ACRIS Tax Form Creation Changes Effective May 18, 2015
Advisory:
Effective May 18, 2015, the NYC-RPT form will be revised to include two additional GRANTOR and GRANTEE types:
- Single Member LLC
- Multiple Member LLC
For any grantor and grantee that is a partnership or a multiple member LLC, the revised form will request the name and SSN/EIN for each general partner or member:
- Provide the requested information for each general partner or member in a supporting document with a separate page for each partnership or LLC. Include the name of the partnership or LLC.
- If the social security number or employer identification number is not provided, attach an affidavit attesting to the reasons the information is missing.
For NYC-RPT forms created in ACRIS on or after May 18, 2015, eTax and Cover Page creation will change as follows:
- When selecting a party type on the ACRIS eTax RPTT Grantor and Grantee tabs, an additional choice of Multiple Member LLC will display.
- When Multiple Member LLC is selected as a party type on the eTax RPTT Grantor and Grantee tabs, the following text will display:
- Please include as a Supporting document to the NYC-RPT form a list that identifies the multiple member LLC name and EIN and provides all the member names and SSNs or EINs or an affidavit as to why SSNs/EINs are missing.
- When Partnership is selected as a party type on the eTax RPTT Grantor and Grantee tabs, the following text will display:
- Please include as a Supporting document to the NYC-RPT form a list that identifies the partnership name and EIN and provides all the general partners names and SSNs or EINs or an affidavit as to why SSNs/EINs are missing.
- When the RPTT is brought into the Cover Page, if Multiple Member LLC is selected as a party type, a new Supporting Document will be checked requiring you to enter a page count:
- NAME & TIN OF EACH MEMBER FOR ALL MULTI MEMBER LLCS / AFFIDAVIT FOR MISSING TINS
- When the RPTT is brought into the Cover Page, if Partnership is selected as a party type, a new Supporting Document – will be checked requiring you to enter a page count:
- NAME & TIN OF EACH GENERAL PTR FOR ALL PARTNERSHIPS / AFFIDAVIT FOR MISSING TINS
This bulletin is sent courtesy of CB Title Group, LLC and Stewart Title Guaranty Company. This article is for informational purposes only and is not intended to provide legal advice, but rather to provide insight into legal developments and issues that may be useful to our clients and friends. In no circumstance is this article intended to be a full treatment of the above subject matter. Reader is advised to obtain additional information as noted.
