Rev. December 2019
Form 965-E (12-2019) is a consent agreement under Section 965(i)(4)(D) of the Department of the Treasury's Internal Revenue Service. This form is related to an S Corporation and involves a section 965(h) election. The document includes sections for shareholder information, identifying information of the S Corporation, triggering event details, unpaid net tax liability reporting, shareholder payment ability, and terms of agreement. The parties involved agree to comply with all applicable regulations under section 965 and provide any requested additional information.
Part IV of Form 965-E requires the report of unpaid section 965(i) net tax liability for which consent is requested under section 965(i)(4)(D) for a section 965(h) election to be made. Enter the dollar amount of the outstanding section 965(i) net tax liability and the date of the first installment payment due.
Part III of Form 965-E requires a description of the section 965(i)(2)(A)(ii) triggering event for which the consent agreement is being filed, along with the date it occurred.
Part V of Form 965-E requires confirmation that the shareholder is able to make the payments required under section 965(h) and Regulations section 1.965-7(b) for the outstanding section 965(i) net tax liability, as well as information regarding the shareholder’s ability to pay.
Form 965-E is a consent agreement for shareholders of S corporations to make a section 965(h) election under the Internal Revenue Code. It is used when a triggering event has occurred under section 965(i)(2)(A)(ii), giving rise to the need for consent from the Commissioner.
Part I of Form 965-E requires the identifying information of the shareholder requesting consent to make the section 965(h) election, including their complete legal name, taxpayer identification number, and street address or post office box.
The Paperwork Reduction Act Notice for Form 965-E states that the form is used to carry out the Internal Revenue laws of the United States and that the information requested is required. The estimated burden for individual taxpayers filing this form is approved under OMB control number 1545-0123.
Part II of Form 965-E requires identifying information of the S corporation with respect to which a section 965(i) election was in effect and with respect to which the section 965(i)(2)(A)(ii) triggering event occurred. Enter the name and taxpayer identification number of the S corporation.
Form 965-E is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
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