Treasury Regulations (26 C.F.R.)
26 CFR § 1.6033-5
Disclosure by tax-exempt entities that are parties to certain reportable transactions.
# (a) In general.
Every tax-exempt entity (as defined in section 4965(c)) shall file with the IRS on Form 8886-T, “Disclosure by Tax-Exempt Entity Regarding Prohibited Tax Shelter Transaction” (or a successor form), in accordance with this section and the instructions to the form, a disclosure of—
(1) Such entity's being a party (as defined in § 53.4965-4 of this chapter) to a prohibited tax shelter transaction (as defined in section 4965(e)); and
(2) The identity of any other party (whether taxable or tax-exempt) to such transaction that is known to the tax-exempt entity.
# (b) Frequency of disclosure.
A single disclosure is required for each prohibited tax shelter transaction.
# (c)
By whom disclosure is made—(1) Tax-exempt entities referred to in section 4965(c)(1), (2) or (3). In the case of tax-exempt entities referred to in section 4965(c)(1), (2) or (3), the disclosure required by this section must be made by the entity.
(2) Tax-exempt entities referred to in section 4965(c)(4), (5), (6) or (7). In the case of tax-exempt entities referred to in section 4965(c)(4), (5), (6) or (7), including a fully self-directed qualified plan, IRA, or other savings arrangement, the disclosure required by this section must be made by the entity manager (as defined in section 4965(d)(2)) of the entity.
# (d)
Time and place for filing—(1) In general. The disclosure required by this section shall be filed on or before May 15 of the calendar year following the close of the calendar year during which the tax-exempt entity entered into the prohibited tax shelter transaction.
(2) Subsequently listed transactions. In the case of subsequently listed transactions (as defined in section 4965(e)(2)), the disclosure required by this section shall be filed on or before May 15 of the calendar year following the close of the calendar year during which the transaction was identified by the Secretary as a listed transaction.
(3) Transition rule. If a tax-exempt entity entered into a prohibited tax shelter transaction after May 17, 2006, and before January 1, 2007, the disclosure required by this section shall be filed on or before November 2, 2007.
(4) No disclosure. Disclosure is not required with respect to any prohibited tax shelter transaction entered into by a tax-exempt entity on or before May 17, 2006.
# (e) Penalty for failure to provide disclosure statement.
See section 6652(c)(3) for the penalty applicable to the failure to disclose a prohibited tax shelter transaction in accordance with this section.
# (f) Effective date/applicability date.
This section applies with respect to transactions entered into by a tax-exempt entity after May 17, 2006.
[T.D. 9492, 75 FR 38702, July 6, 2010]
Source: view the official text
In this part (40 sections)
- 1.6015-5 · Time and manner for requesting relief.
- 1.6015-6 · Nonrequesting spouse's notice and opportunity to participate…
- 1.6015-7 · Tax Court review.
- 1.6015-8 · Applicable liabilities.
- 1.6015-9 · Effective date.
- 1.6016-1 · Declarations of estimated income tax by corporations.
- 1.6016-2 · Contents of declaration of estimated tax.
- 1.6016-3 · Amendment of declaration.
- 1.6016-4 · Short taxable year.
- 1.6017-1 · Self-employment tax returns.
- 1.6031(a)-1 · (a)-1 Return of partnership income.
- 1.6031(b)-1T · (b)-1T Statements to partners (temporary).
- 1.6031(b)-2T · (b)-2T REMIC reporting requirements (temporary).…
- 1.6031(c)-1T · (c)-1T Nominee reporting of partnership information…
- 1.6031(c)-2T · (c)-2T Nominee reporting of REMIC information…
- 1.6032-1 · Returns of banks with respect to common trust funds.
- 1.6033-1 · Returns by exempt organizations; taxable years beginning…
- 1.6033-2 · Returns by exempt organizations and returns by certain…
- 1.6033-3 · Additional provisions relating to private foundations.
- 1.6033-4 · Required filing in electronic form for returns by…
- 1.6033-5 · Disclosure by tax-exempt entities that are parties to…
- 1.6033-6 · Notification requirement for entities not required to file…
- 1.6034-1 · Information returns required of trusts described in section…
- 1.6035-0 · Table of contents.
- 1.6035-1 · Basis information to persons acquiring property from…
- 1.6035-2 · Transitional relief.
- 1.6036-1 · Notice of qualification as executor or receiver.
- 1.6037-1 · Return of electing small business corporation.
- 1.6037-2 · Required use of electronic form for income tax returns of…
- 1.6038-1 · Information returns required of domestic corporations with…
- 1.6038-2 · Information returns required of United States persons with…
- 1.6038-3 · Information returns required of certain United States…
- 1.6038-4 · Information returns required of certain United States…
- 1.6038-5 · Information returns required of certain United States…
- 1.6038A-0 · Table of contents.
- 1.6038A-1 · General requirements and definitions.
- 1.6038A-2 · Requirement of return.
- 1.6038A-3 · Record maintenance.
- 1.6038A-4 · Monetary penalty.
- 1.6038A-5 · Authorization of agent.