Form 8831 - Excise Taxes On Excess Inclusions Of Remic Residual Interests Page 3
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Form 8831 (Rev. 1-2012)
Page
Specific Instructions
Privacy Act and Paperwork Reduction
The REMIC must furnish the
information needed to figure the amount
Act Notice. We ask for the information
on line 4 upon your request. The
on this form to carry out the Internal
Name and Address
information must be furnished within 60
Revenue laws of the United States. We
Enter the name shown on your most
days of the request. The REMIC may
need it to figure and collect the right
recently filed federal income tax return.
charge a fee for this information.
amount of tax. This form is used to
Include the suite, room, apartment, or
determine the amount of taxes you owe
Line 6. Enter the amounts reported on
other unit number after the street
as imposed by section 860E. Section
Schedule Q (Form 1066), Quarterly
address. If the Post Office does not
6011 requires you to provide the
Notice to Residual Interest Holder of
deliver mail to the street address and
requested information if the tax is
REMIC Taxable Income or Net Loss
you have a P.O. box, show the box
applicable to you. Section 6109 requires
Allocation, line 2c, to the disqualified
number instead of the street address.
you to provide your taxpayer
organization for the period it held the
identification number (SSN or EIN).
residual interest.
Identifying Number
Routine uses of this information include
Part II
giving it to the Department of Justice for
If you are an individual, enter your social
civil and criminal litigation and to cities,
security number. Other filers, enter your
Line 9. Enter the amounts reported on
states, and the District of Columbia for
employer identification number.
Schedule Q (Form 1066), line 2c, for the
use in administering their tax laws. We
Part I
tax year of the pass-through entity that
may also disclose this information to
are allocable to all disqualified
other countries under a tax treaty, to
Line 4. The excess inclusions expected
organizations that held an interest in the
federal and state agencies to enforce
to accrue must be determined as of the
entity.
federal nontax criminal laws, or to
date the residual interest is transferred
federal law enforcement and intelligence
Line 10. In general, deduct the amount
and must be based on events that have
agencies to combat terrorism. If you fail
on line 10 to figure the ordinary income
occurred up to the time of the transfer,
to provide this information in a timely
of the pass-through entity. For example,
the prepayment and reinvestment
manner, you may be subject to penalties
a real estate investment trust deducts
assumptions adopted under section
and interest.
the tax to figure its real estate
1272(a)(6) (or that would have been
investment trust taxable income under
You are not required to provide the
adopted if the REMIC’s regular interests
section 857(b)(2). However, an electing
information requested on a form that is
had been issued with original issue
large partnership excludes the amount
subject to the Paperwork Reduction Act
discount), and any required or permitted
subject to tax (line 9) instead of
unless the form displays a valid OMB
clean-up calls, or required qualified
deducting the tax (line 10) from its
control number. Books or records
liquidation provided under the REMIC’s
income.
relating to a form or its instructions must
organizational documents.
be retained as long as their contents
Part III
The present value of the excess
may become material in the
inclusions expected to accrue is
administration of any Internal Revenue
Line 12. If you filed Form 7004, enter
determined by discounting all remaining
law. Generally, tax returns and return
the amount paid, if any, when you filed
excess inclusions expected to accrue on
information are confidential, as required
that form.
the residual interest from the end of
by section 6103.
Line 13. You must pay the full amount
each calendar quarter in which those
The time needed to complete and file
reported on line 13. If payment will
inclusions are expected to accrue to the
this form will vary depending on
accompany the form, make your check
date the disqualified organization
individual circumstances. The estimated
or money order payable to the “United
acquired the residual interest. The
average time is: Recordkeeping, 4 hr.,
States Treasury.” Write your name,
discount rate to be used in this
32 min.; Learning about the law or the
address, identifying number, and “Form
computation is the applicable federal
form, 1 hr., 29 min.; Preparing,
8831” on the check or money order.
rate under section 1274(d)(1) that would
copying, assembling, and sending the
apply to a debt instrument issued on the
You may also make your payment
form to the IRS, 1 hr., 37 min.
date the disqualified organization
using the Electronic Federal Tax
acquired the residual interest and with a
If you have comments concerning the
Payment System (EFTPS). To do so you
term that ends on the last day of the last
accuracy of these time estimates or
must be enrolled in EFTPS. To enroll in
quarter in which excess inclusions are
suggestions for making this form
or get more information about EFTPS,
expected to accrue for the interest.
simpler, we would be happy to hear
visit
from you. You can write to the Internal
Line 14. The IRS will refund the amount
Revenue Service, Tax Products
on line 14 if you owe no other taxes.
Coordinating Committee,
SE:W:CAR:MP:T:M:S, 1111 Constitution
Ave. NW, IR-6526, Washington, DC
20224. Do not send the tax form to this
address. Instead, see Where To File,
earlier.
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