Corporate Application for IRS Section 42 Disposition Bond
Instructions
The Corporate Application should be completed if a corporation has an ownership interest in Section 42 property. The corporation can be the direct owner of the property or it can be an investor in a partnership that owns the property.
This application must be completed in its entirety. Incomplete applications cannot be underwritten. Parts or all of this application may be duplicated. You may have to duplicate the Individual Information Section so that each required individual can complete a separate application. There are instructions at the top of each section of the application to guide you through completion.
A COMPLETED APPLICATION should include:
- Completed Corporate Application, including separate Individual Information Section* and Indemnity Agreements for each officer or employee that has 15% or more ownership interest in the corporation.
- Three full years of financial statements*.
*Note: If the applicant (a) is a publicly-traded corporation, (b) publicly publishes its financial information and (c) has a net worth in excess of $100 million, it is not necessary to complete the Individual Information Section or to provide financial statements.
SEND THE COMPLETED APPLICATION TO:
Jack Walsh
Cobb Strecker Dunphy & Zimmermann
4726 East Towne Blvd, Suite 230
Madison, WI 53704
(800) 996-2550 or (608) 242-2550
jwalsh@csdz.com
UNDERWRITING PROCESS:
Upon receipt of the necessary documents, CSD&Z will proceed to underwrite your corporate application. The normal underwriting process includes obtaining credit reports on the corporation and all individuals with 15% or more ownership interest in the corporation. CSD&Z will make an underwriting decision within two weeks of receipt of your completed application.
After the bond is approved, CSD&Z will send you an offer letter with a premium quotation. If you decide to purchase the bond, simply return the bond premium payment in the envelope provided with the offer letter. Within two weeks, CSD&Z will send the properly executed surety bond for your signature along with detailed instructions on how to file the bond with the IRS.
Download Application Form
[PDF] Corporate Application | [Word Doc] Corporate Application
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