Instructions For Form 8023 (Rev. October 2002) (Page 3 of 3) in pdf

To make this election, complete

is described in Regulations section

you are complying with these laws

Form 8023 and attach a statement to

1.338-2(e)(1).

and to allow us to figure and collect

the form showing the name, address,

the right amount of tax.

Special Instructions for

identifying number, country in which

You are not required to provide the

Foreign Targets

organized and stock interest of each

information requested on a form that

U.S. shareholder. The statement

Unless otherwise specifically noted,

is subject to the Paperwork Reduction

must be signed by each U.S.

the general rules and requirements in

Act unless the form displays a valid

shareholder. When signing the

these instructions apply to foreign

OMB control number. Books or

statement, each U.S. shareholder

targets.

records relating to a form or its

must state under penalties of perjury

instructions must be retained as long

A section 338 election will not be

that the stock interest for that

as their contents may become

valid for a target that is a controlled

shareholder specified in the

material in the administration of any

foreign corporation, a passive foreign

statement is correct. Write “See

Internal Revenue law. Generally, tax

investment company, or a foreign

attached” in the signature area of

returns and return information are

personal holding company unless

Form 8023. As an alternative to a

confidential, as required by section

affected U.S. persons who own stock

jointly signed statement, the

6103.

in these targets are notified, in

shareholder signatures may be

writing, as set forth in Regulations

The time needed to complete and

shown on separate statements

section 1.338-2(e)(4).

file this tax form will vary depending

attached to Form 8023. If a U.S.

on individual circumstances. The

Form 8883. Each U.S. shareholder

shareholder is not an individual or

estimated average time is:

must also file Form 8883 with Form

does not have delegated authority to

5471.

sign the statement, the person

Attachments. Attach a schedule

Recordkeeping . . . . . .

9 hr., 19 min.

signing must state under penalties of

listing the date of each purchase of

perjury that he or she is authorized to

Learning about the law

1 hr., 35 min.

foreign target stock, each purchaser’s

or the form . . . . . . . . .

sign the statement for the U.S.

name, the percentage purchased by

shareholder. File Form 8023 for the

Preparing and sending

1 hr., 48 min.

each purchaser, and the name and

foreign purchasing corporation’s tax

the form to the IRS . . . .

place of incorporation of any selling

year that includes the acquisition

If you have comments concerning

entities. If affected U.S. persons

date.

the accuracy of these time estimates

owning stock in the target are

Form 8883. Each U.S. shareholder

or suggestions for making this form

notified, attach a schedule containing

must also file Form 8883 with Form

simpler, we would be happy to hear

the name and EIN or SSN of each

5471, Information Return of U.S.

from you. You can write to the Tax

U.S. person.

Persons With Respect to Certain

Forms Committee, Western Area

Foreign Corporations.

Distribution Center, Rancho Cordova,

Paperwork Reduction Act Notice.

When to file. Special rules may

CA 95743 –0001. Do not send this

We ask for the information on this

apply to foreign purchasing

form to this address. Instead, see

form to carry out the Internal

corporations. The time during which a

When and Where To File on page 1.

Revenue laws of the United States.

qualifying foreign purchasing

You are required to give us the

corporation may make a section 338

information. We need it to ensure that

election for a qualifying foreign target

-3-

Instructions For Form 8023 (Rev. October 2002) Page 3

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