42.9.501    PASS-THROUGH ENTITY INFORMATION RETURNS FOR SINGLE-MEMBER LLC TREATED AS DISREGARDED ENTITY

(1) Any single-member limited liability company (LLC) treated as a disregarded entity that has Montana source income, whether formed in Montana or in another state or country, must file a Montana Disregarded Entity Information Return, Form DER-1, as provided in this rule unless the sole member is an individual who has been a full-year Montana resident during the applicable reporting period.

(2) If the single member of the LLC is a C corporation, the LLC must file the return on or before the 15th day of the third month following the close of the C corporation's annual accounting period.

(3) If the single member of the LLC is an S corporation, the LLC must file the return on or before the 15th day of the third month following the close of the S corporation's annual accounting period.

(4) If the single member of the LLC is a qualified subchapter S subsidiary, the LLC must file the return on or before the due date of the parent S corporation's information return.

(5) If the single member of the LLC is a real estate investment trust (REIT), the LLC must file the return on or before the 15th day of the third month after the close of the REIT's annual accounting period.

(6) If the single member of the LLC is a qualified REIT subsidiary, the LLC must file the return on or before the due date of the parent REIT's information return.

(7) If the single member of the LLC is an individual, estate, or non-grantor trust, the LLC must file the return on or before the 15th day of the fourth month following the close of the annual accounting period of the individual, estate, or trust.

(8) If the single member of the LLC is a partnership, the LLC must file the return on or before the 15th day of the third month following the close of the partnership's annual accounting period.

(9) If the single member of the LLC is a real estate mortgage investment conduit (REMIC), the LLC must file the return on or before the 15th day of the fourth month after the close of the REMIC's annual accounting period.

(10) If the single member of the LLC is a partnership that elected under IRC 761 to be excluded from some or all of the partnership tax rules, the LLC must file the return on or before April 15.

(11) If the single member of the LLC is not described in (1) through (10), the LLC must file the return on or before August 31.

(12) An LLC required to file an information return, as provided for in (1) through (11), may obtain an automatic extension of time to file its information return if its owner has qualified for an extension of time to file a return. The extended due date is the same as the owner's federal extended due date. The LLC is allowed an automatic extension to file its information return for up to six months if the owner is not required to file a federal information return.

(13) An LLC required to file an information return, as provided for in (1) through (11), is subject to a late-filing penalty if:

(a) the Montana disregarded entity information return is not filed by the due date (including extensions); or

(b) a return is filed that does not include all of the following information:

(i) name, address, and social security or federal identification number of each member or other owner during the tax period;

(ii) the LLC's employer identification number, if any;

(iii) any assumed business name(s) the LLC has registered with the Montana Secretary of State, under which it conducts any trade, business, or occupation in the state, or under which it holds title to any real or tangible personal property in the state;

(iv) the state, country, and date of formation of the LLC and, if the LLC was formed in another state or country, the date the LLC registered with the Secretary of State; and

(v) the LLC's Montana source income, gain, loss, deduction, or credit.

 

History: 15-1-201, 15-30-2620, 15-30-3302, 15-31-501, MCA; IMP, 15-30-2602, 15-30-2603, 15-30-3302, 15-30-3311, 15-30-3312, 15-31-101, 15-31-111, MCA; NEW, 2002 MAR p. 3708, Eff. 12/27/02; AMD, 2013 MAR p. 428, Eff. 3/29/13; AMD, 2015 MAR p. 2152, Eff. 12/11/15; AMD, 2017 MAR p. 2094, Eff. 11/10/17.