Indiana IT-966

A complete, step-by-line guide to understanding and filing Indiana Form IT-966 for corporate dissolution or liquidation.

Indiana Form IT-966, formally titled the “Notice of Corporate Dissolution, Liquidation or Withdrawal,” is a critical legal document mandated by the Indiana Department of Revenue for any corporation or organization intending to cease operations within the state. Whether a business is fully dissolving, liquidating its assets, or simply withdrawing its registration to do business in Indiana, this form serves as the official notification to the state tax authorities. By filing this document, a corporation initiates the process of closing its tax accounts and, crucially, can request a tax clearance. This clearance is vital because it officially verifies that all tax returns have been filed and all liabilities paid. Obtaining this clearance acts as a safeguard for corporate officers and directors, releasing them from personal liability for unpaid corporate taxes. Without this formal notification and subsequent clearance, the Department of Revenue retains the right to assess taxes and liabilities for up to one year, and officers may remain personally responsible for the distribution of assets before tax debts are satisfied.

How to File Indiana IT-966

Who Must File:
This requirement applies to all corporations and nonprofit organizations that are in the process of dissolving, liquidating, or withdrawing from the state of Indiana. Nonprofit organizations must also be duly registered and up to date with their specific reporting (such as Forms NP-20R and IT-20NP) to request clearance.

When To File:
To effectively request a clearance and release officers from liability, the form must be filed within 30 days of the official event—this includes the issuance of a certificate of dissolution, the adoption of a liquidation plan, or the filing of a withdrawal statement.

Required Attachments:
You cannot simply send the form alone. You must include the following supporting documents:

  1. Meeting Minutes: A copy of the minutes from the shareholders’ meeting where the dissolution plan or resolution was officially voted on and adopted.
  2. Official Certificate: A copy of the Certificate of Dissolution or Certificate of Withdrawal issued by the Secretary of State.
  3. Plan Explanation: A detailed written explanation of the liquidation or dissolution plan.
  4. Final Returns: Copies of the final federal and state corporate tax returns.

Where To Mail:
Once completed and assembled with attachments, send the package to:
Indiana Department of Revenue
Business Tax Compliance
100 North Senate Ave., Room N241
Indianapolis, IN 46204-2253

How to Complete Form IT 966

How to Complete Form IT-966

Business Identification

  • Name of Corporation: Enter the full legal name of the business as it appears on state records.
  • Federal Employer Identification Number: Provide the corporation’s FEIN (tax ID).
  • Address / City, State, ZIP: List the primary mailing address for the corporation.
  • Indiana Taxpayer Identification Number: Enter the 10-digit Indiana TID assigned to your business account.

Corporate Details

  • Type of Indiana Corporate Return Filed: Specify which tax form the business usually submits (e.g., IT-20, IT-20S, FIT-20).
  • Date Incorporated: Write the exact date the corporation was legally formed.
  • Market Value of Corporate Assets: Estimate the current fair market value of all assets held by the corporation.
  • State of Incorporation: List the state where the business was originally incorporated.
  • Corporate Liabilities: Enter the total amount of debts and financial obligations the corporation currently owes.

Liquidation And Dissolution Information

  • Type of Liquidation: Check the box for “Partial” if only some assets are being distributed, or “Complete” if the business is fully closing out.
  • Last Month, Day and Year of Final Tax Year: Provide the specific end date for the corporation’s final taxable period.
  • Date of Dissolution: Enter the official date the dissolution became effective.
  • Consolidated Return Question: Indicate “Yes” or “No” regarding whether the final return was part of a consolidated filing. If “Yes,” you must provide the Name of Common Parent and their Federal Employer Identification Number.
  • Date of Any Amendments: If the original plan of dissolution was changed, list the date those amendments occurred.
  • Internal Revenue Code Section: Cite the specific section of the IRS Code under which the liquidation or dissolution is taking place (e.g., Section 331, 332, or 337).

Declaration And Signature

  • Signature of Officer: A responsible corporate officer must sign here to certify the form’s accuracy under penalty of perjury.
  • Title and Date: The signer must list their official corporate title and the date of signing.

Officer And Shareholder Information

  • Name / Address / SSN: In the table provided at the bottom, list the names, personal addresses, and Social Security Numbers of the corporate officers and shareholders. If there are too many to fit on the form, attach an additional sheet with the same details.
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