What’s New

Electronic filing. Beginning in mid-February 2026, regulated investment companies (RICs) will be able to file Form 1120-RIC electronically. See Electronic Filing , later.

Increase in penalty for failure to file. For tax returns required to be filed in 2026, the minimum penalty for failure to file a return that is over 60 days late has increased to the smaller of the tax due or $525. See Late filing of return, later.

Electronic payments. If the RIC has access to U.S. banking services or electronic payment systems, it should use direct deposit for any refunds and pay electronically for any payments, whenever possible.

Direct deposit. Direct deposit fields have been added to the form on lines 33c, 33d, and 33e. If there is an overpayment on line 32, enter the amount the RIC wants refunded on line 33b and complete the direct deposit information on lines 33c, 33d, and 33e. Instead of a direct deposit of the RIC’s refund, it can still choose to have all or part of the overpayment credited to next year’s estimated tax by completing line 33a. See Line 32, later, for more information.

Making a payment. If there is a balance due on line 31, go to IRS.gov/Payments for information on how to make a payment. See Tax Payments and the instructions for Line 31, later, for more details.