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Thread: couple of questions about form 1

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    couple of questions about form 1

    Hey Guy's, I am submitting my first form 1,paper version, for an SBR, and have gotten different answers about which box to check for line 2. I am going the trust route, so do I check individual or corperation/bus. entity ? also, DO I submit a 5330.20 when using a trust? if so 1 copy or duplicate? Thanks for any help you can share. Tom Foy

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    First question is why in the world are you submitting a paper F1 if filing as a trust.

    Now, to answer the questions:
    1. Corporation or Other Business Entity
    2. No. They won't deny you if you do (and it's only 1 copy for an individual since they don't return one to you), but there's no way to certify your trust isn't an illegal alien. Remember, you're not the applicant, the trust is. Same logic as to why the entire back page (p2) stays blank...since you can't answer Yes/No to any of those questions as the trust, not the trustee.
    Last edited by BigWaylon; 11-19-14 at 13:20.

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    [QUOTE=BigWaylon;2028736]First question is why in the world are you submitting a paper F1 if filing as a trust.

    O.K. you've convinced me, I am going to get computer help and file online. Thank you, Tom Foy

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    Quote Originally Posted by Tom Foy View Post
    O.K. you've convinced me, I am going to get computer help and file online. Thank you, Tom Foy
    If you haven't seen it, this thread should help.

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    Efile has been down since March. It was still down as of last Monday that I know of. Paper file only right now. Also my experience is paper file has been no slower that Efile and wait times seem to depend more on what you're buying than how you filed. YMMV
    Last edited by John Rambo; 11-22-14 at 01:24.

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    Quote Originally Posted by John Rambo View Post
    Efile has been down since March. It was still down as of last Monday that I know of. Paper file only right now. Also my experience is paper file has been no slower that Efile and wait times seem to depend more on what you're buying than how you filed. YMMV
    Ummm...what?
    Efile went down 4/4. It came back up with a couple forms a month or two later. You've been able to submit Form 1s in EForms since 6/24. Form 4s are still not available, though...so you can make, but not transfer.

    Current turnaround time on an eFiled F1 is ~35 days. Had one approved this week.
    Last edited by BigWaylon; 11-22-14 at 07:29.

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    Was able to E-File Yesterday, Was Pretty Simple, Hopefully I Made No Errors. Tom Foy

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    Quote Originally Posted by BigWaylon View Post
    If you haven't seen it, this thread should help.

    As you have noticed in this thread, there are some incredibly stupid things people say, such as eForms have been down since March.

    Follow the link provided...read it very, very carefully. Take your time filling out the forms. Triple-check that you have done EVERYTHING precisely as the guide stipulates.

    My SBR approval took 28 business days from submission to approval.

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    A friend of mine did one recently, 35 days for approval.

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