Sec. 1.6031(a)-1 Return of partnership income.

(1) Return required.

Except as provided in paragraphs (a)(3) and (c) of this section, every domestic partnership must file a return of partnership income under section 6031 (partnership return) for each taxable year on the form prescribed for the partnership return. The partnership return must be filed for the taxable year of the partnership regardless of the taxable years of the partners. For taxable years of a partnership and of a partner, see section 706 and section 1.706-1. For the rules governing partnership statements to partners and nominees, see section 1.6031(b)-1T. For the rules requiring the disclosure of certain transactions, see §1.6011-4T.

(2) Content of return.

The partnership return must contain the information required by the prescribed form and the accompanying instructions.

(3) Special rule.

(4) Failure to file.

For the consequences of a failure to comply with the requirements of section 6031(a) and this paragraph (a), see sections 6229(a), 6231(f), 6698, and 7203.

(1) General rule.

(2) Foreign partnerships with de minimis U.S.-source income and de minimis U.S. partners.

A foreign partnership (other than a withholding foreign partnership, as defined in section 1.1441-5(c)(2)(i)) that has $20,000 or less of U.S.-source income and has no ECI during its taxable year is not required to file a partnership return if, at no time during the partnership taxable year, one percent or more of any item of partnership income, gain, loss, deduction, or credit is allocable in the aggregate to direct United States partners. The United States partners must directly report their shares of the allocable items of partnership income, gain, loss, deduction, and credit.

(3) Filing obligations for certain other foreign partnerships with no ECI

(4) Information or returns required of partners who are United States persons

(5) Certain partnership elections.

For a partnership that is not otherwise required to file a partnership return, if an election that can only be made by the partnership under section 703 (affecting the computation of taxable income derived from a partnership) is to be made by or for the partnership, a return on the form prescribed for the partnership return must be filed for the partnership. Unless otherwise provided in the form or the accompanying instructions, a return filed solely to make an election need only contain a written statement citing paragraph (b)(5)(ii) of this section, listing the name and address of the partnership making the election, and clearly identifying the specific election being made. A return filed under- paragraph (b)(5)(ii) of this section, solely to make an election is not a partnership return. Thus, such a return is not a return filed under section 6031(a) for purposes of sections 6501 (except regarding the specific election issue), 6231(a)(1)(A), and 6233. The return must be signed by--

(6) Exclusion for certain organizations.

The return requirement of section 6031 and this section does not apply to the International Telecommunications Satellite Organization, the International Maritime Satellite Organization, or any organization that is a successor of either.

(7) Filing obligation for certain partners of certain foreign partnerships with respect to base erosion payments. If a foreign partnership is not required to file a partnership return and the foreign partnership has made a payment or accrual that is treated as a base erosion payment of a partner as provided in §1.59A-7(c), a partner in the foreign partnership who is a person required to file a Form 8991 (or successor) must include the information necessary to report those base erosion payments and base erosion tax benefits on Form 8991 (or successor) in accordance with the related instructions. A partner with a Form 8991 (or successor) filing requirement who is a partner in a foreign partnership that is not required to file a partnership return must obtain the necessary information to report any base erosion payments on Form 8991 (or successor) from the foreign partnership or from any other reliable records of these payments. This paragraph does not apply to any partner described in §1.59A-7(d)(2).

(1) Wholly excluded

(2) Deemed excluded.

An eligible partnership that is deemed to have elected exclusion from the application of subchapter K beginning with its first taxable year, as specified in section 1.761-2(b)(2)(ii), is not required to file a partnership return.

(1) Partnership.

For the meaning of the term partnership, see section 1.761-1(a).

(2) United States person.

In applying this section, a United States person is a person described in section 7701(a)(30); the government of the United States, a State, or the District of Columbia (including an agency or instrumentality thereof); or a corporation created or organized in Guam, the Commonwealth of Northern Mariana Islands, the U.S. Virgin Islands, and American Samoa, if the requirements of section 881(b)(1)(A), (B), and (C) are met for such corporation. The term does not include an alien individual who is a resident of Puerto Rico, Guam, the Commonwealth of Northern Mariana Islands, the U.S. Virgin Islands, or American Samoa, as determined under section 301.7701(b)-1(d) of this chapter.

(3) United States partner.

In applying this-section, a United States partner is any United States person who holds a direct or indirect interest in the partnership.

(4) Indirect interest.

An indirect interest is any interest held through one or more passthrough partners, as defined in section 6231(a)(9).

(1) Place for filing.

The return of a partnership must be filed with the service center prescribed in the relevant IRS revenue procedure, publication, form, or instructions to the form (see section 601.601(d)(2)).

(2) Time for filing.

The return of a partnership must be filed on or before the date prescribed by section 6072(b).

(3) Magnetic media filing.

For magnetic media filing requirements with respect to partnerships, see section 6011(e)(2) and the regulations thereunder.

(1) Applicability date. This section applies to returns filed on or after January 30, 2020. Section 1.6031(a)-1T (as contained in 26 CFR part 1, revised April 2019) applies to returns filed before January 30, 2020.

(2) Applicability date. Paragraph (b)(7) of this section applies to taxable years ending on or after October 9, 2020.