Tax Considerations for REITs and RICs: Recent IRS Guidance, Distributions, Reporting Requirements, Tax Planning
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE course will provide tax counsel and advisers with an in-depth analysis of key tax considerations and related issues for real estate investments trusts (REITs) and regulated investment companies (RICs). The panel will also discuss recent developments including Revenue Procedure 2021-53 permitting certain REIT and RIC stock distributions to count as dividends for purposes of minimum dividend requirements, proposed legislation, and developments in RICs investing in cryptocurrencies.
Outline
- REITs
- Organizational requirements
- Income and asset tests
- Distribution requirements
- Qualified vs. taxable subsidiaries
- Investor taxation
- RICs
- Source of income requirements
- Diversification requirements
- Distribution requirements
- Tax treatment of qualifying RICs and shareholders
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Best practices for confronting and managing risk
Benefits
The panel will review these and other key issues:
- What are the organizational and operational tax rules for REITs?
- What are the limitations and benefits of REIT status?
- What are the income, diversification, and distributions requirements for RICs?
- How are qualifying RICs and shareholders treated for tax purposes?
- What are best practices for confronting and mitigating risk?
Faculty
Nickolas Gianou
Partner
Skadden Arps Slate Meagher & Flom
Mr. Gianou represents clients on a wide range of tax matters, including partnership transactions, public and private... | Read More
Mr. Gianou represents clients on a wide range of tax matters, including partnership transactions, public and private mergers and acquisitions, initial public and other debt and equity offerings, REITs, RICs, restructuring transactions, and investments by sovereign wealth funds and other foreign investors in the United States, including under the Foreign Investment in Real Property Tax Act. He advises private equity funds, venture capital funds, hedge funds and real estate investment funds in connection with fund formation transactions, acquisitions and dispositions, and restructurings. He also helps clients obtain private letter rulings from the IRS regarding numerous REIT and other matters.
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David Z. Nirenberg
Partner
Chapman and Cutler
Mr. Nirenberg is a partner in Chapman's Tax Department. His practice focuses on securitizations, taxable and... | Read More
Mr. Nirenberg is a partner in Chapman's Tax Department. His practice focuses on securitizations, taxable and tax-exempt derivative financial products, including tender option bond trusts, debt and equity capital markets transactions, investment funds, banks and securities dealers, choice of entity, and withholding tax issues.
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Jennifer H. Weiss
Shareholder
Greenberg Traurig
Ms. Weiss focuses her practice on structuring, negotiating, and documenting complex tax oriented commercial... | Read More
Ms. Weiss focuses her practice on structuring, negotiating, and documenting complex tax oriented commercial transactions, primarily involving real estate, real estate securities, and capital market transactions. She represents traded REITs, public non-traded REITs and private REITs, and real estate operating companies, and is involved in most aspects of their portfolio acquisitions and dispositions, fund formations, joint ventures and strategic alliances, as well as the formation, qualification, and operation of REITs for federal income tax purposes. Ms. Weiss also represents public, private, and institutional taxable and tax-exempt clients structuring collective investment and reinvestment vehicles, real estate securitization, equity and debt investment structuring and restructuring, work outs, and venture capital transactions on a tax-deferred basis, including all aspects of investments in pass-thru entities.
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