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Form 8870: Information Return for Transfers Associated With Certain Personal Benefit Contracts
IRS Form 8870 is Information Return for Transfers Associated With Certain Personal Benefit Contracts, which a charitable organization or charitable remainder trust must file if it paid premiums after February 8, 1999. The filing deadline for a charitable remainder trust is April 15 following the calendar year.
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IRS Form 8870 - Information Return for Transfers Associated With Certain Personal Benefit Contracts
IRS Form 8870 is Information Return for Transfers Associated With Certain Personal Benefit Contracts, which a charitable organization or charitable remainder trust must file if it paid premiums after February 8, 1999. The filing deadline for a charitable remainder trust is April 15 following the calendar year.
Risk Radar
Scan points- 1Ensure you include the total premium amount on line 8 of Part I of Form 4720 when filing Form 8870.
- 2Filing without identifying all personal benefit contracts in Part A and listing them consecutively in Part C.
- 3Entering an SSN or EIN for a beneficiary that does not match the information reported in Part C, Column (b).
- 4Not reporting the total premiums paid by the organization on line (g) of Part B's Continuation Schedule.
- 5Failing to carry the total amount from line (h) of the Continuation Schedule to line 8 of Part I of Form 4720.
Plain English
This form tells the IRS about money transfers connected to special contracts (personal benefit contracts), often involving life insurance or annuities. It allows organizations and trusts to report these transactions so the IRS knows how to correctly calculate tax deductions for them. The organization reports who received the benefits, who made the transfer, and how much was paid.
Submission Date
- Filing date: 2021-10-26 22:13:33
- 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 charitable organization or a charitable remainder trust paid premiums after February 8, 1999, on certain life insurance, annuity, and endowment contracts (personal benefit contracts).
- Do not use it when the organization did not pay premiums after February 8, 1999, on personal benefit contracts.
- Check Form 4720 instead when you need to report the total amount of transfers associated with certain personal benefit contracts.
Form selector
Use this form or another form?
Charitable Organization (not a CRT)
Filing deadline is the fifteenth day of the fifth month after the tax year ends.
✓ Confirm the specific due date based on your fiscal year.
Charitable Remainder Trust (CRT)
Filing deadline is April 15 following the calendar year in which premiums were paid.
✓ Verify if the regular due date falls on a weekend or holiday.
Reporting total transfers from Part B to Part I, line 8
The total amount from line (g) of Part B must be included on line 8 of Part I of Form 4720.
✓ Ensure the addition of lines (g) and (h) is correct.
Deadline or filing window
For a charitable remainder trust, the trigger event is paying premiums during the tax year. The deadline is April 15 following that calendar year. If this date lands on a Saturday, Sunday, or legal holiday, the return must be filed by the next business day.
Checklist
What you need before filling it out
Who Must File
Charitable organization described in section 170(c) or a charitable remainder trust described in section 664(d) · Form p.4
Filing Deadline (Charitable Org.)
Fifteenth day of the fifth month after the end of the tax year · Form p.4
Filing Deadline (CRT)
April 15 following the calendar year · Form p.4
Total Transfer Amount
Line (g) of Part B plus line (h) of Part B · Form p.1 & p.2
Address Format (Foreign)
City, province or state, and the name of the country · Form p.5
Contract Requirement
The organization must possess all incidents of ownership and be entitled to all payments under the contract · Form p.4
Before you submit
- 1The accounting period has been clearly entered on the heading of Form 8870.
- 2The organization's name, address, and ZIP code are correctly listed on the heading of Form 8870.
- 3If mailing to Ogden, UT 84201-0027, ensure you have used a designated Private Delivery Service (PDS) if applicable.
- 4The total amount from line (g) of Part B has been carried over and entered on line (h) of Part B/Part I.
- 5All transfers are listed on the Continuation Schedule, with Item No. 1 designating the first contract reported.
- 6Line (g) on only one Continuation Schedule reflects the combined total of all schedules.
- 7If filing as a CRT, confirm the due date is April 15th or the next business day.
How to file this form
- 1Complete the heading of Form 8870 by entering the accounting period and organization details (name, address, EIN).
- 2List all transfers on the Continuation Schedule, ensuring Item No. 1 is designated for the first contract reported.
- 3Calculate the total transfer amount by summing line (g) and line (h) of Part B, then enter this total onto line (h) of Part B/Part I.
- 4Send the completed Form 8870 to the Department of the Treasury, Internal Revenue Service in Ogden, UT 84201-0027 (or use a designated PDS), receiving confirmation of delivery.
Known limitations
- 1A charitable organization must possess all incidents of ownership and be entitled to all payments under the annuity contract for an exception to apply.
- 2Under section 170(f)(10)(E), a person receiving annuity or unitrust payments from a charitable remainder trust is not treated as an indirect beneficiary if the trust possesses all incidents of ownership and is entitled to all payments under the contract.
- 3The filing requirement applies only if the organization paid premiums after February 8, 1999, on certain life insurance, annuity, and endowment contracts (personal benefit contracts).
- 4Section 170(f)(10)(A) denies a charitable contribution deduction for a transfer to a “charitable organization” if that organization pays any premium on a personal benefit contract with respect to the transferor.
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 October 2021 (Rev. 10-2021). The form directs users to www.irs.gov/Form8870 for the latest information regarding developments.
What changed or needs a fresh check
- Edition date — confirm the revision reads October 2021.
- Filer type — confirm if you are a charitable organization or a charitable remainder trust described in section 664(d).
- Mailing address — confirm the return is sent to Ogden, UT 84201-0027 (or use designated PDS).
- Filing deadline — confirm the due date aligns with your entity type and tax year.
- Continuation Schedule — confirm line (g) on only one schedule holds the combined total of all schedules.
Quick Facts
Downloads
After you file
- 1Keep a copy of Form 8870, which must be complete and signed by an authorized officer.
- 2If filing an amended return, it must provide all information called for by the form and instructions, not just the new or corrected data.
- 3For a corporation or association, a receiver, trustee, or assignee must sign any return filed on behalf of that entity.
- 4For a trust, the authorized trustee(s) must sign the Form 8870.
- 5If filing late, attach a statement giving the reasons for not filing by the due date (including any extension granted).
Sources
- SRCForm 8870 (Rev. October 2021) is the Information Return for Transfers Associated With Certain Personal Benefit Contracts (Instructions p.1).
- SRCThe filing requirement applies if a charitable organization or charitable remainder trust paid premiums after February 8, 1999 (Instructions p.4).
- SRCA regular charitable organization must file Form 8870 by the fifteenth day of the fifth month after the end of the tax year (Instructions p.4).
- SRCA charitable remainder trust must file Form 8870 by April 15 following the calendar year during which it paid the premiums (Instructions p.4).
- SRCThe return must be sent to Ogden, UT 84201-0027 (Instructions p.4).
- SRCAn amended return must have “Amended Return” written at the top and provide all required information (Instructions p.5).
- SRCFor a corporation or association, a receiver, trustee, or assignee must sign any return filed for it (Instructions p.5).
- SRCThe accounting period used on Form 8870 should match that reported on your Form 990, 990-EZ, or 990-PF (Instructions p.5).
Common confusion points
Who needs to file this form?
A charitable organization described in section 170(c) or a charitable remainder trust described in section 664(d).
→ Check if it paid premiums after February 8, 1999.
When is the deadline for a regular charity?
The fifteenth day of the fifth month after the end of the tax year.
→ Verify this date against your organization's specific tax year-end.
What is the filing deadline for a charitable remainder trust?
April 15 following the calendar year during which it paid the premiums.
→ Remember to file on the next business day if April 15 falls on a Saturday, Sunday, or legal holiday.
How do you file an amended Form 8870?
Write “Amended Return” at the top of the form and provide all information required by the form and instructions.
→ Do not only enter the new or corrected data; complete everything else as well.
Who must sign this return?
An authorized officer of the organization, such as a president or treasurer, unless it is a trust (where the trustee signs) or an association (where a receiver/trustee/assignee signs).
→ Confirm the specific role listed on your organizational documents.
Where do you send the form?
To the Department of the Treasury, Internal Revenue Service, Ogden, UT 84201-0027.
→ Do not send comments or questions to this address; use www.irs.gov/FormComments.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- An amended Form 8870 is filed to correct errors or add new information.
Questions about IRS Form 8870
What is IRS Form 8870 used for?
This form tells the IRS about money transfers connected to special contracts (personal benefit contracts), often involving life insurance or annuities. It allows organizations and trusts to report these transactions so the IRS knows how to correctly calculate tax deductions for them. The organization reports who received the benefits, who made the transfer, and how much was paid.
Who must file IRS Form 8870?
A charitable organization described in section 170(c) or a charitable remainder trust described in section 664(d) must complete and file Form 8870 if it paid premiums after February 8, 1999, on certain life insurance, annuity, and endowment contracts.
What information does IRS Form 8870 require?
The form collects details about the contract beneficiaries (Part C), the transferors involved (Part D), and reports total premiums paid by the organization during the tax year. Line 8 of Part I is where the total from line (h) of the Continuation Schedule must be included on Form 4720.
When is IRS Form 8870 due?
A charitable remainder trust described in section 664(d) must file Form 8870 by April 15 following the calendar year during which it paid the premiums. If this date falls on a Saturday, Sunday, or legal holiday, filing is due on the next business day.
Where do I file IRS Form 8870?
The return should be sent to the Department of the Treasury, Internal Revenue Service, located at Ogden, UT 84201-0027. Certain designated private delivery services can also be used for timely mailing and filing.
How do I complete IRS Form 8870?
First, complete Part A and use a Continuation Schedule to list contracts and report premiums paid. Then, fill out Part C with all beneficiaries, listing their SSN or EIN. Finally, detail the transfers in Part D for each contract, sign the declaration under penalties of perjury, and ensure any required preparer information is filled out.
What happens if IRS Form 8870 is filed incorrectly?
Returns required by section 170(f)(10)(F)(iii) are subject to the penalties applicable to returns required under section 6033 if they are not filed on time.
Who needs to file this form?
A charitable organization described in section 170(c) or a charitable remainder trust described in section 664(d). Check if it paid premiums after February 8, 1999.
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