Forms

Form 965-B: Corporate and Real Estate Investment Trust (REIT) Report of Net 965 Tax Liability and Electing REIT Report of 965 Amounts

Taxpayers and REITs must file Form 965-B to report net 965 tax liability for any given tax year and any remaining liabilities unpaid during a tax year, or any section 965 amount taken into account per section 965(m) of the U.S. Code.

What is Form 965-B?

Form 965-B is used by corporate taxpayers and REITs to report a taxpayer’s net 965 tax liability for each tax year in which section 965 amounts must be paid or included. This form is also used to report and adjust any outstanding net 965 tax liabilities, and for electing REITs, to report section 965 amounts taken into account over an 8-year period. All corporate taxpayers with any net 965 tax liabilities or an electing REIT with any section 965 amounts must complete and file Form 965-B with their income tax return for the reporting year. If the return is electronically filed, Form 965-B will be filed along with it.

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IRS Form 965-B – Who Needs to Fill It Out?

IRS Form 965-B must be completed by corporate taxpayers and REITs for each tax year in which a net 965 tax liability exists, either to be paid or included in the section 965 amounts. The form should also be used by electing REITs to report the section 965 amounts taken into account over a period of 8 years until the full amount is accounted for. All U.S. shareholders, including Deferred Foreign Income Corporation shareholders who own at least 10% of the total combined voting power of the foreign corporation’s stock, must file this form. Electronic filing is available when filing the tax return, while paper filing can be done by the due date (including any extensions granted).

Step-by-Step: Form 965-B Instructions For Filling Out the Document

This form must be completed by a corporate taxpayer in any tax year for which the taxpayer has any net 965 tax liability outstanding, or by an electing REIT with any section 965 amounts taken into account or not taken into account at any time during the tax year. For corporate taxpayers, Form 965-B is used to report the taxpayer’s net 965 tax liability for that tax year, and for elective REITs, it is used to report the section 965 amounts taken into account over an 8-year period. When filing, it must be included with the taxpayer’s income tax return by the due date (taking into account any extensions). For electronically filed returns, the form must be included with the return.

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Below, we present a table that will help you understand how to fill out Form 965-B.

Information Required for Form 965-B Details
Corporate Taxpayer or Electing REIT Check if the taxpayer is a corporate entity or an electing REIT.
Net 965 Tax Liability Report the taxpayer’s net 965 tax liability for the tax year.
Section 965 Amounts Indicate whether any section 965 amounts were taken into account during the tax year.
Filing Deadline Include the form with the income tax return by the due date, considering any extensions.
Electronic Filing If filing electronically, ensure that the form is included with the return.
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Do You Need to File Form 965-B Each Year?

Yes, corporations who have a net 965 tax liability for any tax year, or an electing REIT with any section 965 amount taken into account or unpaid at any point during the tax year, must file Form 965-B each year. This form should be submitted with the income tax return of the taxpayer by the due date (including extensions, if any). For electronic filings, Form 965-B should be sent along with the electronic income tax return.

Download the official IRS Form 965-B PDF

On the official IRS website, you will find a link to download Form 965-B. 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 965-B

Sources:

https://www.irs.gov/forms-pubs/about-form-965-b

https://www.irs.gov/instructions/i965b

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