1066

U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return

Agency
IRS
Revision
2025
Fillable fields
123
Pages
4
Official source
IRS form page
Checked
October 21, 2026
Fill 1066 online
Page 1 of form 1066

Form 1066: U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return

Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return, is the 2025 return an entity files to report the income, deductions, and gains and losses from the operation of a REMIC. The instructions say the REMIC also uses it to report and pay the taxes on net income from prohibited transactions, net income from foreclosure property, and contributions after the startup day.

Apart from those three taxes, the instructions say the REMIC isn't subject to income tax, and the residual interest holders are liable for tax on their shares of the REMIC's taxable income, whether or not distributed. Each holder's quarterly share is reported on Schedule Q (Form 1066), which is a separate form.

The election to be treated as a REMIC is made by timely filing Form 1066 for the entity's first tax year. You can fill out Form 1066 free in your browser on this page and download the result without an account.

What's on Form 1066

Items A to D

The REMIC's name, address and EIN, the date the REMIC started, total assets at the end of the tax year, and boxes for a final return, name change or address change.

Section I: taxable income or net loss

Income lines 1 to 6 and deduction lines 7 to 14, both excluding prohibited transactions, with line 15 also entered on Schedule M.

Section II: tax and payments

Total tax from Schedule J, tax paid with Form 7004, tax due, and any overpayment with routing and account numbers for direct deposit.

Schedule J: tax computation

Tax on net income from prohibited transactions, tax on net income from foreclosure property at 21% (0.21) of line 9, tax on contributions after the startup day, and total tax.

Items E to L

Entity type, number of residual interest holders, the election out of the centralized partnership audit regime, foreign accounts and foreign trusts, tax-exempt interest, classes of regular interests and the sum of daily accruals.

Schedules L and M and page 4

Balance sheets per books, the reconciliation of residual interest holders' capital accounts, and the Designation of Partnership Representative on page 4.

How to fill out Form 1066

  1. 1

    Tax year and items A to D

    Fill in short tax year dates if they apply. Enter the startup day in item B. If the EIN has not arrived by the due date, the instructions say to write "Applied for." With no assets at year end, enter zero in item C.

  2. 2

    Section I

    Report income and deductions, excluding amounts from prohibited transactions. Line 15 subtracts line 14 from line 6 and is also entered on Schedule M, column (c).

  3. 3

    Schedule J

    Figure the three taxes. Part III is not completed if the startup day was before July 1, 1987. Line 12 adds lines 4, 10 and 11 and goes on page 1, Section II, line 1.

  4. 4

    Section II

    Enter tax paid with Form 7004 on line 2. If line 2 is more than line 1, enter the overpayment on line 4a and complete lines 4b, 4c and 4d for direct deposit.

  5. 5

    Items E to L and Schedules L and M

    Answer each item. The instructions say the balance sheet and capital account amounts should agree with the REMIC's books and records, with a statement explaining any differences.

  6. 6

    Representative and signature

    If the REMIC had more than one residual interest holder at any time and did not elect out under item G, complete the Designation of Partnership Representative on page 4. Then sign and date the return.

Why fill Form 1066 on indox

You get the real form, filled in a browser tab, with nothing standing between you and the finished PDF.

  • Fill the form right in your browser, no software to install
  • Free to fill and free to download, with no account
  • The official blank straight from the IRS, not a copy someone retyped
  • Works on a phone, tablet or computer

When and where to file, and Schedule Q

Due date

The instructions say REMICs generally file the 2025 Form 1066 by March 15, 2026. A final return is due by the 15th day of the 3rd month following the date the REMIC ceased to exist.

Extension

Form 7004 requests an automatic extension. The instructions say it is filed by the regular due date of Form 1066.

Where to mail

With its principal business, office or agency in the United States: Department of the Treasury, Internal Revenue Service, Ogden, UT 84201-0007. In a foreign country or U.S. territory: Internal Revenue Service, P.O. Box 409101, Ogden, UT 84409.

Schedule Q

For each calendar quarter, a Schedule Q is completed for each residual interest holder and filed with Form 1066. A copy goes to the holder by the last day of the month following the month in which the quarter ends.

Paying tax due

The instructions say tax due is paid in full by the 15th day of the 3rd month following the end of the tax year, and federal tax deposits are made by electronic funds transfer.

Late filing penalties

With no tax due, the instructions list a section 6698 penalty of $255 for each residual interest holder for each month or part of a month late, up to 12 months. With tax due, the section 6651 penalty is 5% of the unpaid tax per month, up to 25%.

Related forms

Who files Form 1066?

  • Entities that elected REMIC status

    The instructions list the section 860D(a) tests, including that all interests are regular or residual interests, there is one class of residual interests, and the REMIC has a calendar tax year.

  • New REMICs making the election

    The election is made by timely filing Form 1066 for the first tax year, signed by an authorized person. A separate statement on the terms of the interests and the prepayment assumptions is attached to that first return.

  • Who signs the return

    For a startup day after November 9, 1988, anyone who could sign the entity's return without the REMIC election, such as a corporate officer or a trustee. A paid preparer also signs the Paid Preparer Use Only area.

  • Residual interest holders

    They do not file Form 1066. For each calendar quarter they receive a Schedule Q (Form 1066) showing their share of the REMIC's taxable income or net loss.

  • Entities that stopped qualifying

    If the entity ceased to qualify as a REMIC in 2025, the instructions say the election ends for 2025 and later years, and the tax form for similarly organized entities is filed instead.

The instructions say an entity files Form 1066 if it elected to be treated as a REMIC for its first tax year, the election is still in effect, and it meets the section 860D(a) requirements.

Official sources and the blank

Do it all with indox

View all 123 tools

Questions about Form 1066

Who files Form 1066?

An entity that elected to be treated as a REMIC for its first tax year, still has the election in effect, and meets the section 860D(a) requirements, according to the instructions.

Does a REMIC pay income tax?

The instructions say a REMIC isn't subject to income tax except on net income from prohibited transactions, net income from foreclosure property and contributions after the startup day. The residual interest holders are taxed on their shares.

When is the 2025 Form 1066 due?

The instructions say generally by March 15, 2026. Form 7004 requests an automatic extension and is filed by the regular due date.

What is Schedule Q (Form 1066)?

It shows each residual interest holder's share of the REMIC's quarterly taxable income or net loss, excess inclusion and section 212 expenses. The instructions say it is a separate tax form that isn't part of Form 1066.

How is the REMIC election made?

By timely filing Form 1066 for the first tax year of the entity's existence, signed by an authorized person. The instructions say the election stays in effect until it is terminated.

How is a filed Form 1066 corrected?

The instructions say a REMIC that later finds changes to income, deductions or other items files Form 1065-X, Amended Return or Administrative Adjustment Request (AAR).

What if the REMIC's address changes after filing?

The instructions say to use Form 8822-B to notify the IRS of a change in address or responsible party after the return is filed.