PART 55—EXCISE TAX ON REAL ESTATE INVESTMENT TRUSTS AND REGULATED INVESTMENT COMPANIES Authority: 26 U.S.C. 6001, 6011, 6071, 6091, and 7805. Section 55.6011-1 also issued under 26 U.S.C. 6011(a); Section 55.6060-1 also issued under 26 U.S.C. 6060(a); Section 55.6071-1 also issued under 26 U.S.C. 6071(a); Section 55.6081-1 also issued under 26 U.S.C. 6081(a); Section 55.6091-1 also issued under 26 U.S.C. 6091(a); Section 55.6109-1 also issued under 26 U.S.C. 6109(a); Section 55.6109-2 also issued under 26 U.S.C. 6109(a); Section 55.6151-1 also issued under 26 U.S.C. 6151; Section 55.6695-1 also issued under 26 U.S.C. 6695(b). Source: T.D. 7767, 46 FR 11282, Feb. 6, 1981; 46 FR 15263, Mar. 5, 1981, unless otherwise noted. Subpart A—Excise Tax on Real Estate Investment Trusts § 55.4981-1 [Reserved] § 55.4981-2 Imposition of excise tax with respect to certain undistributed income of real estate investment trusts; calendar years beginning after December 31, 1986. Section 4981, as amended by the Tax Reform Act of 1986, imposes an excise tax on a real estate investment trust in the amount of four percent of the excess, if any, of the required distribution for a calendar year over the distributed amount for such calendar year. Section 4981, as so amended, applies only to calendar years that begin after December 31, 1986. [T.D. 8180, 53 FR 6148, Mar. 1, 1988, as amended by T.D. 9849, 84 FR 9239, Mar. 14, 2019] Subpart B—Excise Tax on Regulated Investment Companies § 55.4982-1 Imposition of excise tax on undistributed income of regulated investment companies. Section 4982 imposes an excise tax on a regulated investment company in the amount of four percent of the excess, if any, of the required distribution for a calendar year over the distributed amount for such calendar year. Section 4982 applies only to calendar years beginning after December 31, 1986. [T.D. 8180, 53 FR 6148, Mar. 1, 1988] Subpart C—Procedure and Administration Source: T.D. 7767, 46 FR 11282, Feb. 6, 1981; 46 FR 15263, Mar. 5, 1981, unless otherwise noted. Redesignated by T.D. 8180, 53 FR 6148, Mar. 1, 1988. § 55.6001-1 Notice or regulations requiring records, statements, and special returns. (a) In general. (b) Notice by district director requiring returns, statements, or the keeping of records. (c) Retention of records. § 55.6011-1 General requirement of return, statement, or list. Every person liable for tax under Chapter 44 shall file an annual return with respect to the tax on the form prescribed by the Internal Revenue Service for such purpose and shall include therein the information required by the form and the instructions issued with respect thereto. For calendar years beginning after December 31, 1986, the return, which must be made on a calendar year basis, shall be filed by a real estate investment trust on Form 8612 and by a regulated investment company on Form 8613. [T.D. 8180, 53 FR 6148, Mar. 1, 1988] § 55.6060-1 Reporting requirements for tax return preparers. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78459, Dec. 22, 2008] § 55.6061-1 Signing of returns and other documents. Any return required to be made by a real estate investment trust or a regulated investment company with respect to the tax imposed by Chapter 44 shall be signed by a person authorized by section 6062 of the Code to sign the income tax return of the real estate investment trust or the regulated investment company. Any statement or other document required to be made with respect to the tax imposed by Chapter 44 shall be signed by the person required or duly authorized to sign in accordance with the regulations, forms, or instructions prescribed with respect to such statement or document. An individual's signature on a return, statement, or other document made by or for the real estate investment trust or the regulated investment company shall be prima facie evidence that the individual is authorized to sign the return, statement, or other document. [T.D. 8180, 53 FR 6148, Mar. 1, 1988] § 55.6065-1 Verification of returns. If a return, statement, or other document made under the provisions of Chapter 44 or Subtitle F or the Code or the regulations thereunder with respect to any tax imposed by Chapter 44 of the Code, or the form and instructions issued with respect to such return, statement, or other document, requires that it shall contain or be verified by a written declaration that it is made under the penalties of perjury, it must be so verified by the person or persons required to sign such return, statement, or other document. In addition, any other statement or document submitted under any provision of Chapter 44 or Subtitle F of the Code or regulations thereunder with respect to any tax imposed by Chapter 44 of the Code may be required to contain or be verified by a written declaration that it is made under the penalties of perjury. § 55.6071-1 Time for filing returns. (a) Returns for calendar years beginning after December 31, 1986. (b) Returns for excise tax under section 4981 as in effect before amendment by the Tax Reform Act of 1986. [T.D. 8180, 53 FR 6148, Mar. 1, 1988] § 55.6081-1 Automatic extension of time for filing a return due under Chapter 44. (a) In general. (b) Requirements. (1) Submit a complete application on Form 7004, “Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns,” or in any other manner prescribed by the Commissioner; (2) File the application on or before the date prescribed for filing the return with the Internal Revenue Service office designated in the application's instructions; and (3) Remit the amount of the properly estimated unpaid tax liability on or before the date prescribed for payment. (c) No extension of time for the payment of tax. (d) Termination of automatic extension. (e) Penalties. (f) Effective/applicable dates. [T.D. 9407, 73 FR 37369, July 1, 2008] § 55.6091-1 Place for filing Chapter 44 tax returns. Except as provided in § 55.6091-2 (relating to exceptional cases): (a) In general. (b) Returns filed with service centers or by hand carrying. [T.D. 7767, 46 FR 11282, Feb. 6, 1981; 46 FR 15263, Mar. 5, 1981. Redesignated and amended by T.D. 8180, 53 FR 6148, Mar. 1, 1988; T.D. 9156, 69 FR 55746, Sept. 16, 2004] § 55.6091-2 Exceptional cases. Notwithstanding the provisions of § 55.6091-1, the Commissioner may permit the filing of any Chapter 44 tax return in any local Internal Revenue Service office. [T.D. 7767, 46 FR 11282, Feb. 6, 1981; 46 FR 15263, Mar. 5, 1981. Redesignated by T.D. 8180, 53 FR 6148, Mar. 1, 1988, as amended by T.D. 9156, 69 FR 55746, Sept. 16, 2004] § 55.6107-1 Tax return preparer must furnish copy of return or claim for refund to taxpayer and must retain a copy or record. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78459, Dec. 22, 2008] § 55.6109-1 Tax return preparers furnishing identifying numbers for returns or claims for refund. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78459, Dec. 22, 2008] § 55.6151-1 Time and place for paying of tax shown on returns. The tax shown on any return which is imposed by Chapter 44 shall, without notice or assessment and demand, be paid to the internal revenue officer with whom the return is filed at the time and place for filing such return (determined without regard to any extension of time for filing the return). For provisions relating to the time and place for filing such return, see §§ 55.6071-1 and 55.6091-1. For provisions relating to the extension of time for paying the tax see § 55.6161-1. [T.D. 8180, 53 FR 6148, Mar. 1, 1988] § 55.6161-1 Extension of time for paying tax or deficiency. (a) In general Tax shown or required to be shown on return. (2) Deficiency. (3) Extension of time for filing distinguished. (b) Certain rules relating to extension of time for paying income tax to apply. § 55.6165-1 Bonds where time to pay tax or deficiency has been extended. If an extension of time for payment of tax or deficiency is granted under section 6161, the district director or the director of the service center may, if he deems it necessary, require a bond for the payment of the amount in respect of which the extension is granted in accordance with the terms of the extension. However, the bond shall not exceed double the amount with respect to which the extension is granted. For provisions relating to form of bonds, see the regulations under section 7101 contained in part 301 of this chapter (Regulations on Procedure and Administration). § 55.6694-1 Section 6694 penalties applicable to tax return preparer. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78459, Dec. 22, 2008] § 55.6694-2 Penalties for understatement due to an unreasonable position. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78459, Dec. 22, 2008] § 55.6694-3 Penalty for understatement due to willful, reckless, or intentional conduct. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78459, Dec. 22, 2008] § 55.6694-4 Extension of period of collection when tax return preparer pays 15 percent of a penalty for understatement of taxpayer's liability and certain other procedural matters. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78460, Dec. 22, 2008] § 55.6695-1 Other assessable penalties with respect to the preparation of tax returns or claims for refund for other persons. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78460, Dec. 22, 2008] § 55.6696-1 Claims for credit or refund by tax return preparers. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78460, Dec. 22, 2008] § 55.7701-1 Tax return preparer. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78460, Dec. 22, 2008]