Form Ct-1120a-Iric - Corporation Business Tax Return Apportionment Computation Of Income From Services To Regulated Investment Companies Page 2

Form CT-1120A-IRIC

Instructions

Affiliates - A person is affiliated with another person if each person

Complete this form in blue or black ink only. Use Form

is a member of the same affiliated group, as defined under section

CT-1120A-IRIC, Corporation Business Tax Return Apportionment

1504 of the Internal Revenue Code without regard to subsection

Computation of Income From Services to Regulated Investment

(b) of said section.

Companies, to apportion net income from services to or on behalf

of regulated investment companies (RICs).

Domicile - A shareholder’s domicile is presumed to be the

Complete a separate Form CT-1120A-IRIC, Schedule R-IRIC, for

shareholder’s mailing address as shown in the records of the

each RIC from which gross receipts are received from services

RIC. If the shareholder of record is an insurance company that

holds the shares of the RIC as depositor for the benefit of a

to or on behalf of RICs.

separate account, then the corporation may elect to treat as

A corporation must apportion income from services to RICs

the shareholders, the contract owners, or policyholders of the

separately using Form CT-1120A-IRIC. If the corporation

contracts or policies supported by such separate account. If this

qualifies as a financial service company, all other income will be

election is made, the domicile shall be presumed to be the mailing

apportioned using Form CT-1120A-FS, Corporation Business Tax

address of the contract owner or policyholder as shown in the

Return Apportionment Computation of Income From Financial

records of the insurance company.

Service Companies Activities. If the company does not qualify as

a financial service company, all other income must be apportioned

Schedule R-IRIC — Connecticut Receipts

in accordance with the appropriate schedule.

Complete this schedule to calculate Connecticut receipts received

from services provided to or on behalf of a RIC. If there are such

Definitions

receipts from more than one RIC, a separate Form CT-1120A-IRIC,

Regulated Investment Company (RIC) means a regulated

Schedule R-IRIC, must be completed to arrive at the total

investment company as defined in IRC §851.

Connecticut receipts from services provided to or on behalf of all

Receipts means receipts computed according to the method of

RICs. The federal taxable year of the RIC must end within or at

accounting used by the taxpayer in the computation of net income

the same time as the federal taxable year of the taxpayer.

from providing the following services:

Schedule A-1 — Computation of Connecticut

• Management services include but are not limited to the

Apportionment Fraction

rendering of investment advice directly or indirectly to a RIC,

Enter the combined total of Connecticut receipts from all Forms

making determinations as to when sales and purchases of

CT-1120A-IRIC, Schedule R-IRIC, Line 9, on Form CT-1120A-

securities are to be made on behalf of the RIC, or the selling

IRIC, Schedule A-1, Line 10. Enter the combined total from

or purchasing of securities constituting assets of a RIC, and

all Forms CT-1120A-IRIC, Schedule R-IRIC, Line 1, on Form

related activities, but only where such activity or activities are

CT-1120A-IRIC, Schedule A-1, Line 11. Divide Line 10 by Line 11,

performed: (i) according to a contract with the RIC entered

and enter the resulting apportionment fraction on Schedule A-1,

into under 15 USC §80a-15(a), as from time to time amended,

Line 12.

(ii) for a person that has entered into such contract with the

RIC, or (iii) for a person that is affiliated with a person that has

Enter the Connecticut apportionment fraction from Line 12 on

entered into such contract with a RIC.

Form CT-1120, Corporation Business Tax Return, Schedule A,

Line 2, only if the entire net income is attributable to services

• Distribution services include but are not limited to the

provided to or on behalf of RICs. If the corporation’s net income

services of advertising, servicing, marketing, or selling shares

is derived in part from sources other than services to or on behalf

of a RIC, but, in the case of advertising, servicing or marketing

of a RIC, complete Schedule A-1 and Schedule A-2.

shares, only where such service is performed by a person

that is, or, in the case of a closed-end company, was, either

Schedule A-2 — Computation of Connecticut Net Income

engaged in the service of selling such shares or affiliated with

Complete this schedule only if income is derived in part from

a person that is engaged in the service of selling such shares.

sources other than management, distribution, or administrative

In the case of an open-end company, such service of selling

services to or on behalf of RICs.

shares shall be performed according to a contract entered into

under 15 USC §80a-15(b), as from time to time amended.

• Administrative services include but are not limited to clerical,

fund, or shareholder accounting, participant record keeping,

transfer agency, bookkeeping, data processing, custodial,

internal auditing, legal, and tax services performed for a RIC,

but only if the provider of such service or services during the

income year in which such service or services are provided

also provides, or is affiliated with a person that provides,

management or distribution services to such RIC.

Form CT-1120A-IRIC Back (Rev. 12/12)

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