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holders or residual interest holders, and

the ‘‘Paid Preparer’s Use Only’’ section

is issued immediately once the

the REMIC has items of gross income

of the REMIC’s return. It does not apply

application information is validated.

•

from sources within the United States

to the firm, if any, shown in that section.

By telephone at 1-800-829-4933.

•

(see sections 861 through 865), see

By mailing or faxing Form SS-4,

If the “Yes” box is checked, the

Form 1042, Annual Withholding Tax

Application for Employer Identification

REMIC is authorizing the IRS to call the

Return for U.S. Source Income of

Number.

paid preparer to answer any questions

Foreign Persons.

If the REMIC has not received its EIN

that may arise during the processing of

by the time the return is due, write

its return. The REMIC is also

Who Must Sign

“Applied for” in the space for the EIN.

authorizing the paid preparer to:

For more details, see Pub. 583.

Startup day after November 9, 1988.

•

Give the IRS any information that is

For a REMIC with a startup day after

Item B — Date REMIC started. Enter

missing from the return;

November 9, 1988, Form 1066 may be

the “startup day” selected by the

•

Call the IRS for information about the

signed by any person who could sign

REMIC.

processing of the return or the status of

the return of the entity in the absence of

The startup day is the day on which

any related refund or payment(s); and

the REMIC election. Thus, the return of

•

the REMIC issued all of its regular and

Respond to certain IRS notices that

a REMIC that is a corporation or trust

residual interests. However, a sponsor

the REMIC has shared with the

would be signed by a corporate officer

may contribute property to a REMIC in

preparer about math errors, offsets, and

or a trustee, respectively. For REMICs

exchange for regular and residual

return preparation.

with only segregated pools of assets,

interests over any period of 10

the return would be signed by any

The REMIC is not authorizing the

consecutive days and the REMIC may

person who could sign the return of the

paid preparer to receive any refund

designate any one of those 10 days as

entity owning the assets of the REMIC

check, bind the REMIC to anything

the startup day. The day so designated

under applicable state law.

(including any additional tax liability), or

is then the startup day, and all interests

otherwise represent the REMIC before

Startup day before November 10,

are treated as issued on that day.

the IRS.

1988. A REMIC with a startup day

Item C — Total assets at end of tax

before November 10, 1988, may elect

The authorization cannot be

year. Enter the total assets of the

to apply the rules for REMICs with a

revoked. However, the authorization will

REMIC. If there are no assets at the

startup day after November 9, 1988 (as

automatically end no later than the due

end of the tax year, enter the total

described in Regulations section

date (excluding extensions) for filing the

assets as of the beginning of the tax

1.860F-4(c)(2)(iii)). Otherwise, Form

REMIC’s 2010 tax return. If the REMIC

year.

1066 must be signed by a residual

wants to expand the paid preparer’s

interest holder or, as provided in

Section I

authorization or revoke the

section 6903, by a fiduciary as defined

authorization before it ends, see Pub.

Line 1 — Taxable interest. Enter the

in section 7701(a)(6) who is acting for

947, Practice Before the IRS and

total taxable interest. “Taxable interest”

the REMIC and who has furnished

Power of Attorney.

is interest that is included in ordinary

adequate notice as described in

income from all sources except interest

Regulations section 301.6903-1(b).

exempt from tax and interest on

In the prior paragraph, the term

Specific Instructions

tax-free covenant bonds. You may elect

“startup day” means any day selected

to reduce the amount of interest

by a REMIC that is on or before the first

General Information

accrued on taxable bonds by the

day on which interests in such REMIC

amount of amortizable bond premium

are issued. Otherwise, “startup day” is

Name, address, and EIN. Print or

on those bonds attributable to the

defined in the instructions for Item

type the REMIC’s legal name and

current tax year. See sections 171(c)

B — Date REMIC started later.

address on the appropriate lines.

and 171(e) for details.

Include the suite, room, or other unit

Paid preparer’s information. If

Line 2 — Accrued market discount

number after the street address. If a

someone prepares the return and does

under section 860C(b)(1)(B). Enter

preaddressed label is used, include this

not charge the REMIC, that person

information on the label. If the Post

the amount of market discount

should not sign the return or complete

attributable to the current tax year

Office does not deliver mail to the street

the paid preparer’s space. Generally,

determined on the basis of a constant

address and the REMIC has a P.O.

anyone who is paid to prepare the

interest rate under the rules of section

box, show the box number instead. If

REMIC return must sign the return and

1276(b)(2).

the REMIC receives its mail in care of a

fill in the “Paid Preparer’s Use Only”

third party (such as an accountant or

area.

Line 3 — Capital gain or (loss). Enter

attorney), enter on the street address

the amount shown on page 2, Schedule

The paid preparer must complete the

line “C/O” followed by the third party’s

D, line 12 or 13 (if any).

required preparer information and:

name and street address or P.O. box. If

•

Sign the return in the space provided

Line 4 — Ordinary gain or (loss).

the REMIC has changed its address

for the preparer’s signature.

Enter the net gain or (loss) from Form

since it last filed a return (including a

•

Give the REMIC a copy of the return.

4797, Sales of Business Property, Part

change to an “in care of” address),

II.

Note. A paid preparer may sign

check the box for “Address change.”

original returns, amended returns, or

Line 5 — Other income. Attach a

Note. If a change in address occurs

requests for filing extensions by rubber

schedule, listing by type and amount,

after the return is filed, use Form 8822,

stamp, mechanical device, or computer

any other taxable income not reported

Change of Address, to notify the IRS of

software program.

on lines 1 through 4. If there is only one

the new address.

item of other income, describe it in

Paid Preparer Authorization

Enter the REMIC’s EIN on Form

parentheses to the left of the entry

If the REMIC wants to allow the IRS to

1066, page 1, item A. If the REMIC

space on line 5 instead of attaching a

discuss its 2009 tax return with the paid

does not have its own EIN, it must

schedule. If the REMIC issued regular

preparer who signed it, check the ‘‘Yes’’

apply for one. A REMIC may apply for

interests at a premium, the net amount

box in the signature area of the return.

an EIN:

of the premium is income that must be

•

This authorization applies only to the

Online by clicking on the EIN link at

prorated over the term of these

individual whose signature appears in

The EIN

interests. Include this income on line 5.

-4-

Instructions For Form 1066 - U.s. Real Estate Mortgage Investment Conduit (Remic) Income Tax Return - 2009 Page 4

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