Instructions For Form 1120-Reit - 2016 (Page 6 of 19) in pdf

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controls a foreign corporation; acquires,

Immediately after the contribution, the

disposes of, or owns 10% or more in value

REIT owned, directly or indirectly, at least

Required

or vote of the outstanding stock of a

a 10% interest in the foreign partnership;

In addition to Form 1120-REIT, the REIT

foreign corporation; or had control of a

may have to file some of the following

foreign corporation for an uninterrupted

The FMV of the property the REIT

forms. Also see Pub. 542, Corporations,

period of at least 30 days during the

contributed to the foreign partnership in

for an expanded list of forms the REIT may

annual accounting period of the foreign

exchange for a partnership interest, when

be required to file.

corporation. See Question 4 of

added to other contributions of property

Schedule N (Form 1120).

made to the foreign partnership during the

Form 926, Return by a U.S. Transferor of

preceding 12-month period, exceeds

Property to a Foreign Corporation, is filed

Form 5472, Information Return of a 25%

$100,000.

to report certain transfers to foreign

Foreign-Owned U.S. Corporation or a

Also, the REIT may have to file Form

corporations under section 6038B.

Foreign Corporation Engaged in a U.S.

8865 to report certain dispositions by a

Trade or Business. This form is filed if the

Form 966, Corporate Dissolution or

foreign partnership of property it

REIT is 25% or more foreign owned. See

Liquidation, is used to report the adoption

previously contributed to that foreign

the instructions for Question 5,

of a resolution or plan to dissolve the

partnership if it was a partner at the time of

Schedule K, later.

corporation or liquidate any of its stock.

the disposition. For more details, including

Form 8275, Disclosure Statement, and

Form 976, Claim for Deficiency

penalties for failing to file Form 8865, see

Form 8275-R, Regulation Disclosure

Dividends Deductions by a Personal

Form 8865 and its separate instructions.

Statement, are used to disclose items or

Holding Company, Regulated Investment

positions taken on a tax return that are not

Form 8875, Taxable REIT Subsidiary

Company, or a Real Estate Investment

otherwise adequately disclosed on a tax

Election, is filed jointly by a corporation

Trust, is used to claim a deduction for

return or that are contrary to Treasury

and a REIT to have the corporation treated

deficiency dividends. See section 860 and

Regulations (to avoid parts of the

as a taxable REIT subsidiary.

the related regulations.

accuracy-related penalty or certain

Form 8927, Determination Under 860(e)

Forms 1042, Annual Withholding Tax

preparer penalties).

(4) by a Qualified Investment Entity. Use

Return for U.S. Source Income of Foreign

Form 8300, Report of Cash Payments

Form 8927 to make a determination under

Persons, Form 1042-S, Foreign Person's

Over $10,000 Received in a Trade or

Section 860(e)(4) and to establish the

U.S. Source Income Subject to

Business. Use this form to report the

date of determination for purposes of

Withholding, and Form 1042-T, Annual

receipt of more than $10,000 in cash or

making a deficiency dividend distribution.

Summary and Transmittal of Forms

foreign currency in one transaction or a

1042-S. Use these forms to report and

Statements

series of related transactions.

send withheld tax on payments or

distributions made to nonresident alien

Form 8612, Return of Excise Tax on

Reportable transaction disclosure

individuals, foreign partnerships, or foreign

Undistributed Income of Real Estate

statement. Disclose information for each

corporations to the extent these payments

Investment Trusts, is filed if the REIT is

reportable transaction in which the REIT

constitute gross income from sources

liable for the 4% excise tax on

participated. Form 8886, Reportable

within the United States (see sections 861

undistributed income imposed under

Transaction Disclosure Statement, must

through 865).

section 4981.

be filed for each tax year that the federal

Also, see sections 1441 and 1442, and

Form 8621, Information Return by a

income tax liability of the REIT is affected

Pub. 515, Withholding of Tax on

Shareholder of a Passive Foreign

by its participation in the transaction. The

Nonresident Aliens and Foreign Entities.

Investment Company or Qualified Electing

following are reportable transactions.

Fund. Use this form to make certain

Form 1099-DIV, Dividends and

1. Any listed transaction, which is a

elections by shareholders in a passive

Distributions. Use this form to report

transaction that is the same as or

foreign investment company and to figure

certain dividends and distributions.

substantially similar to one of the types of

certain deferred taxes.

transactions that the IRS has determined

Form 2438, Undistributed Capital Gains

to be a tax avoidance transaction and

Form 8865, Return of U.S. Persons With

Tax Return, must be filed by the REIT if it

identified by notice, regulation, or other

Respect To Certain Foreign Partnerships.

designates undistributed net long-term

published guidance as a listed

A REIT may have to file Form 8865 if it:

capital gains under section 857(b)(3)(D).

transaction.

1. Controlled a foreign partnership

Form 2439, Notice to Shareholder of

2. Any transaction offered under

(i.e., owned more than a 50% direct or

Undistributed Long-Term Capital Gains,

conditions of confidentiality for which the

indirect interest in the partnership).

must be completed and a copy given to

REIT (or a related party) paid an advisor a

2. Owned at least a 10% direct or

each shareholder for whom the REIT paid

fee of at least $250,000.

indirect interest in a foreign partnership

tax on undistributed net long-term capital

3. Certain transactions for which the

gains under section 857(b)(3)(D).

while U.S. persons controlled that

REIT (or a related party) has contractual

partnership.

Form 3520, Annual Return To Report

protection against disallowance of the tax

3. Had an acquisition, disposition, or

Transactions With Foreign Trusts and

benefits.

change in proportional interest in a foreign

Receipt of Certain Foreign Gifts, is

4. Certain transactions resulting in a

partnership that:

required either if the REIT received a

loss of at least $10 million in any single

Increased its direct interest to at least

distribution from a foreign trust or if the

year or $20 million in any combination of

10% or reduced its direct interest of at

REIT was a grantor of, transferor of, or

years.

least 10% to less than 10%.

transferor to a foreign trust that existed

Changed its direct interest by at least a

5. Any transaction identified by the

during the tax year. See Question 5 of

10% interest.

IRS by notice, regulation, or other

Schedule N (Form 1120).

published guidance as a “transaction of

4. Contributed property to a foreign

Form 5471, Information Return of U.S.

interest.” See Notice 2009-55, 2009-31

partnership in exchange for a partnership

Persons With Respect to Certain Foreign

I.R.B. 170.

interest if:

Corporations, is required if the REIT

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Instructions For Form 1120-Reit - 2016 Page 6

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