What are Regulations section 1.6081-5?

Modified on Tue, 20 Dec 2022 at 02:17 PM

Certain foreign and domestic corporations and certain partnerships are entitled to an automatic extension of time to file and pay under Regulations section 1.6081-5. These entities do not need to file Form 7004 to take this automatic extension and must file (or request an additional extension of time to file) and pay any balance due by the 15th day of the 6th month following the close of the tax year. Among them, there are:

  • Partnerships that keep their books and records outside the United States and Puerto Rico,
  • A foreign corporation that maintains an office or place of business in the United States,
  • A domestic corporation that transacts its business and keeps its books and records of account outside the United States and Puerto Rico, or
  • A domestic corporation whose principal income is from sources within the possessions of the United States. 

Attach a statement to the entity’s tax return stating that the entity qualifies for the extension to file and pay. If the entity is unable to file its return on or before the 15th day of the 6th month following the close of the tax year, check the box on line 4 of Form 7004 to request an additional extension of time to file (not an extension of time to pay). The additional extension period is 3 months for partnerships and S corporations and 4 months for C corporations and filers of Form 1120-POL.

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