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Form 8886T: Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction
IRS Form 8886-T is Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction, which discloses information about a prohibited tax shelter transaction. A single disclosure is required for each prohibited tax shelter transaction.
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IRS Form 8886T - Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction
IRS Form 8886-T is Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction, which discloses information about a prohibited tax shelter transaction. A single disclosure is required for each prohibited tax shelter transaction.
Risk Radar
Scan points- 1Do not use vague statements like 'See Attached' in the space provided; complete the information fully.
- 2Filing without completing all required information in its entirety.
- 3Using a vague statement like 'See Attached' instead of providing details.
- 4Failing to include the entity name and identifying number on additional sheets.
- 5Not having the correct official sign (director/trustee vs. entity manager).
Plain English
This form tells the IRS that your tax-exempt organization was involved in a specific type of investment or financial arrangement called a prohibited tax shelter transaction. By filing Form 8886-T, the entity discloses details about this transaction to meet federal tax requirements. Filing is required if the entity participates in such a transaction.
Submission Date
- Filing date: 2020-01-28 22:13:18
- 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 tax-exempt entity is required to disclose information with respect to each prohibited tax shelter transaction to which it is a party.
- Do not use Form 8886-T if the tax-exempt entity participates in a reportable transaction but is not required to file because of its status (though it may still be required to file Form 8886).
- Check Form 8886 instead when the entity participates in any reportable transaction and needs to file the Reportable Transaction Disclosure Statement.
Form selector
Use this form or another form?
Entity is a plan entity
The entity manager must file this form for it, rather than the entity itself.
✓ Check if you are an entity manager.
Transaction has contractual protection
This confirms the right to a full or partial refund of fees if tax consequences are not sustained.
✓ Verify the transaction meets these criteria.
Entity is fully self-directed qualified plan/IRA without EIN
Leave the Employer Identification Number box blank and do not enter an SSN.
✓ Confirm this entity type before filling out line items.
Deadline or filing window
The due date depends on how the entity is involved in the transaction. If the entity facilitates the transaction, Form 8886-T must be filed on or before May 15 of the calendar year following the close of the year. If the transaction was subsequently listed, it must be filed by May 15 of the calendar year following the close of that year.
Checklist
What you need before filling it out
General Purpose
Disclosure of information regarding a prohibited tax shelter transaction · Instructions p.1 / Form p.1
Filer Requirement (Non-plan entity)
The entity itself must file the form · Instructions p.1
Filer Requirement (Plan entity)
The entity manager must file the form · Instructions p.1 / p.2
Fee Inclusion Criteria
Fees paid for tax strategy, advice, implementation, documentation, and preparation exceeding customary fees · Instructions p.2
Due Date (Subsequent Listing)
May 15 of the calendar year following the close of the calendar year when the transaction was listed · Instructions p.2 / Section 1.6033-5(d)(2)
EIN/SSN Handling (No EIN)
Leave the EIN box blank and do not enter a social security number · Instructions p.2 / Form p.1
Before you submit
- 1The required disclosure corresponds to each prohibited tax shelter transaction the entity is a party to.
- 2If filing for a non-plan entity, the entity itself signs and files the form.
- 3If filing for a plan entity, the designated entity manager signs and files the form.
- 4The correct due date has been used (e.g., May 15 for subsequently listed transactions).
- 5All fees included in the minimum fee calculation exceed customary return preparation fees.
- 6For fully self-directed plans without an EIN, the EIN box is blank and no SSN is entered.
- 7The signer's printed name and title/authority are accurately recorded on Form 8886-T.
How to file this form
- 1Complete all required fields of Form 8886-T, including the tax year information and entity details.
- 2Determine if the entity or entity manager must file based on whether it is a plan or non-plan entity.
- 3Sign the form with the appropriate authorized official (director, trustee, officer), ensuring the date and title match.
- 4Mail the completed Form 8886-T to the IRS Tax Forms and Publications Division at 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224.
Known limitations
- 1A separate Form 8886-T must be filed for each prohibited tax shelter transaction.
- 2If a tax-exempt entity participates in any reportable transaction (defined in Regulations section 1.6011-4), it may also need to file Form 8886, Reportable Transaction Disclosure Statement.
- 3The form is not required if the entity does not participate in a prohibited tax shelter transaction (though this must be determined by checking 'Party to a prohibited tax shelter transaction').
- 4For transactions where fees are contingent on the realization of tax benefits, exceptions and other details are detailed in Regulations section 1.6011-4(b)(4) and Rev. Proc. 2007-20.
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 December 2019, and users can find the latest information regarding Form 8886-T at IRS.gov/Form8886-T.
What changed or needs a fresh check
- Edition date — confirm the revision date reads December 2019.
- OMB Control number — confirm it is 1545-0047.
- Mailing address — ensure the return is sent to IRS Tax Forms and Publications Division, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224 (unless filing electronically).
- Signature — confirm the signer's title or authority matches their role.
- Tax Year — verify that the calendar year/tax year beginning and ending dates are correct.
Quick Facts
Downloads
After you file
- 1The entity or entity manager must keep a copy of all documents and records related to the prohibited tax shelter transaction.
- 2If filing as a non-plan entity, the penalty is imposed on the tax-exempt entity itself for failure to timely file Form 8886-T.
- 3If filing as a plan entity, the penalty is imposed on the entity manager for failure to timely file Form 8886-T.
- 4The penalties assessed are adjusted for inflation (see section 6652(c)).
- 5A tax-exempt entity or its manager must provide a statement to any other tax-exempt entity party to the transaction confirming it is a prohibited tax shelter transaction.
Sources
- SRCInstructions p.1 — Form 8886-T must be filed for each prohibited tax shelter transaction.
- SRCInstructions p.1 — A separate Form 8886-T must be filed for each prohibited tax shelter transaction.
- SRCInstructions p.1 — If the entity is a non-plan entity, Form 8886-T must be filed by the entity.
- SRCInstructions p.2 — If the entity is a plan entity, Form 8886-T must be filed by the entity manager.
- SRCInstructions p.2 — For subsequently listed transactions, Form 8886-T must be filed by May 15 of the calendar year following the close of the calendar year during which the transaction was identified as a listed transaction.
- SRCInstructions p.2 — In case of a non-plan entity, the penalty is imposed on the tax-exempt entity.
- SRCInstructions p.2 — In case of a plan entity, the penalty is imposed on the entity manager.
- SRCInstructions p.2 — For a fully self-directed qualified plan or IRA that does not have an EIN, leave the EIN box blank (do not enter a social security number).
Common confusion points
Who files Form 8886-T if the organization is a plan entity?
The entity manager must file it.
→ Check 'Instructions p.1' for confirmation.
What happens if my entity is fully self-directed (like an IRA) and doesn't have an EIN?
Leave the EIN box blank and do not enter a social security number.
→ Verify this rule on 'Instructions p.2'.
When must I file if the transaction was listed later, but happened in 2023?
Form 8886-T must be filed by May 15 of the calendar year following the close of the year (i.e., May 15, 2024).
→ See 'Instructions p.2' for the subsequent listed transaction rule.
Who is responsible if I am a non-plan entity and miss the deadline?
The tax-exempt entity itself is penalized.
→ Check 'Instructions p.2' regarding penalties.
What defines an 'entity manager' if my organization is a plan entity?
It is the person who approves or otherwise causes the tax-exempt entity to be a party to the prohibited tax shelter transaction.
→ See 'Instructions p.1' and 'Instructions p.2'.
Should I file Form 8886-T even if it's just for a contingent fee?
Yes, because the source notes that this type of transaction is included in the disclosure requirement.
→ Check 'Instructions p.2' regarding contingent fees.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Not stated in the official source — verify on the agency site (This form itself requires filing if it is a prohibited tax shelter transaction).
Questions about IRS Form 8886T
What is IRS Form 8886T used for?
This form tells the IRS that your tax-exempt organization was involved in a specific type of investment or financial arrangement called a prohibited tax shelter transaction. By filing Form 8886-T, the entity discloses details about this transaction to meet federal tax requirements. Filing is required if the entity participates in such a transaction.
Who must file IRS Form 8886T?
If the tax-exempt entity is a non-plan entity, the entity files Form 8886-T. If it is a plan entity, the entity manager must file Form 8886-T.
What information does IRS Form 8886T require?
The form collects details about a prohibited tax shelter transaction to which the entity is a party. Completion requires providing information in its entirety and attaching any remaining data on additional sheets.
When is IRS Form 8886T due?
Generally, the due date depends on whether the entity facilitated the transaction or reduced its own federal tax liability. A single disclosure is required for each prohibited tax shelter transaction.
Where do I file IRS Form 8886T?
The return must be sent to the Department of the Treasury Internal Revenue Service Center in Ogden, UT 84201-0027. No specific e-file location is stated in these instructions.
How do I complete IRS Form 8886T?
To complete Form 8886-T, fill out all available space and attach additional sheets if necessary. Ensure that any attached sheets include the entity name and identifying number at the top. The signing requirement depends on the entity type: a non-plan entity requires the director, trustee, officer, or other authorized official to sign.
What happens if IRS Form 8886T is filed incorrectly?
Failure to disclose information required under section 6033(a)(2) results in a monetary penalty of $105 for each day the failure continues, not exceeding $54,000 for each required disclosure.
Who files Form 8886-T if the organization is a plan entity?
The entity manager must file it. Check 'Instructions p.1' for confirmation.
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