Thank you

Welcome to the Risk Management Advisors’ Form 8886 site. This site was constructed to help our clients and their tax advisors file the Transaction of Interest Form 8886 per IRS Notice 2016-66. For a copy of the notice, please follow this link. For those who fall under this requirement, the service has an initial filing requirement for prior years going back to 2006. This filing deadline was extended by the IRS to May 1, 2017.
 
RMA strongly encourages you to complete this form well before the deadline so we can help review the information prior to filing deadline. It is our objective to have a thorough and comprehensive document. This initial filing is required for the following entities:
 
1) the captive insurance company,
2) insured companies, and
3) owners of the insured companies that are required to file.
 
Therefore, this site will generate a number of forms to cover all required filing parties.
 
The site will be asking for details including the tax identification numbers or social security numbers for the entities and owners. Please be prepared with that information. There are also fields which will request the details on the premium deductions that these companies took. The information you enter will be saved in case you need to log back in later to complete. Once you finalize your input, Risk Management Advisors will populate the remaining sections and send it to you for review.
 
It is important to note that this Form 8886 will need to be attached to your business and personal tax returns going forward (including 2016 returns). We hope that this website will make it easier for you and your tax counsel to revisit this site and comply in the coming years. As you know, Risk Management Advisors is not your legal or tax counsel. We will help with the information requested per Form 8886 but it is incumbent upon you and/or your tax counsel to review and file the document prior to the deadlines.  There are significant penalties for failure to file.
 
If you choose to have your CPA prepare these forms, we will be happy to support with any information you need.  By using this platform, we would charge $500 per form to offset our development expenses.  There will be a $3,000 cap per client per year since some clients may have a large number of forms to file.  We will be asking for your approval for this fee below.
 
Should you have any questions, please reach out to us at 562-472-2846.
 
Risk Management Advisors, Inc.