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Form 8918: Material Advisor Disclosure Statement
IRS Form 8918 is Material Advisor Disclosure Statement that discloses information about a reportable transaction to the IRS. A penalty of $50,000 may be imposed for failure to file this form.
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IRS Form 8918 - Material Advisor Disclosure Statement
IRS Form 8918 is Material Advisor Disclosure Statement that discloses information about a reportable transaction to the IRS. A penalty of $50,000 may be imposed for failure to file this form.
Risk Radar
Scan points- 1Do not forget to provide the reportable transaction number to all taxpayers and material advisors.
- 2Failing to include the Material Advisor’s name and date on the cover sheet.
- 3Including sensitive data (like EIN or SSN) on the Form 8918 cover sheet.
- 4Not providing the reportable transaction number to all required parties.
- 5Omitting the Internal Revenue Code section(s) used for tax benefit claims (Form p.2).
Plain English
This form tells the Internal Revenue Service (IRS) about specific business deals or transactions you advised on. By filing Form 8918, a material advisor provides details so the IRS can track and review that transaction. This helps ensure all parties involved disclose their participation correctly to the government.
Submission Date
- Filing date: 2022-06-19 22:10:14
- 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 material advisors must disclose certain information about a reportable transaction to the IRS.
- Do not use it when filing for transactions that are not considered 'reportable' or if you do not qualify as a material advisor for the transaction.
- Check Form 8264 instead when registering a Tax Shelter, as Form 8918 replaces it.
Form selector
Use this form or another form?
Transaction is Confidential
The transaction was offered under conditions of confidentiality and an advisor received a minimum fee.
✓ Check the definition of 'Confidential Transaction' on Instructions p.2.
Transaction has Contractual Protection
The taxpayer or related party has a right to a full or partial refund of fees if tax consequences are not sustained, or fees are contingent on realizing benefits.
✓ Review Regulations section 1.6011-4(b)(4) and Rev. Proc. 2007-20.
Transaction results in a Loss
The transaction causes the taxpayer to claim a loss under section 165, specifically if it is $2 million (individuals) or $4 million (any combination of tax years).
✓ Verify the specific loss amount thresholds listed on Instructions p.3.
Deadline or filing window
Filing is required by the due date of the reportable transaction. If a material advisor fails to file Form 8918 on or before this date, a penalty may be imposed. For non-listed transactions, the default penalty is $50,000.
Checklist
What you need before filling it out
General Disclosure
Material advisors must disclose certain information about the reportable transaction. · Instructions p.1
Filing Deadline
Last day of the month following the end of the calendar quarter when material advisor status began or amended disclosure is required. · Instructions p.4
Confidential Transaction Status
Must be offered under conditions of confidentiality and an advisor must have been paid a minimum fee. · Instructions p.2
Loss Transaction Threshold (Individual)
At least $2 million in any single tax year. · Instructions p.3
Transaction of Interest Start Date
Transactions must be entered into after November 1, 2006. · Instructions p.3
Internal Revenue Code Section(s)
Enter the specific IRC section(s) used to claim tax benefit(s). · Form p.2 (Line 12)
Before you submit
- 1Confirm that only the current version of Form 8918 is used.
- 2Verify that the form is not handwritten.
- 3Ensure every instance of 'See Attached' has sufficient preceding text.
- 4Check that the filing date aligns with the end-of-quarter deadline rule.
- 5Confirm you have entered the specific Internal Revenue Code section(s) on Form 8918, Line 12.
- 6Verify that all required disclosures (Confidential, Contractual Protection, Loss Status) are correctly identified and detailed.
- 7Ensure a copy of the completed Form 8918 is kept for personal records.
How to file this form
- 1Complete Form 8918 by filling out all required fields, ensuring that any attached sheets detailing tax benefits are included.
- 2If applicable, ensure the 'See Attached' references clearly identify the supporting documentation or details.
- 3Determine the correct filing deadline: the last day of the month following the end of the calendar quarter in which you became a material advisor.
- 4Submit Form 8918 via electronic fax to 1-844-253-5607 (toll-free) and include the required cover sheet.
- 5Keep a copy of the completed and submitted Form 8918 for your records.
Known limitations
- 1The Form 8918 must be handwritten or typed; it cannot be handwritten.
- 2When describing a transaction, stating 'Information will be provided upon request' or 'Details are available upon request,' or any similar statement in the space provided is not considered a description and may cause the disclosure statement to be treated as incomplete.
- 3Only one reportable transaction should be reported on Form 8918 unless the transactions are the same or substantially similar.
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.
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Fillable formOpen in Editor->The current edition is Revision 11-2021. The IRS maintains a dedicated page at IRS.gov/Form8918 for information about Form 8918 and its instructions, which will be updated to reflect future developments.
What changed or needs a fresh check
- Edition date — confirm Revision 11-2021.
- Form must not be handwritten.
- All instances of 'See Attached' — ensure they are preceded by as much identifying information as the text box allows.
- Filing deadline — file with the Office of Tax Shelter Analysis (OTSA) by the last day of the month following the end of the calendar quarter in which the advisor became a material advisor.
Quick Facts
Downloads
After you file
- 1Material advisors must provide the reportable transaction number received from the IRS to all taxpayers and material advisors for whom the material advisor acts.
- 2A receipt will be provided confirming form submission when mailing Form 8918 to the Internal Revenue Service OTSA Mail Stop in Ogden, Utah.
- 3Receiving a reportable transaction number does not indicate that the IRS has reviewed, examined, or approved the transaction.
- 4If an amendment is filed, the material advisor must enter the previously provided reportable transaction number on Form 8918.
Sources
- SRCInstructions p.1 — The purpose of Form 8918 is for material advisors to disclose certain information about a reportable transaction by filing it with the IRS.
- SRCInstructions p.1 — Form 8918 replaces Form 8264, Application for Registration of a Tax Shelter.
- SRCInstructions p.4 — The disclosure statement must be filed with the Office of Tax Shelter Analysis (OTSA) by the last day of the month that follows the end of the calendar quarter in which the advisor became a material advisor or when circumstances require an amended disclosure statement.
- SRCInstructions p.5 — If filing an amendment, answer 'No' and enter the reportable transaction number previously provided for the reportable transaction on Form 8918.
- SRCInstructions p.4 — For electronic faxing Form 8918, it must be sent to 1-844-253-5607 (toll-free).
- SRCInstructions p.4 — If mailing Form 8918, the address is Internal Revenue Service OTSA Mail Stop 4915, 1973 Rulon White Blvd., Ogden, Utah 84201.
- SRCInstructions p.6 — Comments regarding Form 8918 can be sent to the Internal Revenue Service, Tax Forms and Publications Division, at 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224 (but do not send the form here).
- SRCInstructions p.1 — Form 8918 must not be handwritten.
Common confusion points
Who needs to file Form 8918?
Material advisors to any reportable transaction must disclose certain information by filing this form with the IRS.
When do I need to file Form 8918?
The disclosure statement must be filed by the last day of the month that follows the end of the calendar quarter in which the advisor became a material advisor or when circumstances require an amended disclosure statement.
What happens if I submit it electronically via fax?
For electronic fax, the cover sheet must include specific details: Subject (Form 8918), Sender's name/title/phone/street address, Material Advisor’s name, Date, and Number of pages faxed. It cannot exceed 100 pages.
What if I file an amendment?
If amending Form 8918, answer 'No' to the question about being an amended statement and enter the reportable transaction number previously provided by the IRS.
Where should I send this form?
For electronic fax, use 1-844-253-5607. If mailing, send it to Internal Revenue Service OTSA Mail Stop 4915, 1973 Rulon White Blvd., Ogden, Utah 84201.
What is the purpose of Form 8918?
Material advisors use this form to disclose certain information about a reportable transaction to the IRS. It replaces Form 8264, Application for Registration of a Tax Shelter.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- An amended statement of Form 8918 must be filed if information previously provided is inaccurate, additional information becomes available, or there are material changes to the transaction.
Questions about IRS Form 8918
What is IRS Form 8918 used for?
This form tells the Internal Revenue Service (IRS) about specific business deals or transactions you advised on. By filing Form 8918, a material advisor provides details so the IRS can track and review that transaction. This helps ensure all parties involved disclose their participation correctly to the government.
Who must file IRS Form 8918?
Generally, every material advisor to a reportable transaction is required to file Form 8918. A material advisor can be an individual, trust, estate, partnership, or corporation.
What information does IRS Form 8918 require?
The form collects details such as the Material Advisor’s name and date, along with information on the cover sheet (which should not include sensitive data like EIN or SSN). Additionally, Form 8918 requires entering the Internal Revenue Code section(s) used to claim tax benefit(s) generated by the transaction.
When is IRS Form 8918 due?
The form must be filed on or before the due date of the reportable transaction. If a material advisor fails to file it by the due date, a penalty may be imposed.
Where do I file IRS Form 8918?
If mailing the completed Form 8918 (and assuming no electronic fax access), send it to: Internal Revenue Service OTSA Mail Stop 4915, 1973 Rulon White Blvd., Ogden, Utah 84201. A receipt will confirm submission.
How do I complete IRS Form 8918?
First, complete all required sections and attachments. The cover sheet must include the sender's name, title, phone number, street address, Material Advisor’s name, and date. Finally, sign the return under penalties of perjury on Form p.3 before sending it to the IRS.
What happens if IRS Form 8918 is filed incorrectly?
Failure to file Form 8918 on or before the due date, or filing false or incomplete information about a reportable transaction, may result in a penalty of $50,000 for transactions other than listed ones.
Who needs to file Form 8918?
Material advisors to any reportable transaction must disclose certain information by filing this form with the IRS.
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