a consolidated group, the

56-F to the Advisory Group Manager,

provisions of Regulations section 1.1502-77

Part IV—Revocation or

Advisory, Insolvency and Quality (AIQ) Office,

apply to the extent not modified by section

of the area office of the IRS having

Termination of Notice

6402(k) and Regulations section 301.6402-7.

jurisdiction over the person for whom you are

In addition, the filing of Form 56-F is a

acting.

Complete this part if you are revoking or

requirement to secure a refund pursuant to

terminating all prior notices concerning

section 6402(k) and Regulations section

Specific Instructions

fiduciary relationships on file with the IRS for

301.6402-7.

the same tax matters and years or periods

Part I—Identification

Section 6036 and Regulations section

covered by this notice concerning fiduciary

301.6036-1 state that a notice is required of a

relationship.

Lines 1–5. Provide all the requested

receiver in proceedings other than

information concerning the financial institution

Signature

bankruptcy, and other like fiduciaries. Section

in this part.

6402(k) and Regulations section 301.6402-7

Sign Form 56-F and enter the title describing

state that a fiduciary of an insolvent financial

Line 2. Section 6109 requires that the

your role as a fiduciary (receiver or

institution must file Form 56-F to secure its

taxpayer’s identification number must be

conservator).

position with respect to any refund which

disclosed. The principal purpose is to identify

may be available to a consolidated group.

the financial institution for whom you are

acting.

Section 6903 and Regulations section

Paperwork Reduction Act Notice. We ask for

301.6903-1 state that every person acting in a

the information on the form to carry out the

Line 7. Check this box if the financial

fiduciary capacity must file a written notice

Internal Revenue laws of the United States.

institution is insolvent within the meaning of

with the IRS.

You are required to give us the information.

12 U.S.C. 191, 12 U.S.C. 1821(c)(5)(A), 12

We need it to ensure that you are complying

U.S.C. 1464(d)(2)(A), 12 U.S.C. 1464(d)(2)(C)(i)

Who Should File

with these laws and to allow us to figure and

or any applicable state law (or any successor

collect the right amount of tax.

statute which adopts a substantially similar

Form 56-F should be filed instead of Form

statute).

You are not required to provide the

56, Notice Concerning Fiduciary Relationship,

information requested on a form that is

by the federal agency acting as a fiduciary

Lines 9–13. Provide all the requested

subject to the Paperwork Reduction Act

(defined below) in order to notify the IRS of

information regarding the fiduciary in this part.

unless the form displays a valid OMB control

the creation, termination, or change in status

For example, on line 9 enter the full name of

number. Books or records relating to a form or

of a fiduciary relationship with a financial

the fiduciary (such as the Federal Deposit

its instructions must be retained as long as

institution.

Insurance Corporation or similar federal

their contents may become material in the

agency).

Definition

administration of any Internal Revenue law.

Line 10. The contact person should be the

Generally, tax returns and return information

Fiduciary. A fiduciary means the Federal

individual within the federal agency who has

are confidential, as required by section 6103.

Deposit Insurance Corporation, or other

the authority to handle all tax matters on

The time needed to complete and file Form

federal agency authorized by law to act as a

behalf of the financial institution.

56-F will vary depending on individual

receiver or conservator of a financial

circumstances. The estimated average time is:

Lines 16–21. Provide all the requested

institution. The term also includes any federal

information in this part concerning the

instrumentality, subsidiary, or agency that is a

Recordkeeping

7 hrs., 39 min.

common parent of a consolidated group

predecessor or successor of this agency that

Learning about the

which includes (or included) the financial

is so authorized.

law or the form

47 min.

institution (if applicable).

When To File

Preparing the form

57 min.

If the form is submitted in compliance with

Copying, assembling,

the regulations under section 6402(k), the

Form 56-F must be filed with the IRS within

identification number of the common parent

and sending the form

10 days from the date the fiduciary is

to the IRS

0 min.

should be disclosed.

appointed to act as a receiver or conservator.

If the financial institution was a member of

In addition, it should be filed in every

If you have comments concerning the

more than one consolidated group during any

subsequent tax year that the fiduciary

accuracy of these time estimates or

year(s) to which the fiduciary may claim a

continues to act as the receiver or

suggestions for making Form 56-F simpler, we

refund under section 6402(k), then the

conservator for that financial institution for

would be happy to hear from you. You can

fiduciary must file a separate Form 56-F

purposes of section 6402(k).

write to the Internal Revenue Service, Tax

providing the information on each parent.

Products Coordinating Committee,

If a Form 56-F has been filed for a solvent

SE:W:CAR:MP:T:T:SP, 1111 Constitution Ave.

Line 20. Check the box if a copy of the form

financial institution by the fiduciary and

NW, IR-6526, Washington, DC 20224. Do not

was sent to the appropriate common parent

subsequently that financial institution

send the form to this address. Instead, see

in compliance with the Regulations section

becomes insolvent, the fiduciary should file a

Where To File on this page.

301.6402-7.

new Form 56-F and check the box on line 7.

Note. A fiduciary (defined above), who was

appointed a fiduciary of a financial institution

prior to the issuance of Form 56-F and who

Form 56-F - Notice Concerning Fiduciary Relationship Of Financial Institution Page 2

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