Form 1120-ND offers nuclear decommissioning funds the opportunity to report contributions, income, administrative expenses, and taxes related to self-dealing. All section 468A funds and disqualified persons engaging in self-dealing must file by the 15th day of the 4th month after the respective tax year. Foreign and U.S. possession funds must file at the P.O. Box in Ogden, UT, or submit their documents via PDS.
What is Form 1120-ND?
Form 1120-ND is an income tax return used by nuclear decommissioning funds to report contributions received, income earned, administrative expenses, and taxes on modified gross income. Electing under section 468A, those who likely must file this form include all section 468A nuclear decommissioning funds and those engaging in self-dealing as a trustee or disqualified person. The return must generally be filed by the 15th day of the 4th, or in some cases 3rd, month after the end of the tax year; if the due date falls on a weekend or holiday, the fund can file on the next business day. The address to file returns vary depending on location but are either Ogden, UT 84201-0012 within the US or, for those located abroad, Ogden, UT 84409; PDSs are also accepted.
IRS Form 1120-ND – Who Needs to Fill It Out?
IRS Form 1120-ND must be completed by all section 468A nuclear decommissioning funds. Additionally, any disqualified self-dealers must complete the form to report the initial tax. The completed return must be mailed to the IRS at the appropriate address depending on the country of its principal business. Generally, returns are due by the 15th day of the 4th month after the tax year ends. However, if the tax year ends in June, the return is due by the 15th day of the 3rd month after the end of the year, and if the due date falls on a weekend or holiday, the return can be filed on the next business day.
Step-by-Step: Form 1120-ND Instructions For Filling Out the Document
To report contributions received, income earned, administrative expenses, and taxes on modified gross income related to nuclear decommissioning funds, taxpayers electing under section 468A must file a Form 1120-ND. This form allows deductions for amounts contributed to a qualified fund up to 100% of the decommissioning costs of a nuclear power plant. Taxpayers should file this form by the 15th day of the 4th month after the end of their tax year. Funds with a fiscal tax year ending in June should file by the 15th day of the 3rd month after the end of their tax year; weekends and holidays are accounted for. Funds whose principal business is located in the US should file Form 1120-ND at the Internal Revenue Service Ogden, UT address, while those in US possessions or foreign countries should use the PO Box 409101 Ogden, UT address. PDSs can also be used.
Below, we present a table that will help you understand how to fill out Form 1120-ND.
| Form Name | Information Required | Details |
|---|---|---|
| Form 1120-ND | Step-by-Step Instructions for Form 1120-ND | Instructions for reporting contributions, income, expenses, and taxes related to nuclear decommissioning funds using Form 1120-ND. |
Do You Need to File Form 1120-ND Each Year?
All section 468A nuclear decommissioning funds, and disqualified persons or trustees that owe taxes under section 4951, must file Form 1120-ND each year. Generally, the return is due by the 15th day of the 4th month after the end of the tax year; however, funds with a fiscal tax year ending on June 30 must file by the 15th day of the 3rd month after the end of the tax year. Additionally, if the due date falls on a non-business day, the return should be filed on the next business day. Returns must be filed to the appropriate IRS address depending on the location of the fund’s business office.
Download the official IRS Form 1120-ND PDF
On the official IRS website, you will find a link to download Form 1120-ND. However, to make it easier for you, we are providing the link in our article, which comes directly from the official irs.gov website! Click to download: Form 1120-ND
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