IRS Form 1120-PC U.S. Property and Casualty Insurance Company Income Tax Return

IRS Form 1120-PC U.S. Property and Casualty Insurance Company Income Tax Return

What Is IRS Form 1120-PC?

IRS Form 1120-PC, U.S. Property and Casualty Insurance Company Income Tax Return , is a form filed with the tax authorities by non-life insurance companies in order to report their income, gains, losses, deductions, and credits, and to figure their income tax liability. IRS 1120-PC Form was issued by the Internal Revenue Service (IRS) and last revised in 2023 .

An 1120-PC Tax Form fillable version is available below. The following is a list of all schedules to the return:

  1. Schedule D (Form 1120), Capital Gains and Losses.
  2. Schedule M-3 (Form 1120-PC), Net Income (Loss) Reconciliation for U.S. Property and Casualty Insurance Companies with Total Assets of $10 Million or More.
  3. Schedule N (Form 1120), Foreign Operations of U.S. Corporations.
  4. Schedule O (Form 1120), Consent Plan and Apportionment Schedule for a Controlled Group.
  5. Schedule PH (Form 1120), U.S. Personal Holding Company (PHC) Tax.
  6. Schedule UTP (Form 1120), Uncertain Tax Position Statement.

Check out the IRS-provided instructions for Form 1120-PC available through this link.

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IRS Form 1120-PC Instructions

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

The 1120-PC filing deadline is on the 15th day of the 4th month after the end of the company's tax year. If the tax year ends on June 30, the company is required to file the form by the 15th day of the 4th month after the end of the company's tax year. If the due date falls on a weekend or legal holiday, the form may be filed on the next business day.

Should a company fail to file its income tax return by the 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%. There is a minimum penalty for a return that is 60 or more days late: the tax due or $210, whichever is smaller. If the company can demonstrate that failure to file Form 1120-PC on time was due to reasonable cause, the penalty will not be imposed.

For companies whose principal office is located in the United States, the IRS address to file the return to is the following: Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201-0012 . Companies located in a foreign country must file this return at the Internal Revenue Service Center, P.O. Box 409101, Ogden, UT 84409.


IRS 1120-PC Related Forms:

Other Revisions

Download IRS Form 1120-PC U.S. Property and Casualty Insurance Company Income Tax Return

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