Fill - Free fillable Return of Excise Tax on Undistributed Income of Regulated Investment Companies Form 8613 PDF form

Form 8613

(Rev. October 2016)

Department of the Treasury

Internal Revenue Service

Return of Excise Tax on Undistributed Income of

Regulated Investment Companies

For calendar year 20

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Information about Form 8613 and its instructions is at www.irs.gov/form8613.

OMB No. 1545-1016

Please

Type

Name of fund Employer identification number

Number, street, and room or suite no. If a P.O. box, see instructions.

City or town, state, and ZIP code

• Election under section 4982(e)(4)—Check this box if the tax year of the regulated investment company ends in November or

December and the fund elects to substitute its tax year for the 1-year period ending on October 31. See

instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Required Distribution

Investment company taxable income under section 852(b)(2) for

the calendar year determined without regard to the dividends

paid deduction and any gain or (loss) from the sale or exchange

of a capital asset (see instructions) . . . . . . . . . . .

b Multiply line 1a by 98% (0.98) . . . . . . . . . . . . . . . . . . . . . 1b

Capital gain net income under section 4982(e)(2) for the 1-year

period ending on October 31 of the calendar year (see

instructions) . . . . . . . . . . . . . . . . . .

b Multiply line 2a by 98.2% (0.982) . . . . . . . . . . . . . . . . . . . . 2b

Grossed up required distribution for the previous calendar year.

Add lines 1a and 2a (using amounts for the previous calendar

year) increased by the prior year’s shortfall (if any), as defined in

section 4982(b)(2) . . . . . . . . . . . . . . . .

b Distributed amount for the previous calendar year under section

4982(c) . . . . . . . . . . . . . . . . . . . .

c Subtract line 3b from line 3a. If zero or less, enter -0- . . . . . . . . . . . . . 3c

4 Required distribution. Add lines 1b, 2b, and 3c . . . . . . . . . . . . . . . 4

Distributed Amount

Deduction for dividends paid under section 561 during the calendar year, excluding exempt-

interest dividends (see instructions). Include deficiency dividends as defined in section 860(f),

but only if paid during the calendar year . . . . . . . . . . . . . . . . . .

6 Amount on which tax is imposed under sections 852(b)(1) or 852(b)(3)(A) for any tax year

ending in or with the calendar year (see instructions) . . . . . . . . . . . . . .

7 a Distributed amount for the previous calendar year under section

4982(c). Enter amount from line 3b . . . . . . . . . . .

b Grossed up required distribution for the previous calendar year.

Enter amount from line 3a . . . . . . . . . . . . .

c Subtract line 7b from line 7a. If zero or less, enter -0- . . . . . . . . . . . . . 7c

8 Distributed amount. Add lines 5, 6, and 7c . . . . . . . . . . . . . . . . . 8

Tax and Payments

9 Undistributed income. Subtract line 8 from line 4. If zero or less, enter -0- . . . . . . 9

10 Excise tax on undistributed income. Multiply line 9 by 4% (0.04) . . . . . . . . . . 10

11 Tax paid with extension of time to file (Form 7004) . . . . . . . . . . . . . . 11

12 Tax due. Subtract line 11 from line 10. See instructions . . . . . . . . . . . . . 12

13 Overpayment. Subtract line 10 from line 11 . . . . . . . . . . . . . . . . 13

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is

true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

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Signature of officer

Date

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Title

Paid

Preparer

Use Only

Print/Type preparer’s name Preparer’s signature Date

Check if

self-employed

PTIN

Firm’s name

▶

Firm’s EIN

▶

Firm’s address

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Phone no.

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 63985M

Form 8613 (Rev. 10-2016)

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Form 8613 (Rev. 10-2016)

Page 2

General Instructions

Section references are to the Internal

Revenue Code.

Future Developments

The IRS has created a page on IRS.gov

for information about Form 8613, at

www.irs.gov/form8613. Information

about any future developments affecting

Form 8613 such as legislation enacted

after we release it will be posted on that

page.

Purpose of Form

Use Form 8613 to figure and pay the

excise tax on undistributed income

under section 4982. The tax is 4% of the

excess, if any, of the required

distribution over the distributed amount.

Also use Form 8613 to make the

section 4982(e)(4) election.

Who Must File

Any regulated investment company (RIC)

that is liable for the tax on undistributed

income or that makes an election under

section 4982(e)(4) must file Form 8613. A

RIC that makes this election must file the

form even if no tax is due.

If a RIC has more than one fund, each

fund files a separate Form 8613. The

term “fund” refers to a series fund as

defined in section 851(g) and to any RIC

that does not have more than one

portfolio of assets.

Exemption. The tax does not apply to

funds in which all the shareholders

during the year were certain trusts or

segregated asset accounts of a life

insurance company. Shares attributable

to an investment of no more than

$250,000 made in connection with the

organization of the RIC will not prevent

the RIC from qualifying for this

exemption. See section 4982(f).

When and Where To File

File Form 8613, with the Internal

Revenue Service Center where the

fund’s income tax return is filed, by

March 15 following the calendar year in

which the tax liability applies.

Extension of time to file. File Form

7004, Application for Automatic

Extension of Time To File Certain

Business Income Tax, Information, and

Other Returns, to request an extension

of time to file. Filing Form 7004 does not

extend the time for payment of tax.

Amended Return

To amend a previously filed Form 8613,

file a corrected Form 8613 and write

“Amended” at the top of the form.

Who Must Sign

Form 8613 must be signed and dated by

the president, vice president, treasurer,

assistant treasurer, chief accounting

officer, or by any other officer (such as

tax officer) authorized to sign. Receivers,

trustees, or assignees must also sign

and date any return filed on behalf of a

fund.

Note: If this return is being filed for a

series fund (see section 851(g)(2)), the

return may be signed by any officer

authorized to sign for the RIC in which

the fund is a series.

Rounding Off to Whole

Dollars

The fund may show amounts on the

return as whole dollars. To do so, drop

any amount less than 50 cents and

increase any amount from 50 cents

through 99 cents to the next higher

dollar.

Interest and Penalties

Interest. Interest is charged on taxes

paid late even if an extension of time to

file is granted. Interest is also charged on

penalties imposed for failure to file,

negligence, fraud, and substantial

understatements of tax from the due

date (including extensions) to the date of

payment. The interest charge is figured

at a rate determined under section 6621.

Late filing of return. A fund that doesn’t

file its tax return by the due date,

including extensions, may have to pay a

penalty of 5% of the unpaid tax for each

month or part of a month the return is

late, up to a maximum of 25% of the

unpaid tax. The minimum penalty for a

return that is over 60 days late is the

smaller of the tax due or $205.

The penalty won’t be imposed if the

fund can show that the failure to file on

time was due to reasonable cause. If the

fund receives a notice about penalties

after it files its return, send the IRS an

explanation and we will determine if the

fund meets the reasonable cause

criteria. Do not attach an explanation

when the return is filed.

Late payment of tax. A fund that

doesn’t pay the tax when due may be

penalized ½ of 1% of the unpaid tax for

each month or part of a month the tax is

not paid, up to a maximum of 25% of the

unpaid tax. This penalty won’t be

imposed if the fund can show that the

failure to pay on time was due to

reasonable cause.

Other penalties. Other penalties can be

imposed for negligence, substantial

understatement of tax, and fraud. See

sections 6662, 6662A, and 6663.

Specific Instructions

Period covered. Show the calendar year

for which the return is filed at the top of

the form. Figure income on a calendar

year basis even if the fund files its

income tax return and keeps its books

and records on a fiscal year basis.

Address. Include the suite, room, or

other unit number after the street

address. If the Post Office does not

deliver mail to the street address and the

fund has a P.O. box, show the box

number instead.

Election under section 4982(e)(4). This

election is available to funds whose tax

years end in November or December. If

the fund qualifies, it may substitute its

tax year for the 1-year period ending on

October 31.

If the RIC makes the election, Form

8613 must be filed even if no tax is due.

The election is made no later than the

time for filing Form 8613 (including

extensions) for the year in which the

election will apply. Once made, the

election is revocable only with IRS

consent.

Required Distribution

Line 1a. Include on this line the following

types of income.

1. Adjustments that result in the

distribution of deficiency dividends

under section 860(f) for the year in which

the dividends are paid.

2. If a RIC is a partner in a partnership,

recognize the fund’s share of partnership

ordinary income (loss) and deductions at

the same time they are taken into

account by the partnership, regardless of

the fund’s tax year or the tax year of the

partnership in which the fund is a

partner. See Rev. Rul. 94-40, 1994-1

C.B. 274.

Also see Rev. Proc. 94-71, 1994-2

C.B. 810, for the circumstances under

which the IRS will not challenge the

method used by a fund to account for

partnership items when its required

distribution is determined under section

4982.

3. Any foreign currency gain or loss

attributable to a section 988 transaction

that would be properly taken into

account for the part of the calendar year

after October 31 is taken into account in

the following year. If the RIC makes an

election under section 4982(e)(4), the last

day of the fund’s tax year is substituted

for October 31.

Form 8613 (Rev. 10-2016)

Page 3

4. Ordinary gain or loss from a

disposition of stock in a passive foreign

investment company is determined as if

the fund’s calendar year tax year ended

on October 31. Gain or loss for the part

of the calendar year after October 31 is

taken into account in the following year.

If the section 4982(e)(4) election is made,

the last day of the fund’s tax year is

substituted for October 31.

Election to defer certain ordinary

losses. For calendar years beginning

after December 31, 2010, a RIC may

elect under section 4982(e)(7) to

determine its ordinary income for the

calendar year by deferring its net

ordinary loss (figured without regard to

specified gains and losses taken into

account under section 4982(e)(5))

attributable to the portion of the calendar

year that begins after the tax year. If this

election is made, any amount of the net

ordinary loss not taken for a calendar

year will be treated as arising on the first

day of the following calendar year. For

more information, see section 4982(e)(7).

To make the election, attach a

statement to the return for the year in

which the election will apply indicating

the RIC is electing to defer its net

ordinary loss under section 4982(e)(7)

and specifying the amount of the net

ordinary loss that the RIC is electing to

defer.

Line 2a. Include on this line the following

items.

1. Capital gain net income from

deficiency dividends referred to in line 1a

above.

2. The fund’s share of partnership

capital gain net income taken into

account at the same time as it is taken

into account by the partnership,

regardless of the fund’s tax year or the

tax year of the partnership in which the

fund is a partner.

If the RIC does not make the section

4982(e)(4) election, capital gain net

income is figured on the basis of a

1-year period ending on October 31 of

the calendar year.

If the RIC makes the election under

section 4982(e)(4), substitute the fund’s

tax year for the 1-year period ending on

October 31. A special rule applies,

however, to the first year the fund

makes the election if that year is not the

first year the fund is subject to the tax

under section 4982. For that year, capital

gain net income is figured for the period

beginning on November 1 of the year

immediately preceding the election year

and ending on the last day of the first tax

year for which the election was made.

Distributed Amount

Line 5. Enter dividends paid during the

calendar year. Include dividends

declared in October, November, or

December of that calendar year that are

payable to shareholders of record on a

specified date in one of these months,

but only if actually paid by the fund

during January of the following calendar

year. See section 852(b)(7). Do not

include other dividends paid after the

close of the calendar year.

Line 6. Line 6 is the total of the following

amounts figured for the tax year of the

fund ending in or with the calendar year

for which this return is filed.

1. Taxable income from Form

1120-RIC, Part I, line 26, and the amount

subject to tax on Form 1120-RIC, Part II,

line 3; and

2. Undistributed capital gains

designated under section 852(b)(3)(D)

from Form 2438, line 11.

Tax and Payments

Line 12. Full payment of the tax due on

line 12 must be attached to this return.

Make the RIC’s check or money order

payable to the “United States Treasury.”

The RIC can pay the tax electronically

itself or arrange for an electronic funds

transfer through a trusted third party.

Generally, electronic funds transfers are

made using the Electronic Federal Tax

Payment System (EFTPS). To get more

information about EFTPS or to enroll in

EFTPS, visit www.eftps.gov, or call

1-800-555-4477 (TTY/TDD

1-800-733-4829).

Paperwork Reduction Act Notice. We

ask for the information on this form to

carry out the Internal Revenue laws of

the United States. You are required to

give us the information. We need it to

ensure that you are complying with these

laws and to allow us to figure and collect

the right amount of tax.

You are not required to provide the

information requested on a form that is

subject to the Paperwork Reduction Act

unless the form displays a valid OMB

control number. Books or records

relating to a form or its instructions must

be retained as long as their contents

may become material in the

administration of any Internal Revenue

law. Generally, tax returns and return

information are confidential, as required

by section 6103.

The time needed to complete and file

this form will vary depending on

individual circumstances. The estimated

average time is:

Recordkeeping . . . . 6 hr., 42 min.

Learning about the

law or the form . . . . 2 hr., 28 min.

Preparing and sending

the form to the IRS . . . 2 hr., 42 min.

If you have comments concerning the

accuracy of these time estimates or

suggestions for making this form

simpler, we would be happy to hear from

you. You can send us comments from

www.irs.gov/formspubs/. Click on “More

Information” and then on “Give us

feedback.” Or you can write to Internal

Revenue Service, Tax Forms and

Publications Division, 1111 Constitution

Ave. NW, IR-6526, Washington, DC

20224. Do not send the form to this

office. Instead, see When and Where To

File, earlier.

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Return of Excise Tax on Undistributed Income of Regulated Investment Companies Form 8613

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