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Form 8831: Excise Taxes on Excess Inclusions of REMIC Residual Interests
IRS Form 8831 is used to report and pay excise taxes on excess inclusions of REMIC residual interests for filers who transferred a residual interest to a disqualified organization. A general penalty rate is 5% a month or part of a month.
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IRS Form 8831 - Excise Taxes on Excess Inclusions of REMIC Residual Interests
IRS Form 8831 is used to report and pay excise taxes on excess inclusions of REMIC residual interests for filers who transferred a residual interest to a disqualified organization. A general penalty rate is 5% a month or part of a month.
Risk Radar
Scan points- 1Failing to file a separate Form 8831 for each transfer of a residual interest will result in an incomplete filing record.
- 2Filing without a separate Form 8831 for each individual transfer of interest.
- 3Not correctly identifying if the tax due is under section 860E(e)(1), (a)(7)(ii), or (e)(6).
- 4Omitting the required ending date of the pass-through entity’s tax year on line 8.
- 5Entering an incorrect amount for excess inclusions on Part II, Line 9.
Plain English
This form lets taxpayers report specific excise taxes owed when an investment in a REMIC (a type of investment company) is given to a disqualified organization. It also handles payments for certain tax waivers and the excise tax due on pass-through entities with interests held by those organizations. Filers use this form to pay these required excise taxes to the IRS.
Submission Date
- Filing date: 2019-03-13 23:00:17
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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Glossary Terms
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What this form is for
- Use this form when you are liable for excise tax under section 860E(e)(1) because you transferred a residual interest in a REMIC to a disqualified organization after March 31, 1988 (unless the transfer was made under a binding contract in effect on that date).
- Do not use this form when you are filing for the excise tax due under section 860E(e)(6) on pass-through entities if the interest is held by disqualified organizations; though technically, Part II covers this, the general purpose statement lists it separately.
- Check Form 7004 instead when you need to request an extension of time to file Form 8831.
Form selector
Use this form or another form?
Transfer is made by a pass-through entity
The tax is due under section 860E(e)(6) because the interest is held by disqualified organizations.
✓ Check Section 774(e) for details on electing large partnerships.
You are relieved of liability via affidavit
An affidavit signed under penalties of perjury furnishing SSN or stating non-disqualified status relieves you from tax liability.
✓ Ensure the affidavit aligns with the transfer date and organization status.
Tax is due but needs extension
Use this form to request an extension, but remember it does not extend the time for payment of tax.
✓ Verify that the requested extension period matches your need.
Deadline or filing window
For transfers under section 860E(e)(1), the deadline is April 15 following the calendar year of transfer. A pass-through entity must file by the 15th day of the 4th month after its tax year ends. An extension can be requested using Form 7004, but this form does not extend the time for payment.
Checklist
What you need before filling it out
Part I Liability
Transfer of residual interest to a disqualified organization · Section 860E(e)(1)
Filing Deadline (Section 860E(e)(1))
Date of residual interest transfer · April 15 of the year following the calendar year of transfer
Late Filing Penalty
Net amount of tax due · Generally, 5% per month (up to 25%)
Relief from Liability
Affidavit from transferee · Must furnish SSN or state non-disqualified status
Pass-through Entity Deadline
Tax year end date of disqualified person · 15th day of the 4th month following the close of its tax year
Before you submit
- 1Ensure you file a separate Form 8831 for every transfer of a residual interest made to a disqualified organization.
- 2Verify that the date entered in Section A, Line 1 matches the actual date of the transfer.
- 3Confirm whether steps were taken within a reasonable time after discovery to ensure the transferred interest is no longer held by a disqualified organization (Section A, Line 2).
- 4If filing for a pass-through entity under section 860E(e)(6), verify that the liability applies.
- 5Check if you are eligible for relief via an affidavit; if so, ensure it is signed under penalties of perjury.
- 6Confirm the payment due date matches your transfer/tax year timeline (April 15th or 4th month + 15 days).
- 7If paying by check/money order, verify that you write 'Form 8831' on the payment instrument.
How to file this form
- 1Complete Part I of Form 8831 with all required identifying information and transfer details for each residual interest.
- 2Determine if relief from tax liability is applicable; if so, ensure you have an affidavit signed under penalties of perjury to support the filing.
- 3Calculate the excise tax due (or amount due for waiver) based on the section 860E provisions referenced in Part I or II.
- 4Pay the required tax by the deadline (April 15th following transfer year, or 15th day of the 4th month after entity tax year end), and mail Form 8831 to NW, IR-6526 Washington, DC 20224.
- 5If filing electronically, submit Form 8831 through EFTPS (www.eftps.gov) or send a check/money order payable to “United States Treasury” along with the form.
Known limitations
- 1A separate Form 8831 must be filed for each transfer of a residual interest.
- 2If an electing large partnership has interests held by disqualified organizations, all those interests are treated as being held by disqualified organizations (see section 774(e) for details).
- 3For Part I liability under section 860E(e)(1), the tax liability is relieved if an affidavit from the transferee (signed under penalties of perjury) furnishes the transferee’s social security number or states that the transferee is not a disqualified organization, provided the filer does not have actual knowledge at the time of transfer that the affidavit is false.
- 4For pass-through entities liable for tax in Part II under section 860E(e)(6), they must file Form 8831.
Field map
Compact field-by-field guide
Entity Info
1 items
Name and taxpayer ID of the entity claiming the credit.
Credit Info
1 items
Type of credit or incentive being claimed.
Calculation
2 items
The base amount used to calculate the credit.
Calculated credit amount after applying formulas and limitations.
Certification
1 items
Detailed breakdown supporting the credit calculation.
Signatures
1 items
Sign and date the form.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Revision 4 from April 2018. The form directs users to www.irs.gov/Form8831 for the latest information regarding updates.
What changed or needs a fresh check
- Edition date — confirm the revision date reads April 2018.
- Mailing address — confirm the primary mailing location is NW, IR-6526 Washington, DC 20224.
- Tax rate (Late Filing) — confirm the general penalty is 5% a month or part of a month.
- Payment method — confirm you can send payment via EFTPS (www.eftps.gov) or check/money order payable to “United States Treasury.”
- Identification number — ensure your identifying number is provided on Line 14 if seeking refund.
Quick Facts
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After you file
- 1Books or records related to Form 8831 and its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law.
- 2The general time needed for recordkeeping is estimated at 4 hours, 32 minutes.
- 3If the due date falls on a Saturday, Sunday, or legal holiday, the filing deadline shifts to the next day that is not a Saturday, Sunday, or legal holiday.
- 4To request an extension of time to file Form 8831 (though this does not extend payment time), use Form 7004.
- 5If comments are made regarding accuracy or simplicity, they can be sent via www.irs.gov/FormComments.
Sources
- SRCInstructions p.2 — The official title is IRS Form 8831: Excise Taxes on Excess Inclusions of REMIC Residual Interests.
- SRCInstructions p.2 — A separate Form 8831 must be filed for each transfer of a residual interest (Part I).
- SRCInstructions p.4 — Use Form 8831 to report and pay the excise tax due under section 860E(e)(1) on any transfer of a residual interest in a REMIC to a disqualified organization.
- SRCInstructions p.4 — A pass-through entity must file Form 8831 if it is liable for the tax in Part II under section 860E(e)(6).
- SRCInstructions p.4 — For the excise tax due under section 860E(e)(1), filing is required if a residual interest was transferred to a disqualified organization after March 31, 1988.
- SRCInstructions p.5 — The late filing penalty generally imposes a rate of 5% a month or part of a month, up to a maximum of 25%.
- SRCInstructions p.4 — For the excise tax due under section 860E(e)(1), the deadline is April 15 of the year following the calendar year in which the residual interest is transferred.
- SRCInstructions p.5 — The address to send Form 8831 is Internal Revenue Service Tax Forms and Publications Division, 1111 Constitution Ave., NW, IR-6526 Washington, DC 20224.
Common confusion points
When must I file for the tax due under section 860E(e)(1)?
File Form 8831 and pay the tax by April 15 of the year following the calendar year in which the residual interest was transferred to a disqualified organization.
→ Confirm the transfer date is used to calculate this deadline.
What if my filing due date lands on a weekend or holiday?
The deadline shifts to the next day that is not a Saturday, Sunday, or legal holiday.
→ Check the calendar for the specific year of the transfer.
Does using Form 7004 extend my payment deadline too?
No; Form 7004 only extends the time to file Form 8831, but it does not extend the time for tax payment.
→ Verify that you are filing Form 7004 specifically for this purpose.
Where do I send Form 8831?
Send the form to: Internal Revenue Service Tax Forms and Publications Division, 1111 Constitution Ave., NW, IR-6526, Washington, DC 20224.
→ Ensure you are sending it to this address, not just an online portal.
What is the late filing penalty?
Generally, a penalty of 5% a month or part of a month, up to a maximum of 25%, is imposed on the net amount of tax due if the return is not filed when due.
→ Double-check that you are applying this percentage to the *net* amount of tax due.
How do I prove my liability for the excise tax under section 860E(e)(1)?
File a separate Form 8831 for each transfer, and be prepared to show documentation related to the transfer date (Section A, Line 1).
→ Ensure you have one entry per specific residual interest transfer.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Use Form 7004 (Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns) if more time is needed to file Form 8831.
Questions about IRS Form 8831
What is IRS Form 8831 used for?
This form lets taxpayers report specific excise taxes owed when an investment in a REMIC (a type of investment company) is given to a disqualified organization. It also handles payments for certain tax waivers and the excise tax due on pass-through entities with interests held by those organizations. Filers use this form to pay these required excise taxes to the IRS.
Who must file IRS Form 8831?
An individual or entity must file Form 8831 if they are liable for the excise tax in Part I under section 860E(e)(1) because they transferred a residual interest in a REMIC to a disqualified organization after March 31, 1988. A pass-through entity must file it if it is liable for the tax in Part II under section 860E(e)(6).
What information does IRS Form 8831 require?
The form collects details about transfers in Part I (for section 860E(e)(1)), records amounts due from lines 5, 7, or 10 in Part II, and tracks payments made with Form 7004 on line 12. Line 9 specifically requires the amount of excess inclusions allocable to interests for which the record holder is a disqualified organization.
When is IRS Form 8831 due?
For the excise tax under section 860E(e)(1), filing must occur by April 15 of the year following the calendar year in which the interest was transferred. A pass-through entity must file by the 15th day of the 4th month following its tax year close.
Where do I file IRS Form 8831?
Form 8831 is sent to NW, IR-6526 Washington, DC 20224; however, filers should check the 'Where To File' section on the form for confirmation. The form can also be submitted via e-file.
How do I complete IRS Form 8831?
First, complete Part I with details of the transfer and then fill out Part II, entering amounts like the excess inclusions on line 9. Next, enter the applicable amount from lines 5, 7, or 10 onto line 11, followed by any payment made using Form 7004 on line 12. The final step is calculating and entering the resulting Amount Due on line 13.
What happens if IRS Form 8831 is filed incorrectly?
If the excise tax return is not filed when due, generally a penalty of 5% a month or part of a month (up to 25%) is imposed on the net amount due. For late payment alone, the penalty is generally half of 1% of the unpaid tax per month or part thereof.
When must I file for the tax due under section 860E(e)(1)?
File Form 8831 and pay the tax by April 15 of the year following the calendar year in which the residual interest was transferred to a disqualified organization. Confirm the transfer date is used to calculate this deadline.
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