Section 11 Form 5330 — Schedule I (4980 Tax)

Section 11 must be present if there is an entry in Field 0314. If Section 11 generates as a missing section, determine if the filer entered the tax amount on the wrong line on Page 2. If the filer entered the tax amount on the correct line, enter the amount from Page 2, Line 14 into Field 11L3.

The following fields are contained in Section 11:

Section 11 Fields

AFD

POS

FIELD NAME

FORM LINE #

11L1

8

Reversion Date

Schedule I, Line 1

11L2

13

Reversion Amount

Schedule I, Line 2a

112B

2

Tax Rate

Schedule I, Line 2b

11L3

13

Tax on 4980

Schedule I, Line 3

11L3V

13

Verified Amount

None

Section 11 is invalid when CCC "G" is present.

If this is a true amended return, delete Section 11.

Section 11 is invalid when Section 04, 05, 06, 07, 08, 09, 10, 12, or 13 is present. Taxes for these sections cannot be reported on the same Form 5330 as the Section 4980 Tax.

SSPND 351 and prepare Form 4227.

Rejects changes the numbered Form 5330 to reflect the tax for only Section 4980 Tax.

Rejects prepares a new Form 5330 for the remaining tax.

See IRM 3.12.22.8.1, Form 5330 Splitting Taxes, for complete instructions on splitting taxes.

Field 11L1 is located on Form 5330, Schedule I, Line 1.

May be present.

Date in Field 11L1 is not in valid MMDDYYYY format.

Date is before 12–31–1984.

Field 11L1 is not present, and Field 11L3 contains an entry greater than zero unless Field 01CCC contains "C" .

Correct coding and transcription errors.

If corresponding for other missing items on the return and Field 11L1 is blank or contains multiple entries and cannot be perfected from attachments, SSPND 211 and initiate correspondence. Otherwise, enter the beginning day of the month of the received date on the form in valid MMDDYYYY format in Field 11L1.