Looking for a Form 1120-nd Templates? Download it for free!

Accounting Method

taxes, enter that person's name and address

Note. If a change in address occurs after

in the address section.

the return is filed, use Form 8822-B, Change

The fund must use the same method of

of Address or Responsible Party – Business,

accounting as the electing taxpayer.

If the fund receives its mail in care of a

to notify the IRS of the new address. See the

third party (such as an accountant or an

Rounding Off to Whole Dollars

instructions for Form 8822-B for details.

attorney), enter on the street address line

Part I. Computation of Fund

The fund may round off cents to whole

“C/O” followed by the third party's name and

dollars on its return and schedules. If the

street address or P.O. box.

Income Tax

fund does round to whole dollars, it must

If the corporation has a foreign address,

Income

round all amounts. To round, drop amounts

include the city or town, state or province,

under 50 cents and increase amounts from

country, and foreign postal code. Do not

Line 1. Taxable interest. Enter the total

50 to 99 cents to the next dollar. For

abbreviate the country name. Follow the

taxable interest income received or accrued

example, $1.39 becomes $1 and $2.50

country's practice for entering the name of

for the year, including any original issue

becomes $3.

the state or province and postal code.

discount. Do not include tax-exempt interest

If two or more amounts must be added to

on line 1; but report it as an item of

Item A. Employer Identification

figure the amount to enter on a line, include

information on Schedule M, line 2d.

cents when adding the amounts and round

Number (EIN)

off only the total.

Line 2. Capital gain net income. Every

Enter the fund's EIN. If the fund does not

sale, exchange, or actual or deemed

Recordkeeping

have an EIN, it must apply for one. An EIN

distribution of assets held by the fund must

can be applied for:

Keep the fund's records for as long as they

be reported in detail on Schedule D (Form

Online — Click on the EIN link

1120), Capital Gains and Losses (and Form

may be needed for the administration of any

The EIN is

provision of the Internal Revenue Code.

8949, Sales and Other Dispositions of

issued immediately once the application

Usually, records that support an item of

Capital Assets, if applicable), even if there is

information is validated.

no gain or loss. The amount realized on an

income, deduction, or credit on the return

By mailing or faxing Form SS-4,

must be kept for 3 years from the date the

actual or deemed distribution is the fair

Application for Employer Identification

market value of the assets as of the date of

return is due or filed, whichever is later. Keep

Number.

records that verify the fund's basis in

distribution.

property for as long as they are needed to

If the fund has not received its EIN by the

Line 3. Other income. Enter any other

figure the basis of the original or replacement

time the return is due, write “Applied for” and

taxable income not reported on line 1 or

property.

the date the fund applied in the space for the

line 2 and explain its nature on an attached

The fund should keep copies of all filed

EIN. For more details, see the Instructions

schedule. If the fund had only one item of

returns. They help in preparing future and

for Form SS-4.

other income, describe it in parentheses on

amended returns.

line 3.

Item B. Identifying Number of

Additional Information

Trustee or Disqualified Person

Deductions

See the instructions for Form 1120 and Pub.

If the return is filed by a trustee or

542, Corporations, for more information

Note. A deduction is not allowed for certain

disqualified person to report section 4951

about corporations, including additional

expenses allocable to tax-exempt income.

taxes, enter the identifying number of the

forms the fund may need to file and how to

See section 265. In addition, a deduction is

trustee or disqualified person. For an

get forms and publications.

not allowed for distributions made to electing

individual trustee or disqualified person,

taxpayers. Report such payments as an item

enter the individual's social security number.

of information on Schedule M, line 2c.

If the trustee or disqualified person is not an

Specific Instructions

Liabilities are not treated as incurred prior to

individual, enter the EIN.

the time economic performance takes place.

Period Covered

See section 461(h).

Note. Do not complete item B if Form

Enter the tax year in the space provided at

1120-ND is filed to report the income,

Line 5. Trustee fees. Enter the total

the top of the form. For a calendar year,

deductions, and income tax liability of the

deductible fees paid or incurred to the

enter the last two digits of the calendar year

fund.

trustee(s) for administering the fund during

in the first entry space. For a fiscal tax year

the tax year.

Item C. Fund, Trustee, or

return, fill in the tax year space at the top of

Disqualified Person

Line 6. Taxes. Enter deductible taxes paid

the form.

or incurred during the tax year, including

Name and Address

Check only the box that applies.

state and local income taxes. Do not deduct

1. When filed to report the income,

Enter the fund's true name (as set forth in the

federal income taxes or taxes not imposed

deductions, and income tax liability of the

on the fund.

charter or other legal document creating it),

fund, check the “Fund” box.

address, and EIN on the appropriate lines.

Line 8. Other deductions. Attach a

Enter the address of the fund's principal

2. When filed by a trustee who is liable

schedule listing by type and amount all

office or place of business. Include the suite,

for taxes under section 4951, check the

allowable deductions that are not deducted

room, or other unit number after the street

“Trustee” box.

elsewhere on Form 1120-ND. Include

address. If the post office does not deliver

3. When filed by a disqualified person

investment advisory fees, actuarial

mail to the street address and the fund has a

who is liable for section 4951 tax, check the

expenses, and other administrative

P.O. box, show the box number instead.

“Disqualified person” box.

expenses paid or incurred during the tax

year, but do not include decommissioning

Note. Do not use the address of the

Item D. Final Return, Name

costs.

registered agent for the state in which the

Change, Address Change, or

fund is incorporated. For example, if a fund is

Line 11. Net operating loss deduction.

Amended Return

incorporated in Delaware or Nevada and the

Enter the amount of any net operating loss

fund's principal office is located in Little

deduction allowed by Regulations section

Indicate a final return, name change,

Rock, AR, the fund should enter the Little

1.468A-4(b)(4), and explain its computation

address change, or amended return by

Rock address.

on an attached schedule.

checking the appropriate box. If you are a

If the return is filed by a trustee or

trustee or disqualified person reporting

disqualified person to report section 4951

section 4951 taxes, omit item D.

-3-

Instructions For Form 1120-Nd - Return For Nuclear Decommissioning Funds And Certain Related Persons - 2016 Page 3

Related Articles

Related forms

Related Categories