IRS Form 1120-RIC U.S. Income Tax Return for Regulated Investment Companies

IRS Form 1120-RIC Instructions

The 1120-RIC Form must be signed and dated by the RIC's president, vice president, chief accounting officer, treasurer, assistant treasurer, or any corporate officer authorized to sign.

In general, this income tax return must be filed by the 15th day of the 4th month after the end of the RIC's tax year. However, if the RIC is filing a short period, the due date is the 15th day of the 4th month after that period ends. A dissolved RIC must file an 1120-RIC tax return by the 15th day of the 4th month after the dissolution date. And if the RIC's fiscal year ends in June, then the due date is the 15th day of the 3rd month following the end of its tax year. If the due date falls on a weekend, or a legal holiday, the tax return is due on the next business day.

Should a RIC fail to file the return by the 1120-RIC due date, including extensions, it may be imposed a penalty of 5% of the unpaid tax for each month or days the return is late, and up to a maximum of 25%. For a return that is 60 or more days late, there is a penalty, which is the tax due or $210, whichever is smaller. If the RIC can demonstrate that failure to file Form 1120-RIC on time was due to reasonable cause, the penalty will not be imposed.

The applicable IRS Center where the return must be filed depends on where the RIC's principal office is located, their total assets by the end of the tax year, and the date of filing. The IRS additionally provides specific 1120-RIC filing instructions.

IRS 1120-RIC Related Forms:

• 1120, U.S. Corporation Income Tax Return. Domestic corporations use IRS Form 1120 for reporting their income, gains, losses, deductions, and credits, and to calculate income tax liability;
• 1120-C, U.S. Income Tax Return for Cooperative Associations. Corporations that operate on a cooperative basis use this form to file their tax return and to figure their income tax liability;
• 1120-F, U.S. Income Tax Return of a Foreign Corporation. This form is filed by foreign corporations for reporting their tax return, and to figure their U.S. income tax liability;
• 1120-H, U.S. Income Tax Return for Homeowners Associations. A homeowners association files this form with the IRS to file their tax return and to exclude the Exempt Function Income from its gross income;
• 1120-L, U.S. Life Insurance Company Income Tax Return. Life insurance companies use this form to file their tax return, and to figure their income tax liability;
• 1120-ND, Return for Nuclear Decommissioning Funds and Certain Related Persons. Nuclear decommissioning funds file this with the IRS form to report their earned income, the tax on modified gross income, and the section 4951 initial taxes;
• 1120-S, U.S. Income Tax Return for an S Corporation. This is a form is filed with the IRS to report the income, gains, losses, deductions, and credits of a domestic corporation or any other entity for any tax year covered by an election to be an S corporation. 1120-FSC, U.S. Income Tax Return of a Foreign Sales Corporation. Foreign Sales Corporation (FSC) or small FSC use this form to file their tax return, and income tax liability;
• 1120-IC-DISC, Interest Charge Domestic International Sales Corporation Return. Interest charge domestic international sales corporations (IC-DISCs), former DISCs, and former IC-DISCs are required to file this form;
• 1120-PC, U.S. Property and Casualty Insurance Company Income Tax Return. Insurance companies, apart from life insurance companies, use this form for filing their tax return, and to figure their income tax liability;
• 1120-POL, U.S. Income Tax Return for Certain Political Organizations. Political organizations and certain exempt organizations use this form to report their political organization taxable income and income tax liability under Section 527;
• 1120-REIT, U.S. Income Tax Return for Real Estate Investment Trusts. Corporations, trusts, and associations electing to be treated as Real Estate Investment Trusts must file this form to do their tax return, and income tax liability.