Period covered.

Fill in the space at the top of the form to show the calendar year for which this return is filed. The REIT is required to figure its undistributed income on a calendar year basis even though it may file its income tax return and keep its books and records on a fiscal year basis.

Address.

Include the suite, room, or other unit number after the street address. If the Post Office does not deliver mail to the street address and the REIT has a P.O. box, show the box number instead.

If the REIT receives its mail in care of a third party (such as an accountant or an attorney), enter on the street address line “C/O” followed by the third party’s name and street address or P.O. box.

Line 1a.

Refigure real estate investment trust taxable income, treating the calendar year as the REIT’s tax year. When refiguring this amount, exclude the deduction for dividends paid and any gain or loss from the sale or exchange of a capital asset. Include adjustments that result in the distribution of deficiency dividends (defined in section 860(f)) for the year in which the dividends are paid. Also, include the REIT’s share of partnership ordinary income (loss) and deductions when they are taken into account by the partnership. For details and exceptions, see Rev. Rul. 94-40, 1994-1 C.B. 274; and Rev. Proc. 94-71, 1994-2 C.B. 810.

Line 2a.

To determine capital gain net income, figure the excess, if any, of the gains over the losses from the sale or exchange of capital assets, determined by treating the calendar year as the REIT’s tax year. Reduce the result by the REIT’s net ordinary loss (as defined in section 4981(e)(2)(C)), if any, for the calendar year. Include adjustments that result in the distribution of deficiency dividends (defined in section 860(f)) and that affect capital gain net income for the year in which the dividends are paid. Also, include the REIT’s share of partnership items that affect capital gain net income when they are taken into account by the partnership. For details and exceptions, see Rev. Rul. 94-40 and Rev. Proc. 94-71.

Line 3a.

Add lines 1a and 2a using amounts for the previous calendar year, increased by the prior year’s shortfall, if any, as defined in section 4981(b)(2).

Line 5.

Enter the deduction for dividends paid (as defined in section 561) during the current calendar year figured without regard to the dividends paid, if any, attributable to net income from foreclosure property. Include deficiency dividends (defined in section 860(f)) paid during the calendar year. Also, include dividends declared in October, November, or December, but only if they were actually paid by the REIT during January of the following calendar year. See section 857(b)(9). Do not include on this line any other dividends paid after the close of the calendar year.

Line 6.

Line 6 is the total of the following amounts figured for the tax year of the REIT ending in or with the calendar year for which this excise tax return is filed.

Line 12. Tax due.

All payments made to the federal government are to be processed electronically. Go to IRS.gov/Payments for more information on using any of the payment options below.

Line 13a. Overpayment.

If the REIT has access to U.S. banking services, it should use direct deposit for any refunds, whenever possible. The benefits of a direct deposit include a faster refund, the added security of a paperless payment, and the savings of the tax dollars associated with the reduced processing costs.

If the REIT wants its refund directly deposited into its checking or savings account at any U.S. bank or other financial institution, complete lines 13b through 13d. See the instructions for lines 13b, 13c, and 13d, later.

The REIT is not eligible to request a direct deposit if:

Line 13b. Routing number.

The routing number must be nine digits. The first two digits must be between 01 and 12 or 21 through 32. Ask the REIT’s financial institution for the correct routing number to enter on line 13b if:

Line 13c. Type of account.

Check the appropriate box for the type of account. Don’t check more than one box. The REIT must check the correct box to ensure the deposit is accepted.

Line 13d. Account number.

The account number can be up to 17 characters (both numbers and letters). Include hyphens but omit spaces and special symbols. Enter the number from left to right and leave any unused boxes blank. Don’t include the check number.

If the direct deposit to the REIT’s account is different from the amount it expected, the REIT will receive an explanation in the mail about 2 weeks after the refund is deposited.

Conditions resulting in a refund by check.

If the IRS is unable to process the request for a direct deposit, a refund by check will be generated instead. Reasons for not processing a request include:

Note:

The IRS isn’t responsible for a lost refund if the REIT enters the wrong account information. Check with the REIT’s financial institution to get the correct routing and account numbers and to make sure the direct deposit will be accepted.