Form 973 – Fill Out and Use This PDF

Form 973 (Rev. 10-92)

Page 2

▶

▶

▶

Signature of officer

Date

Title

Instructions

When and Where To File.—Attach Form 973 to the

(Section references are to the Internal Revenue Code unless

corporation’s income tax return for the tax year the consent

dividend deduction is claimed. Also attach a completed Form

otherwise noted.)

972, Consent of Shareholder To Include Specific Amount in

Paperwork Reduction Act Notice.—We ask for the information

Gross Income, for each shareholder who agreed to treat the

on this form to carry out the Internal Revenue laws of the United

consent dividend as a taxable dividend.

States. You are required to give us the information. We need it

Nonresident aliens and foreign shareholders.—If the

to ensure that you are complying with these laws and to allow

corporation receives a Form 972 from a nonresident alien or

us to figure and collect the right amount of tax.

other foreign shareholder, the corporation must pay any

The time needed to complete and file this form will vary

withholding tax it would have withheld if the dividend had been

depending on individual circumstances. The estimated average

actually paid (see Regulations section 1.565-5(a) and sections

times are:

1441 and 1442). File Form 1042, Annual Withholding Tax Return

Recordkeeping

4 hr., 4 min.

for U.S. Source Income of Foreign Persons, and Form 1042S,

Foreign Person’s U.S. Source Income Subject to Withholding, to

Learning about the law or the form

24 min.

report the tax withheld. See the instructions for these forms for

Preparing and sending the form to the IRS

29 min.

more detailed information on filing and transmitting the payment.

If you have comments concerning the accuracy of these time

Pay the withholding tax in one of the following forms:

estimates or suggestions for making this form more simple, we

1. Cash,

would be happy to hear from you. You can write to both the

2. U.S. Postal money order,

Internal Revenue Service and the Office of Management and

Budget at the addresses listed in the instructions of the tax

3. A certified check drawn on a domestic bank if state or

return with which this form is filed.

Federal law does not permit the certification to be rescinded

Purpose of Form.—Form 973 is filed by a corporation claiming

before presentation,

a consent dividend deduction under section 565.

4. A cashier’s check drawn on a domestic bank, or

Who Must File.—The consent dividend provisions apply to

5. A draft payable in U.S. dollars on a domestic bank or on a

(1) corporations that reasonably believe that they are subject to

foreign bank that maintains a United States agency or branch.

the accumulated earnings tax, (2) personal holding companies,

Signature.—Form 973 must be signed by the president, vice

(3) foreign personal holding companies, (4) regulated investment

president, treasurer, assistant treasurer, chief accounting officer,

companies, and (5)

real estate investment trusts.

or other corporate officer (such as tax officer) authorized to sign.