Fillable Form 966 - Corporate Dissolution Or Liquidation (Page 2 of 2) in pdf

Form 966 (Rev. 12-2010)

Page

distributed assets are valued at fair market value.

Paperwork Reduction Act Notice

Exceptions to this rule apply to a liquidation of a

We ask for the information on this form to carry out the

subsidiary and to a distribution that is made according

Internal Revenue laws of the United States. You are

to a plan of reorganization.

required to give us the information. We need it to

ensure that you are complying with these laws and to

Foreign Corporations

allow us to figure and collect the right amount of tax.

A corporation that files a U.S. tax return must file Form

You are not required to provide the information

966 if required under section 6043(a). Foreign

requested on a form that is subject to the Paperwork

corporations that are not required to file Form 1120-F,

Reduction Act unless the form displays a valid OMB

U.S. Income Tax Return of a Foreign Corporation, or

control number. Books or records relating to a form or

any other U.S. tax return are generally not required to

its instructions must be retained as long as their

file Form 966.

contents may become material in the administration of

U.S. shareholders of foreign corporations may be

any Internal Revenue law. Generally, tax returns and

required to report information regarding a corporate

return information are confidential, as required by

dissolution or liquidation. See Form 5471, Information

section 6103.

Return of U.S. Persons With Respect To Certain

The time needed to complete and file this form will

Foreign Corporations, and its instructions for more

vary depending on individual circumstances. The

information.

estimated average time is:

Address

Recordkeeping

5 hr., 1 min.

Learning about the law or the form

30 min.

Include the suite, room, or other unit number after the

street address. If mail is not delivered to the street

Preparing and sending the form to the IRS

36 min.

address and the corporation has a P.O. box, enter the

If you have comments concerning the accuracy of

box number instead of the street address.

these time estimates or suggestions for making this

Line 5

form simpler, we would be happy to hear from you.

You can write to the Internal Revenue Service, Tax

If the immediately preceding tax return was filed

Products Coordinating Committee,

electronically, enter “efile” on line 5.

SE:W:CAR:MP:T:T:SP, 1111 Constitution Ave. NW,

IR-6526, Washington, DC 20224. Do not send the tax

Line 7e

form to this office. Instead, see Where To File on

If the consolidated return was filed electronically, enter

page 1.

“efile” on line 7e.

Line 10

Identify the code section under which the corporation

is to be dissolved or liquidated. For example, enter

“section 331” for a complete or partial liquidation of a

corporation or enter “section 332” for a complete

liquidation of a subsidiary corporation that meets the

requirements of section 332(b).

Signature

The return must be signed and dated by the president,

vice president, treasurer, assistant treasurer, chief

accounting officer, or any other corporate officer (such

as tax officer) authorized to sign. A receiver, trustee, or

assignee must sign and date any return required to be

filed on behalf of a corporation.

Form 966 - Corporate Dissolution Or Liquidation Page 2

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