IRS Form 1120-ND "Return for Nuclear Decommissioning Funds and Certain Related Persons"

What Is IRS Form 1120-ND?

IRS Form 1120-ND, Return for Nuclear Decommissioning Funds and Certain Related Persons is a form filed with the Internal Revenue Service (IRS) by nuclear decommissioning funds in order to report their income earned, contributions received, the administrative expenses of fund operation, tax on modified gross income, and Section 4951 initial taxes.

Form 1120-ND was issued by the IRS and last revised in October 2013. Individuals may use the latest fillable Form 1120-ND available for download below.

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IRS Form 1120-ND Instructions

Detailed information is provided in the IRS-distributed instructions for Form 1120-ND. The form must be dated and signed by an authorized trustee. The return of any person who engaged in any self-dealing act must be signed either by that person or the person authorized to sign on their behalf. Generally, anyone who gets paid to prepare the return is required to sign it and fill in the "Paid Preparer Use Only" section.

In general, this income tax return must be filed by the 15th day of the 4th month after the end of the fund's tax year. If the fund's fiscal year ends in June, then the due date is the 15th day of the 3rd month after the end of the tax year. If the due date falls on a weekend, or a legal holiday, the fund's income tax return is due on the next business day.

If a fund does not meet the 1120-ND filing deadline, including extensions, a penalty of 5% of the unpaid tax for each month or day the return is late, and up to a maximum of 25%, shall apply. The minimum penalty for a return late for 60 (or over 60) days is the tax due or $210, whichever is smaller. If the fund can demonstrate that failure to file on time was due to reasonable cause, the penalty will not be imposed.

For the funds whose principal office is located in the United States, the applicable IRS address where to file the return is the following:

Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201-0012

The funds located in a foreign country must file this form at the following address:

Internal Revenue Service Center, P.O. Box 409101, Ogden, UT 84409

IRS 1120-ND Related Forms

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Download IRS Form 1120-ND "Return for Nuclear Decommissioning Funds and Certain Related Persons"

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1120-ND
Return for Nuclear Decommissioning Funds and
Form
Certain Related Persons
OMB No. 1545-0954
(Rev. October 2013)
Department of the Treasury
Information about Form 1120-ND and its separate instructions is at www.irs.gov/form1120nd.
Internal Revenue Service
For calendar year 20
, or fiscal year beginning
, 20
, and ending
, 20
Name of fund
A
Employer identification number of fund
(see instructions)
Name of trustee or disqualified person (complete if filing to report section 4951 taxes)
Address of filer. Number, street, and room or suite no. If a P.O. box, see instructions.
B
Identifying number of trustee or
disqualified person (see instructions)
City or town, state or province, country, ZIP or foreign postal code
C Return filed for (see Specific Instructions, check applicable box):
Fund
Trustee
Disqualified person
(1)
(2)
(3)
(4)
D Check applicable boxes:
Final return
Name change
Address change
Amended return
E The books are in care of
Phone no.
Located at
Part I—Computation of Fund Income Tax
1
1
Taxable interest
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Capital gain net income (attach Schedule D (Form 1120)) .
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2
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Other income (attach schedule)
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Gross income. Add lines 1 through 3
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Trustees fees
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5
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Taxes .
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Accounting and legal services .
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Other deductions (attach schedule) .
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9
Total deductions. Add lines 5 through 8
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9
10
Modified gross income before net operating loss deduction. Subtract line 9 from line 4 .
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Net operating loss deduction (see instructions)
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11
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Modified gross income. Subtract line 11 from line 10 .
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12
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Total tax. Multiply line 12 by 20%
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13
14
Payments:
a Overpayment from prior year
allowed as a credit
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14a
b Current year estimated tax
payments
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14b
c Refund applied for on Form
4466 .
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14c (
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d Subtract line 14c from the total of lines 14a and 14b
14d
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e Tax deposited with Form 7004
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14e
f
Total payments. Add lines 14d and 14e .
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14f
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Estimated tax penalty. Check if Form 2220 is attached
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16
Tax due. If line 14f is smaller than the total of lines 13 and 15, enter amount owed
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17
Overpayment. If line 14f is larger than the total of lines 13 and 15, enter amount overpaid
17
18
Enter amount of line 17 you want: Credited to next year’s estimated tax
Refunded
18
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
Sign
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return with
Here
the
preparer
shown
below
(see
instructions)?
Yes
No
Title
Signature of officer
Date
Print/Type preparer’s name
PTIN
Preparer’s signature
Date
Paid
Check
if
self-employed
Preparer
Firm’s name
Firm's EIN
Use Only
Firm’s address
Phone no.
1120-ND
For Paperwork Reduction and Privacy Act Notice, see separate instructions.
Form
(Rev. 10-2013)
Cat. No. 11507K
1120-ND
Return for Nuclear Decommissioning Funds and
Form
Certain Related Persons
OMB No. 1545-0954
(Rev. October 2013)
Department of the Treasury
Information about Form 1120-ND and its separate instructions is at www.irs.gov/form1120nd.
Internal Revenue Service
For calendar year 20
, or fiscal year beginning
, 20
, and ending
, 20
Name of fund
A
Employer identification number of fund
(see instructions)
Name of trustee or disqualified person (complete if filing to report section 4951 taxes)
Address of filer. Number, street, and room or suite no. If a P.O. box, see instructions.
B
Identifying number of trustee or
disqualified person (see instructions)
City or town, state or province, country, ZIP or foreign postal code
C Return filed for (see Specific Instructions, check applicable box):
Fund
Trustee
Disqualified person
(1)
(2)
(3)
(4)
D Check applicable boxes:
Final return
Name change
Address change
Amended return
E The books are in care of
Phone no.
Located at
Part I—Computation of Fund Income Tax
1
1
Taxable interest
.
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2
Capital gain net income (attach Schedule D (Form 1120)) .
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2
3
Other income (attach schedule)
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3
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Gross income. Add lines 1 through 3
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4
5
Trustees fees
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5
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Taxes .
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6
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Accounting and legal services .
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7
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Other deductions (attach schedule) .
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9
Total deductions. Add lines 5 through 8
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9
10
Modified gross income before net operating loss deduction. Subtract line 9 from line 4 .
10
11
Net operating loss deduction (see instructions)
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11
12
Modified gross income. Subtract line 11 from line 10 .
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12
13
Total tax. Multiply line 12 by 20%
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.
13
14
Payments:
a Overpayment from prior year
allowed as a credit
.
.
.
14a
b Current year estimated tax
payments
.
.
.
.
.
.
14b
c Refund applied for on Form
4466 .
.
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.
.
.
.
14c (
)
d Subtract line 14c from the total of lines 14a and 14b
14d
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e Tax deposited with Form 7004
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14e
f
Total payments. Add lines 14d and 14e .
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14f
15
15
Estimated tax penalty. Check if Form 2220 is attached
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16
Tax due. If line 14f is smaller than the total of lines 13 and 15, enter amount owed
.
.
16
17
Overpayment. If line 14f is larger than the total of lines 13 and 15, enter amount overpaid
17
18
Enter amount of line 17 you want: Credited to next year’s estimated tax
Refunded
18
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
Sign
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return with
Here
the
preparer
shown
below
(see
instructions)?
Yes
No
Title
Signature of officer
Date
Print/Type preparer’s name
PTIN
Preparer’s signature
Date
Paid
Check
if
self-employed
Preparer
Firm’s name
Firm's EIN
Use Only
Firm’s address
Phone no.
1120-ND
For Paperwork Reduction and Privacy Act Notice, see separate instructions.
Form
(Rev. 10-2013)
Cat. No. 11507K
2
Form 1120-ND (Rev. 10-2013)
Page
Schedule L
Balance Sheets
(a) Beginning of year
(b) End of year
Assets
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Cash
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Certificates of deposit .
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U.S. government obligations
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State and local government obligations .
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Other assets (attach schedule) .
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5
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Total assets. Add lines 1 through 5
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Liabilities and Fund Balance
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Liabilities .
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Fund balance
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Total liabilities and fund balance. Add lines 7 and 8 .
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Yes No
Schedule M
Other Information
1a Enter name of the electing taxpayer
b Enter the employer identification number of the electing taxpayer
2 a Enter the amount of contributions the fund received during the year under section 468A(a) .
$
b Enter the ruling amount for the tax year under section 468A(d)(2)
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$
c
$
Enter the amount of distributions includible in income by the electing taxpayer under section 468A(c)(1)
d Enter the amount of tax-exempt interest received or accrued for the year .
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$
3
During the year were any contributions received other than cash payments deductible by the electing taxpayer under section 468A?
4
During the year were fund assets used for any purpose other than paying the fund’s administrative or incidental
expenses (including taxes), for making investments, or for direct or indirect payment of decommissioning costs of
a nuclear power plant owned or leased by the electing taxpayer? If “Yes,” attach an explanation .
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5
Self-dealing (see instructions):
a Has the fund engaged in any of the following acts during the year, either directly or indirectly, with one or more
disqualified persons?
(i) Sale, exchange, or leasing of property
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(ii) Borrowing or lending of money or other extension of credit .
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(iii) Furnishing of goods, services, or facilities
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(iv) Payment of compensation (or payment or reimbursement of expenses)
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(v) Transfer to, or use by or for the benefit of, a disqualified person of any part of the fund’s income or assets .
b If any of lines 5a(i) through 5a(v) are answered “Yes,” were all of the acts self-dealing exceptions? (see inst.) .
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c If the answer to line 5b is “No,” attach a schedule listing the act; the date of the act; and the name, address, and
identifying number of each trustee and/or disqualified person who engaged in the act.
d Has any self-dealer or trustee taken any action to “correct” any act of self-dealing? See instructions for the
definition of “correct.” .
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If “Yes,” attach complete details of the corrective action. Also explain any uncorrected acts.
Part II—Initial Taxes on Self-Dealing (Section 4951)
Section A.—Acts of Self-Dealing and Tax Computation
(a) Act number
(b) Date of act
(c) Description of act
1
2
(d) Names of disqualified persons liable for tax
(e) Names of trustees liable for tax
/
1
(h) Tax on trustee (if applicable) (2
% of column (f))
(f) Amount involved in act
(g) Initial tax on self-dealing disqualified person (10% of column (f))
2
Total .
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Section B.—Summary of Initial Taxes
1
1
Enter section 4951 tax on disqualified person (Section A, column (g)) .
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2
Enter section 4951 tax on trustee (Section A, column (h)) .
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2
3
Total section 4951 taxes (add lines 1 and 2)
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3
4
4
Tax paid with Form 7004 .
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5
Tax due. Enter the excess, if any, of line 3 over line 4. (Do not enter this amount in Part I.) Pay in
full with return. (Make check or money order payable to “United States Treasury.”)
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5
6
Overpayment. Enter the excess, if any, of line 4 over line 3
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6
1120-ND
Form
(Rev. 10-2013)
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