Who Must File

An entity must file Form 1066 if it elected to be treated as a REMIC for its first tax year (and the election is still in effect) and it meets the section 860D(a) requirements listed below.

A REMIC is any entity that:

• Elects to be treated as a REMIC for the tax year and all prior tax years;

• All of the interests are regular interests or residual interests;

• Has one (and only one) class of residual interests and all distributions, if any, with respect to such interests are pro rata;

• Substantially all of the assets consist of qualified mortgages and permitted investments as of the close of the third month beginning after the startup day (defined in the instructions for Item B—Date REMIC started , later) and at all times thereafter;

Instructions for Form 1066 (2025) Catalog Number 64231R Oct 15, 2025 Department of the Treasury Internal Revenue Service www.irs.gov

disqualified organizations (as defined in section 860E(e) (5)), and information needed to apply section 860E(e) will be made available by the entity.

Caution: The last item in the above list doesn’t apply to REMICs with a startup day before April 1, 1988 (or those formed under a binding contract in effect on March 31, 1988).

See section 860G for definitions and special rules. See section 860D(a) regarding qualification as a REMIC during a qualified liquidation.