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Official form guide
Form 13976: Itemized Statement Component of Advisee List
Internal Revenue Service Form 13976 is the Itemized Statement Component of Advisee List. It collects advisor and transaction details and must include a summary or schedule of the tax treatment the advisee expects to derive.
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IRS Form 13976 - Itemized Statement Component of Advisee List
Internal Revenue Service Form 13976 is the Itemized Statement Component of Advisee List. It collects advisor and transaction details and must include a summary or schedule of the tax treatment the advisee expects to derive.
Risk Radar
Scan points- 1Omitting the required tax‑treatment summary makes the form incomplete.
- 2Leaving the Summary or Schedule of Tax Treatment blank for an advisee.
- 3Reporting more than one type of reportable transaction that are not substantially similar.
- 4Failing to include the Reportable Transaction Number when disclosed under section 6111.
- 5Omitting the Taxpayer Identification Number for a material advisor.
Plain English
Form 13976 lets a material advisor list each advisee in a reportable transaction. It records the advisor's details, the transaction type, and the tax benefit the advisee expects. All required information must be on the form or attached sheets.
Submission Date
- Filing date: 2012-07-17 00:00:00
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when a material advisor must report advisee information and a summary or schedule of the tax treatment for a reportable transaction.
- Do not use it when there is no reportable transaction or when filing is not required under § 6112.
- Check Form 13976 instead when the list is maintained under a prior version of Regulations section 301.6112‑1 and the required information exceeds the space provided.
Form selector
Use this form or another form?
Material advisor must report advisee details
Required to satisfy § 6112 reporting obligations
✓ Verify all advisee rows are completed
Additional advisee information exceeds available lines
Attach extra sheets in correct order
✓ Confirm attachment labels match form sections
Designation agreement needs to be signed
Signed Designation Agreement field must be marked Yes
✓ Ensure Yes/No box is selected
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Section I: Material Advisor Information
Advisor name, TIN, address, telephone · Form page 1, Section I
Section II: Reportable Transaction Information
Transaction name, number, type, guidance # · Form page 1, Section II
Section III: Other Material Advisors
Names, TINs, signed agreement status · Form page 1, Section III
Section IV: Advisee Information
Advisee name, TIN, address, date entered, amount invested, tax treatment summary · Form pages 1‑4, Section IV
Associated Documents field
Exhibit or Bates numbers (optional) · Form pages 1‑4, Section IV
Before you submit
- 1Verify the form revision date is 04-2008.
- 2Confirm all required fields in Section I are completed, including TIN.
- 3Ensure Section II contains the reportable transaction details and guidance number.
- 4Mark Yes/No for each Signed Designation Agreement in Section III.
- 5Fill each advisee line in Section IV with name, TIN, address, date entered, amount invested, and tax treatment summary.
- 6Attach additional sheets for extra advisees, labeled with corresponding line numbers.
- 7Sign the form in the designated signature area.
- 8Retain a copy of the completed form for records.
- 9Submit the form to the IRS as instructed (mail or electronic).
- 10Verify the OMB control number 1545-1686 appears on the form.
How to file this form
- 1Complete Section I with material advisor information.
- 2Enter reportable transaction details in Section II.
- 3Provide other material advisors and indicate signed designation agreements in Section III.
- 4Record each advisee’s information and tax treatment summary in Section IV.
- 5Attach any additional sheets required for extra advisees.
- 6Sign the form where indicated.
- 7Mail the signed form to the IRS address listed in the instructions and keep a copy as proof of filing.
Known limitations
- 1Form 13976 is optional; it provides a format but is not required (Form p.4).
- 2The form applies only to material advisors complying with the requirements of § 6112 (Form p.4).
- 3A person is not required to respond to the collection unless it displays a valid OMB control number (Form p.4).
- 4Books or records related to this collection must be retained as long as their contents may become material in the administration of any internal revenue law (Form p.4).
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The form revision date is 04-2008; the source notes the form is provided as a format only and is not required.
What changed or needs a fresh check
- Edition date — confirm the revision reads 04-2008
- Fee — Not stated in the official source
- Mailing address — Not stated in the official source
- Signature — confirm the form is signed where required
Quick Facts
Downloads
After you file
- 1Keep a complete copy of the submitted Form 13976 for your records.
- 2Retain all related books or records for as long as they may become material in the administration of any internal revenue law (Form p.4).
- 3No formal acknowledgment is sent; filing is considered complete upon submission.
- 4If an error is discovered, submit a corrected Form 13976 clearly indicating it supersedes the prior submission.
- 5Store any associated documents (exhibits, Bates numbers) referenced on the form with the advisee records.
Sources
- SRCForm p.1 — title, OMB number, and official form name.
- SRCForm p.1 — Section I: Material Advisor Information fields listed.
- SRCForm p.2 — Advisee Information and Summary or Schedule of Tax Treatment fields for entries 1‑5.
- SRCForm p.3 — Advisee Information fields continued for entries 6‑9.
- SRCForm p.4 — statement that the form is not required and provides a format for § 6112 compliance.
- SRCForm p.4 — retention requirement for books or records related to the collection.
- SRCForm p.4 — requirement that a person is not required to respond unless the collection displays a valid OMB control number.
- SRCForm p.4 — estimated annual burden per recordkeeper is 100 hours.
Common confusion points
Do I have to file Form 13976?
The form is optional and only a format for compliance.
→ Confirm the form states “This form is not required” (Form p.4).
Who must use this form?
Only material advisors subject to § 6112 are required to consider it.
→ Verify you are a material advisor under § 6112 (Form p.4).
Do I need an OMB control number to submit?
Responses are not required unless the collection displays a valid OMB number.
→ Verify the form shows OMB No. 1545-1686 (Form p.1).
How long must I keep the records?
Retention depends on when they may become material to tax law.
→ Retain until they are no longer potentially material (Form p.4).
What does “Associated Documents” mean?
The form lists optional fields for exhibit or Bates numbers.
→ If you have such documents, list their numbers; otherwise leave blank (Form p.2).
Is there a filing deadline?
The source does not specify a deadline.
→ Not stated in the official source — verify on the agency site.
Questions about IRS Form 13976
What is IRS Form 13976 used for?
Form 13976 lets a material advisor list each advisee in a reportable transaction. It records the advisor's details, the transaction type, and the tax benefit the advisee expects. All required information must be on the form or attached sheets.
Who must file IRS Form 13976?
Material advisors who have reportable transactions must file IRS Form 13976.
What information does IRS Form 13976 require?
The form gathers material advisor information, reportable transaction details, other material advisors, and for each advisee the invested amount and a summary of the expected tax treatment.
How do I complete IRS Form 13976?
Enter the material advisor’s name, address, phone and TIN in Section I. Provide the transaction name, type, and number in Section II. List other material advisors in Section III. For each advisee, supply name, address, date, amount invested and the tax‑treatment summary in the schedule. Attach additional sheets if space runs out, label them, and sign the designation agreement.
What happens if IRS Form 13976 is filed incorrectly?
If the form lacks the required summary or schedule of tax treatment, it is not considered complete and may be rejected.
Do I have to file Form 13976?
The form is optional and only a format for compliance. Confirm the form states “This form is not required” (Form p.4).
Who must use this form?
Only material advisors subject to § 6112 are required to consider it. Verify you are a material advisor under § 6112 (Form p.4).
Do I need an OMB control number to submit?
Responses are not required unless the collection displays a valid OMB number. Verify the form shows OMB No. 1545-1686 (Form p.1).
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