2017 Filing Season
Below is a list of the new federal due dates generally applicable for 2016 tax returns (2017 filing season) and beyond.
March 15 (Extensions Until Sept. 15)
Form 1065, U.S. Return of Partnership Income; and
Form 1120S, U.S. Income Tax Return for an S Corporation.
Note: This is the due date for the tax return and also for the Schedules K-1 that the entity must provide to its owners.
April 15 (Extensions Until Oct. 15, Unless Noted Below)
Form 1040, U.S. Individual Income Tax Return;
Form 1041, U.S. Income Tax Return for Estates and Trusts (extensions until Sept. 30);
Form 1120, U.S. Corporation Income Tax Return (extensions until Sept. 15 until 2026, see note below); and
FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) (any late filing penalty for a first-time filer may be waived).
Note: Calendar-year C corporations can get extensions until Sept. 15 until tax years beginning after 2025, when the extended due date will be Oct. 15. June 30 fiscal-year-end C corporations (returns due Sept. 15) can get extensions to April 15 until tax years beginning after 2025; after 2025, June 30 fiscal-year-end C corporations will have an Oct. 15 due date and can get extensions until April 15.
May 15 (Extensions Until Nov. 15)
Form 990, Return of Organization Exempt From Income Tax (series).
July 31 (Extensions Until Oct. 15)
Form 5500 for employee benefit plans.
Note: The Form 5500 extension due date of Oct. 15 remains unchanged. The Surface Transportation Reauthorization and Reform Act of 2015,3 signed into law on Dec. 4, 2015, repealed the employee benefit plan Form 5500 extension provision in the July 2015 highway bill, which had provided a 3½-month filing extension until Nov. 15. As requested by the U.S. Department of Labor, the result of the Form 5500 extension provision in the December 2015 Act is that the Form 5500 extension is back to 2½ months, due on Oct. 15. Note that there was a negligible revenue effect from the Form 5500 due date extension as no tax payments are made with filing this return.4
Other Forms That May Be Affected
Although the legislation does not go into detail about due dates for various other forms, it should be noted that forms that are tied to the due dates of the above forms will need to be revised accordingly. For example, Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, will likely be changed to coincide with the corresponding return’s new due date. Some other forms that are likely to be changed to go along with the corresponding return’s new due date are:
Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation;
Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business (Under Sections 6038A and 6038C of the Internal Revenue Code);
Form 8804, Annual Return for Partnership Withholding Tax (Section 1446);
Form 8805, Foreign Partner’s Information Statement of Section 1446 Withholding Tax;
Form 8858, Information Return of U.S. Persons With Respect to Foreign Disregarded Entities;
Form 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships; and
Form 8886, Reportable Transaction Disclosure Statement.
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