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| # of Forms | 1-100 | 101-1K | 1K+ |
|---|---|---|---|
| Pricing Tier / Form | $ 5.00 | $ 3.50 | Get a quote  |
Important note: These forms are available through Tax1099 for Enterprise users only. See our pricing page for more information on different account types.
Form 480.6D stands for Informative Return - Exempt and Excluded Income and Exempt Income Subject to Alternate Basic Tax. It is part of Puerto Rico's information returns and is used to report payments related to dividends, partnership distributions, or interest income from cooperatives. If your organization has paid $ 500 or more dividends or interest to residents or entities within Puerto Rico, you are required to file Form 480.6D.
You should file Form 480.6D when you have made payments of $500 or more to another individual for certain types of exempt income during the year. The purpose of filing this form is to report these payments to the Puerto Rico Department of the Treasury. This helps ensure that all exempt income is properly documented and compliant with tax regulations.
If businesses, cooperatives or individuals have issued payments of $ 500 or more concerning dividends or interest in Puerto Rico, they must file Form 480.6D. The former does this to ensure proper reporting of taxes from the recipients of income in these forms. A business could avoid underreporting and adhere to Puerto Rico tax law by filing Form 480.6D. This includes payments related to nonqualified stock options, qualified pension plans, governmental plans, deferred compensation plans, compensation for injuries or sickness, non-deductible individual retirement accounts, and special compensation due to business liquidation or closure.
| Filing Type | Due Date |
| Recipient Copy | - |
| SURI eFile | Friday - February 28, 2025 |
It should be filed with the Internal Revenue Service by the 28th of February after the tax year in which payments were made.
You will receive IRS acknowledgement of your eFile by email within 3 - 7 business days.
The penalty that should be charged for failure to file Form 480.6D in Puerto Rico is one that must be reported, which includes income from certain payments, such as interest, dividends, and other distributions. The lists of late filing penalties include:
Late Filing Penalty:For each return filed after the due date of an information return, Form 480.6D, a charge of $500 is assessed. The charge applies to any form that was not received by the due date.
It’s essential for businesses to comply with the filing deadlines to avoid these penalties.
Automated Compliance: Upload your files into Tax1099 and reduce the risks of mistakes, knowing that your Form 480.6D is properly filed.
Quick & Secure Filing: eFile Form 480.6D directly with Puerto Rico Treasury without having to leave your office. Tax1099's secure eFiling platform employs our 256-bit encryption.
Seamless Integrations: Imports smoothly into your current accounting software-Xero, QuickBooks, and more--then eFiles for you.
Real-time Validation: Eliminate errors by checking your 480.6D forms in real time to ensure accuracy when you submit.
Audit Protection: Maintain an audit trail of all your forms and access any forms filed directly from your account to maintain the proper documentation and audit protection for your business.
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The CFSFP Combined Federal State Filing Program allows parts of your federal eFile to be transmitted to the state at no extra charge. Non-participating states must receive a direct file. Learn more about state filing here.
