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Form 976: Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust
IRS Form 976 is a Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust that files under Section 547 or 860 of the Internal Revenue Code. Taxpayers must file this form within 120 days after the determination date.
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IRS Form 976 - Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust
IRS Form 976 is a Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust that files under Section 547 or 860 of the Internal Revenue Code. Taxpayers must file this form within 120 days after the determination date.
Risk Radar
Scan points- 1Ensure the return is signed by a proper officer (President, Treasurer, etc.) as required.
- 2Filing without listing the correct entity type (PHC, RIC, or REIT) on Line 1.
- 3Not dating the claim correctly on Line 2 for the tax year deficiency end date.
- 4Omitting the required details (class/shares/amount) for any shareholder listed in Line 5.
- 5Failing to sign and date the return by an authorized officer or receiver/trustee.
Plain English
This form allows an entity—like a holding company, RIC, or REIT—to claim deductions for dividends that were not fully paid out. If the IRS allows this claim, the taxpayer can be relieved from paying certain taxes, potentially receiving a credit or refund. A RIC or REIT must also account for interest on the allowed deduction.
Submission Date
- Filing date: 2022-11-08 22:12:08
- 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 a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust is claiming a deficiency dividend deduction under section 547 or 860 of the Internal Revenue Code.
- Do not use it when you are not one of the three specified entity types (PHC, RIC, or REIT) claiming this specific deduction.
- Check Form 2198 instead when establishing the liability for a Personal Holding Company Tax under section 547(c)(3).
Form selector
Use this form or another form?
Determination made by a PHC
The filing address must be where the determination of PHC status was made.
✓ Check Form 976 Line 1
Not stated in the official source
Determination made by RIC/REIT under section 860(e)(4)
File with IRS P.O. Box 9941, Ogden, UT 84409; this is the same address for filing Form 8927.
✓ Check Form 976 Line 6
Claim results in overpayment of tax
The taxpayer must file an amended income tax return *in addition* to Form 976 to obtain a credit or refund.
✓ Check Form 976 Page 2, Claim for credit or refund section
Not stated in the official source
Deadline or filing window
The filing window requires submission within 120 days after the determination date. A PHC must file with the specific IRS office where its status was determined. If a RIC or REIT files under section 860(e)(4), they use the Ogden, UT address.
Checklist
What you need before filling it out
Entity Type
Personal Holding Company · Form 976 Line 3
Amount Paid (Line 3a)
Amount paid to cover deficiency · Form 976 Line 3a
Establishment Method (Line 5)
Tax Court Decision · Attach a copy of the decision
PHC Agreement (Line 5d)
Form 2198 · Attach a copy of the properly executed Form 2198
RIC/REIT Statement (Line 5f)
Form 8927 · Attach a copy of the Form 8927 filed with the IRS
Before you submit
- 1Select the correct Type of entity filing the claim on Line 3.
- 2Ensure the Amount of tax deficiency (Line 1) matches the total amount being claimed.
- 3Verify that the Date paid (Line 3b) is recorded if an amount was paid (Line 3a).
- 4If using a court judgment, confirm both the claim for refund date and the suit date are filled on Line 5b.
- 5If filing as a PHC, ensure you attach Form 2198 if applicable (Line 5d).
- 6Ensure the Deficiency dividend was distributed amount (Line 8) is fully detailed in Cash or Other property.
- 7Confirm that for RIC/REITs, Line 9b reflects the capital gain dividends designated/reported.
How to file this form
- 1Complete all necessary fields on Form 976, including entity details (Line 1-3) and deficiency distribution specifics (Line 8).
- 2Attach required supporting documentation based on how the deficiency was established (e.g., Court Decision or Form 2198/Form 8927).
- 3If filing as a RIC or REIT under section 860(e)(4), ensure Line 6 reflects the date Form 8927 was mailed to the IRS.
- 4Sign and certify the form by attaching the resolution of the board of directors authorizing the payment of the deficiency dividend.
- 5Mail the completed Form 976 within 120 days after the determination date to the appropriate IRS office.
Known limitations
- 1The form applies to a personal holding company (PHC), regulated investment company (RIC), or real estate investment trust (REIT) that is claiming a deficiency dividend deduction under section 547 or 860 of the Internal Revenue Code.
- 2For corporate acquisitions where assets are acquired in a distribution or transfer described in section 381(a), special rules for claiming a deficiency dividend deduction apply (see sections 381(c)(17) and 381(c)(23)).
- 3If the allowance of the deficiency dividend deduction results in an overpayment of tax, the taxpayer must file an amended income tax return in addition to Form 976 to obtain a credit or refund.
Field map
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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 current edition is Revision November 2022. The instructions direct users to www.irs.gov/Form976 for the latest information about developments related to Form 976.
What changed or needs a fresh check
- Edition date — confirm the revision date reads November 2022.
- Fee — Not stated in the official source (though time estimates are provided).
- Mailing address — ensure you use the correct location based on your entity type and determination method.
- Signature — attach a certified copy of the resolution authorizing the payment of the deficiency dividend.
- Tax Year — confirm the tax year ending date is correctly entered (MM/DD/YYYY).
- Filing Deadline — confirm the filing deadline is within 120 days after the determination date.
Quick Facts
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After you file
- 1A RIC or REIT will owe interest determined with respect to the amount of the deficiency dividend deduction allowed (see sections 860(a), 860(c), 6601, and 6621).
- 2The IRS will notify the RIC or REIT of the amount of interest.
- 3When filing for a PHC, it must be filed with the IRS office where the determination of PHC status was made.
- 4If a RIC or REIT files under section 860(e)(4), they should retain written evidence to establish the date Form 8927 was mailed and enter that date on line 6.
Sources
- SRCForm 976 is titled Claim for Deficiency Dividends Deductions by a Personal Holding Company, Regulated Investment Company, or Real Estate Investment Trust (Instructions p.1)
- SRCThe form governs claims under Section 547 or 860 of the Internal Revenue Code (Instructions p.1)
- SRCThe filing deadline is within 120 days after the determination date (Instructions p.2)
- SRCA PHC must file Form 976 with the IRS office where its determination was made (Instructions p.2)
- SRCA RIC or REIT generally files Form 976 with the IRS Center where its income tax return for that year was filed (Instructions p.2)
- SRCIf a RIC or REIT is determined under section 860(e)(4), it must file Form 976 with the IRS at P.O. Box 9941, Ogden, UT 84409 (Instructions p.2)
Common confusion points
Where do I file this form?
The filing location depends on the entity type: a PHC files where its status was determined; a RIC/REIT files with the IRS Center where its return was filed, unless specific exceptions apply.
→ Check line 2 to see if you are a PHC, RIC, or REIT.
What is Line 1?
It requires the amount of the tax liability established by the determination *before* accounting for the deficiency dividend deduction claimed and without regard to whether it was already a deficiency under section 6211(a)(1).
→ Ensure you attach a detailed statement showing how this amount was calculated.
What is the deadline?
Form 976 must be filed within 120 days after the determination date.
→ Confirm the determination date before starting to fill out line 2 and calculating your due date.
Do I need to file other forms too?
Yes, if the allowance results in an overpayment, you must file an amended income tax return along with Form 976 to get a refund or credit.
→ Keep records of both Form 976 and the amended return submission.
What is the difference between RIC/REIT filing locations?
A general RIC/REIT files where its return was filed, but if determined under section 860(e)(4), it must file with a specific address (P.O. Box 9941).
→ Verify your determination type against the filing instructions on page 2.
What if I have a P.O. box?
If the Post Office does not deliver mail to your street address, you should show the P.O. box number instead of the street address in the Address section.
→ Check the specific delivery rules for your location and use the box number if necessary.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 8927, Determination Under Section 860(e)(4) by a Qualified Investment Entity (This form establishes the determination date for RICs/REITs under section 860(e)(4)).
Questions about IRS Form 976
What is IRS Form 976 used for?
This form allows an entity—like a holding company, RIC, or REIT—to claim deductions for dividends that were not fully paid out. If the IRS allows this claim, the taxpayer can be relieved from paying certain taxes, potentially receiving a credit or refund. A RIC or REIT must also account for interest on the allowed deduction.
Who must file IRS Form 976?
A Personal holding company (PHC) must file Form 976 with the IRS office where its PHC status was determined. A Regulated investment company (RIC) or Real estate investment trust (REIT) must generally file it with the IRS Center where their income tax return for that year was filed.
What information does IRS Form 976 require?
The form collects information such as the amount of tax deficiency on Line 1 and the tax year ending date on Line 2. It also requires details on each shareholder, including stock class/shares (Line 5b) and the amount paid to them (Line 5c).
When is IRS Form 976 due?
Form 976 must be filed within 120 days after the determination date. For a PHC, this filing is with the IRS office where the determination of PHC status was made.
Where do I file IRS Form 976?
A RIC or REIT files it with the IRS Center where their income tax return for that year was filed, unless specific rules apply. If determined under section 860(e)(4), the address is P.O. Box 9941, Mail Stop 4912, Ogden, UT 84409.
How do I complete IRS Form 976?
First, fill out the entity identification information (Name, EIN, etc.). Next, detail the tax deficiency amounts and dates paid on Lines 1 through 4. Finally, list each shareholder with their stock class/shares and amount received in Line 5 before having an authorized officer sign.
What happens if IRS Form 976 is filed incorrectly?
By signing under penalties of perjury, the preparer declares that the claim on Form 976 is true, correct, and complete. Failure to correctly document these details can result in the IRS disallowing the deficiency dividend deduction.
Where do I file this form?
The filing location depends on the entity type: a PHC files where its status was determined; a RIC/REIT files with the IRS Center where its return was filed, unless specific exceptions apply. Check line 2 to see if you are a PHC, RIC, or REIT.
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