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                                     VOID            CORRECTED
Name, address, and ZIP code of RIC or REIT               OMB No. 1545-0123      Notice to Shareholder of Undistributed 
                                                                                          Long-Term Capital Gains
                                                                                For calendar year 20             , or other tax year
                                                                                 of the regulated investment company (RIC) or the 
                                                         Form 2439                        real estate investment trust (REIT)
                                                     (Rev. November 2021)
                                                                                          beginning              , 20 , and
                                                                                          ending                 , 20

Identification number of RIC or REIT                 1a Total undistributed long-term capital gains
                                                                                                                      Copy A 
Shareholder’s identifying number                     1b Unrecaptured section 1250 gain                                Attach to 
                                                                                                                      Form 1120-RIC 
                                                                                                                      or Form 1120-REIT.
Shareholder’s name, address, and ZIP code            1c Section 1202 gain              1d Collectibles (28%) gain
                                                                                                                      For Instructions 
                                                     2   Tax paid by the RIC or REIT on the box 1a gains              and Paperwork 
                                                                                                                      Reduction Act 
                                                                                                                     Notice, see back of 
                                                                                                                      Copies A and D.
Form 2439 (Rev. 11-2021)             Cat. No. 11858E     www.irs.gov/Form2439             Department of the Treasury - Internal Revenue Service

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Instructions for the Regulated Investment RIC’s or REIT’s name, address, and identification number. Enter
the name, address (including ZIP code) and employer identification
Company (RIC) and the Real Estate number (EIN) of the RIC or REIT as shown on Form 2438,
Investment Trust (REIT) Undistributed Capital Gains Tax Return.
Section references are to the Internal Revenue Code. Shareholder’s identifying number, name, and address. Enter the
shareholder’s social security number (SSN), name, and address
Reporting Information (including ZIP code). If the shareholder is not an individual, enter the
1. Complete Copies A, B, C, and D for each shareholder for EIN. If a shareholder is an IRA, enter the identification number of the
whom the regulated investment company (RIC) or real estate IRA trust. Do not enter the SSN of the person for whom the IRA is
investment trust (REIT) paid tax on undistributed capital gains under maintained.
section 852(b)(3)(D) or 857(b)(3)(C). The RIC or REIT can truncate a shareholder’s identifying number
2. Attach Copy A of all Forms 2439 to Form 1120-RIC or Form on the Form 2439 the RIC or REIT sends to the shareholder.
1120-REIT when it is filed at the appropriate IRS service center. Truncation is not allowed on the Form 2439 the RIC or REIT files
3. Furnish Copies B and C of Form 2439 to the shareholder by the with the IRS. Also, the RIC or REIT cannot truncate its own
60th day after the end of the RIC’s or the REIT’s tax year. identification number on any form.
4. Retain Copy D for the RIC’s or REIT’s records. To truncate, where allowed, replace the first 5 digits of the 9-digit
For a shareholder that is an individual retirement number with asterisks (*) or Xs (for example, an SSN xxx-xx-xxxx
arrangement (IRA), send Copies B and C to the trustee or would appear as ***-**-xxxx or XXX-XX-xxxx). For more information,
▲! custodian of the IRA. Do not send copies to the owner of see Regulations section 301.6109-4.
CAUTION the IRA. Box 1a. Enter the amount of undistributed capital gains from line
11, Form 2438 (Rev. December 2020) or the applicable line of the
current revision of the form, allocable to the shareholder.
(Continued on the back of Copy D)

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                                     VOID  CORRECTED
Name, address, and ZIP code of RIC or REIT     OMB No. 1545-0123 Notice to Shareholder of Undistributed 
                                                                                Long-Term Capital Gains
                                                                 For calendar year 20                   , or other tax year
                                                                  of the regulated investment company (RIC) or the 
                                               Form 2439                        real estate investment trust (REIT)
                                           (Rev. November 2021)
                                                                                beginning               , 20 , and
                                                                                ending                  , 20

Identification number of RIC or REIT       1a Total undistributed long-term capital gains
                                                                                                             Copy B  
Shareholder’s identifying number           1b Unrecaptured section 1250 gain                                 Attach to the 
                                                                                                             shareholder’s 
                                                                                                             income tax return 
Shareholder’s name, address, and ZIP code  1c Section 1202 gain              1d Collectibles (28%) gain      for the tax year 
                                                                                                             that includes the 
                                           2   Tax paid by the RIC or REIT on the box 1a gains               last day of the 
                                                                                                             RIC’s or REIT’s 
                                                                                                             tax year.

Form 2439 (Rev. 11-2021)                   www.irs.gov/Form2439                 Department of the Treasury - Internal Revenue Service

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Instructions for the Shareholder Box 1b. This amount is the unrecaptured section 1250 gain.
Section references are to the Internal Revenue Code. Individual filers report this amount on line 11 of the Unrecaptured
Section 1250 Gain Worksheet in the Schedule D (Form 1040)
Reporting Information instructions for 2021 or the applicable line of the worksheet in the
Shareholder’s identifying number. For your protection, Form 2439 instructions for the current year. Estates and trusts use this amount
may show only the last four digits of your identifying number (social to complete the Unrecaptured Section 1250 Gain Worksheet in the
security number (SSN), etc.). However, the RIC or REIT has reported Schedule D (Form 1041) instructions.
your complete identifying number to the IRS. Box 1c. This amount applies to the portion of the amount in box 1a
Box 1a. This amount is your total undistributed long-term capital attributable to a section 1202 gain (sale of qualified small business
gain from your regulated investment company (RIC) or real estate stock). Individual filers, see Exclusion of Gain on Qualified Small
investment trust (REIT). Business (QSB) Stock in the Schedule D (Form 1040) instructions.
Estates and trusts, see Exclusion of Gain on Qualified Small
Report the total amount as a long-term capital gain on the Business (QSB) Stock (Section 1202) in the Schedule D (Form 1041)
appropriate Schedule D. For example, individuals report this amount instructions.
on line 11, column (h), of Schedule D (Form 1040). Estates and Box 1d. This amount is the collectibles gain (28% rate gain) portion
trusts report this amount on Schedule D (Form 1041). of the amount in box 1a. Individual filers enter this amount on line 4
Corporate shareholders report this amount in Part II of Form of the 28% Rate Gain Worksheet in the Schedule D (Form 1040)
8949. See Form 8949, Schedule D (Form 1120), and the related instructions for 2021 or the applicable line of the worksheet in the
instructions for details. instructions for the current year. Estates and trusts use this amount
If there is an amount in box 1b, 1c, or 1d, special instructions to complete the 28% Rate Gain Worksheet in the Schedule D (Form
apply for entering those amounts on the appropriate Schedule D. 1041) instructions.
See Undistributed Capital Gains in the Schedule D (Form 1040) Box 2. This amount is the tax paid by the RIC or REIT on the
and Schedule D (Form 1041) instructions. undistributed long-term capital gains shown in box 1a. You can
apply for a refund or credit of this tax as follows.
(Continued on the back of Copy C)

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                                     VOID  CORRECTED
Name, address, and ZIP code of RIC or REIT     OMB No. 1545-0123 Notice to Shareholder of Undistributed 
                                                                               Long-Term Capital Gains
                                                                            For calendar year 20       , or other tax year
                                                                  of the regulated investment company (RIC) or the 
                                               Form 2439                       real estate investment trust (REIT)
                                           (Rev. November 2021)
                                                                               beginning               , 20 , and
                                                                               ending                  , 20

Identification number of RIC or REIT       1a Total undistributed long-term capital gains

Shareholder’s identifying number           1b Unrecaptured section 1250 gain
                                                                                                            Copy C  
Shareholder’s name, address, and ZIP code  1c Section 1202 gain             1d Collectibles (28%) gain      For shareholder’s 
                                                                                                            records.
                                           2   Tax paid by the RIC or REIT on the box 1a gains

Form 2439 (Rev. 11-2021)                   www.irs.gov/Form2439                Department of the Treasury - Internal Revenue Service

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Instructions for the Shareholder (Continued) Nominees. If you are not the actual owner of the shares for which
Individuals, nonresident aliens, and estates and trusts. See this form is issued, you must do the following.
line 13a of Schedule 3 (Form 1040) of the 2021 form or the 1. Complete Copies A, B, C, and D of Form 2439 for each owner.
applicable line on the current year form, or Schedule G, line 16a of The total undistributed long-term capital gains entered in box 1a;
Form 1041 of the 2021 form or the applicable line on the current the amounts entered in boxes 1b, 1c, and 1d and the tax shown in
year form, and the related instructions. box 2 on the Form 2439 for each owner must agree with the
Corporations (other than S corporations). See Schedule J, line amounts on Copy B that you received from the RIC or REIT.
20a of Form 1120 of the 2021 form or the applicable line on the 2. Enter your name as “Nominee” and your address in the block
current year form, or line 5f of Form 1120-F of the 2021 form or the for the RIC’s or REIT’s name and address, and the RIC’s or REIT’s
applicable line on the current year form, and the related instructions. name and address in the same block.
All other corporations report this amount on the line designated as 3. Write “Nominee” in the upper right corner of the Copy B you
“Credit for tax paid on undistributed capital gains.” received from the RIC or REIT and attach it to the Copy A you
S corporations and partnerships. See the Specific Instructions completed.
for Schedules K and K-1, Part III (Forms 1120-S and 1065) for 4. File the Copy B you received (with an attached Copy A) with
details on reporting each item to the shareholders and partners. the Internal Revenue Service Center where you file your income tax
Exempt organizations and certain trustees. See the return.
Instructions for Form 990-T if it is filed by: 5. Give the actual owner Copies B and C of the forms you
1. Organizations exempt from tax under section 501(a) filing Form complete.
990-T to claim their refund of income tax paid on undistributed 6. Copy D is to be maintained by the RIC or REIT.
long-term capital gains, or A nominee has 90 days after the close of the RIC’s or REIT’s tax
2. Trustees for individual retirement arrangements (IRAs) year to complete items 1 through 5 above. However, a nominee
described in section 408 (including accounts described in section acting as a custodian of a unit investment trust described in section
408(h)) filing a single composite Form 990-T to claim the refund 851(f)(1) has 70 days. A nominee who is a resident of a foreign
referred to above. country has 150 days.

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                                     VOID  CORRECTED
Name, address, and ZIP code of RIC or REIT     OMB No. 1545-0123 Notice to Shareholder of Undistributed 
                                                                                Long-Term Capital Gains
                                                                 For calendar year 20                   , or other tax year
                                                                  of the regulated investment company (RIC) or the 
                                               Form 2439                        real estate investment trust (REIT)
                                           (Rev. November 2021)
                                                                                beginning               , 20 , and
                                                                                ending                  , 20

Identification number of RIC or REIT       1a Total undistributed long-term capital gains

Shareholder’s identifying number           1b Unrecaptured section 1250 gain                                 Copy D  
                                                                                                             For records of the 
                                                                                                             regulated 
Shareholder’s name, address, and ZIP code  1c Section 1202 gain              1d Collectibles (28%) gain      investment 
                                                                                                             company or the 
                                           2   Tax paid by the RIC or REIT on the box 1a gains               real estate 
                                                                                                             investment trust.

Form 2439 (Rev. 11-2021)                   www.irs.gov/Form2439                 Department of the Treasury - Internal Revenue Service

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Instructions for the RIC and the REIT Paperwork Reduction Act Notice. We ask for the information on
(Continued) this form to carry out the Internal Revenue laws of the United
Box 1b. Enter the shareholder’s allocable portion of the amount States. You are required to give us the information. We need it to
from box 1a that has been designated as unrecaptured section ensure that you are complying with these laws and to allow us to
1250 gain from the disposition of depreciable real property. figure and collect the right amount of tax.
Box 1c. The section 1202 gain is the portion of box 1a that is You are not required to provide the information requested on a
attributable to the sale or exchange by the RIC of qualified small form that is subject to the Paperwork Reduction Act unless the form
business stock issued after August 10, 1993, and held for more than displays a valid OMB control number. Books or records relating to a
5 years. Enter the shareholder’s allocable portion of the amount form or its instructions must be retained as long as their contents
from box 1a attributable to a section 1202 gain. In addition, attach a may become material in the administration of any Internal Revenue
statement that reports separately for each designated section 1202 law. Generally, tax returns and return information are confidential,
gain the following information: the amount of the section 1202 gain, as required by section 6103.
the name of the corporation that issued the stock, the dates on The time needed to complete and file this form will vary depending
which the RIC acquired and sold the stock, and the shareholder’s on individual circumstances. The estimated burden for business
portion of the RIC’s adjusted basis and sales price of the stock. taxpayers filing this form is approved under OMB control number
Box 1d. Enter the shareholder’s allocable portion of the amount 1545-0123 and is included in the estimates shown in the instructions
from box 1a attributable to collectibles gain (28% rate gain). Do not for their business income tax return.
include any section 1202 gain in box 1d. If you have comments concerning the accuracy of these time
Box 2. Enter the tax paid on the amount in box 1a. estimates or suggestions for making this form simpler, we would
Future developments. For the latest information about be happy to hear from you. You can send us comments from www.
developments related to Form 2439 and its instructions, such as irs.gov/FormComments. Or you can write to the Internal Revenue
legislation enacted after they were published, go to Service, Tax Forms and Publications Division, 1111 Constitution
www.irs.gov/Form2439. Ave. NW, IR-6526, Washington, DC 20224.

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