What is Form 965-B?
Form 965-B is used by corporations and Real Estate Investment Trusts (REITs) to report their net 965 tax liability and any amounts they elect concerning the 965 tax. This form is important because it helps ensure that businesses accurately report their tax obligations related to international income. By filing Form 965-B, companies comply with IRS regulations, which helps avoid penalties and ensures proper tax treatment of foreign assets. Understanding this form is crucial for maintaining good standing with tax authorities.
What is Form 965-B used for?
Form 965-B is used by corporations and REITs to report their net 965 tax liability and amounts related to 965 elections:
- to report net tax liability.
- to elect amounts under section 965.
- to provide necessary financial details.
How to fill out Form 965-B?
- 1
Review the instructions for Form 965-B.
- 2
Fill in your entity’s name and Employer Identification Number (EIN) in the appropriate fields.
- 3
Complete the sections regarding the net 965 tax liability and any applicable elections.
- 4
Double-check all entries for accuracy and completeness.
- 5
Add any necessary attachments as indicated in the instructions.
- 6
Sign the form electronically.
- 7
Submit the completed form according to IRS guidelines, ensuring timely filing.
Who is required to fill out Form 965-B?
Corporate taxpayers with a Section 965 net tax liability for 2017 or 2018 must complete Form 965-B. REITs also elect to report Section 965 amounts using this form.
After completion, U.S. shareholders of specific foreign corporations, whether corporations or REITs, use Form 965-B for tax reporting purposes.
When is Form 965-B not required?
Form 965-B isn't needed for individual taxpayers or entities taxed like individuals, as they use Form 965-A instead.
Organizations exempt under section 501(a) also do not need to file this form unless the Section 965 amounts are subject to tax under section 511 or section 4940. Additionally, if there’s no Section 965 net tax liability in 2017 or 2018, filing is not required.
When is Form 965-B due?
The deadline for Form 965-B is with the corporation's 2018 income tax return. For later years, it should be filed with the income tax return each year if there is any Section 965(h) net tax liability still unpaid at any point during the tax year.
If a REIT makes the Section 965(m) election, Form 965-B must be filed as long as there are any Section 965 amounts not accounted for during the tax year. Even if the election was made to pay in installments, the form needs to be filed in subsequent years.
How to get a blank Form 965-B?
You can find a blank version ready to fill on our platform. Remember, while our website helps you prepare and download the form, it does not support filing.
The IRS issues Form 965-B.
How to sign Form 965-B online?
To sign Form 965-B using PDF Guru, first, click on “Fill Form” to load the blank version of the form in the PDF editor. Fill out the necessary fields, and when you’re ready to sign, create a simple electronic signature within the platform.
After completing the form and adding your signature, click “Done” to download it for your records. Always check official sources regarding specific signature requirements for Form 965-B to ensure compliance.
Where to file Form 965-B?
Form 965-B must be submitted to the Internal Revenue Service (IRS).
Submission methods: mail, electronic or in-person.
