Form 1120-RIC                                                                                  U.S. Income Tax Return for                                                                           OMB No. 1545-0123
                                                                                      Regulated Investment Companies
                                                                  For calendar year 2021 or tax year beginning               , 2021, and ending                      , 20
Department of the Treasury                                                  ▶ Go to www.irs.gov/Form1120RIC for instructions and the latest information.                                            2021
Internal Revenue Service 
A     Year of RIC status                                                        Name of fund                                                                                             C  Employer identification number
                                     election
                                                                  Please        Number, street, and room or suite no. (If a P.O. box, see instructions.)                                 D  Total assets (see instructions)
                                                                  type or 
B     Date fund was established                                   print
                                     (see instructions)                         City or town, state, and ZIP code
                                                                                                                                                                                                    $ 
E                                    Check applicable boxes:                (1)   Final return (2) Name change           (3)   Address change                (4)   Amended return
F                                    Check if the fund is a personal holding company (attach Sch. PH) or if the fund is not in compliance with Regs. sec. 1.852-6 for this tax year   ▶
Part I—Investment Company Taxable Income (see instructions)
                                                1    Dividends .  .       . .   . . . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 1 
                                                2    Interest .   .       . .   . . . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 2 
                                                3    Net foreign currency gain or (loss) from section 988 transactions (attach statement) .                . .   . . .                      . 3 
                                                4    Payments with respect to securities loans .   . .           . . . . .   . .  . .  .                 . . .   . . .                      . 4 
                                                5    Excess of net short-term capital gain over net long-term capital loss from Schedule D (Form 1120), line 
                                     Income          16 (attach Schedule D (Form 1120)) .      . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 5 
                                                6    Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797)    .  . .  .                 . . .   . . .                      . 6 
                                                7    Other income (see instructions—attach statement)  .           . . . .   . .  . .  .                 . . .   . . .                      . 7 
                                                8    Total income. Add lines 1 through 7  .      . . .           . . . . .   . .  . .  .                 . . .   . . .  ▶                     8 
                                                9    Compensation of officers (see instructions—attach Form 1125-E)  .         .  . .  .                 . . .   . . .                      . 9 
                                                10   Salaries and wages (less employment credits)    .           . . . . .   . .  . .  .                 . . .   . . .                      . 10 
                                                11   Rents  . .   .       . .   . . . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 11 
                                                12   Taxes and licenses  .      . . . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 12 
                                                13   Interest (see instructions)  . . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 13 
                                                14   Depreciation (attach Form 4562) .       . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 14 
                                                15   Advertising  .       . .   . . . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 15 
                                                16   Registration fees      .   . . . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 16 
                  (see instructions)            17   Insurance  . .       . .   . . . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 17 
                                                18   Accounting and legal services    .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 18 
                                                19   Management and investment advisory fees  .      .           . . . . .   . .  . .  .                 . . .   . . .                      . 19 
                                                20   Transfer agency, shareholder servicing, and custodian fees and expenses        .  .                 . . .   . . .                      . 20 
                                     Deductions 21   Reports to shareholders  .     . .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 21 
                                                22   Other deductions (see instructions—attach statement)  .         . . .   . .  . .  .                 . . .   . . .                      . 22 
                                                23   Total deductions. Add lines 9 through 22      . .           . . . . .   . .  . .  .                 . . .   . . .  ▶                     23 
                                                24   Taxable income before deduction for dividends paid and deductions under sections 851(d)(2) and 851(i). 
                                                     Subtract line 23 from line 8  .  .      . . . . .           . . . . .   . .  . .  .                 . . .   . . .                      . 24 
                                                25   Less: a  Deduction for dividends paid (Schedule A, line 8a)         .   . .  . .                    25a 
                                                           b  Deductions  for  tax  imposed  under  sections  851(d)(2)  and  851(i) 
                                                              (Schedule J, line 2c) .        . . . . .           . . . . .   . .  . .                    25b                                  25c
                                                   Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, 
                                                   correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.      May  the  IRS  discuss  this  return 
Sign                                               ▲                                                                     ▲                                                                    with the preparer shown below? 
Here                                                                                                                                                                                          See instructions. Yes         No 
                                                     Signature of officer                            Date                    Title
                                                     Print/Type preparer’s name                    Preparer’s signature                                    Date
Paid                                                                                                                                                                                     Check          if  PTIN
                                                                                                                                                                                         self-employed 
Preparer                                                                                                                                                                                           ▶
                                                     Firm’s name     ▶                                                                                                                   Firm’s EIN 
                                                     Firm’s address 
Use Only                                                                  ▶                                                                                                              Phone no. 
For Paperwork Reduction Act Notice, see separate instructions.                                                                    Cat. No. 64140B                                             Form 1120-RIC (2021)

Form 1120-RIC (2021)                                                                                                                                   Page 2 
Part I—Investment Company Taxable Income (see instructions) (continued)
                 26  Investment company taxable income. Subtract line 25c from line 24  .    .                  .    . .  . . . .  .  .    26 
                 27  Total tax. (Schedule J, line 8)  . .  . . .      . . .      .  . . .  . .                  .    . .  . . . .  .  .    27 
                 28  Reserved for future use.   . .   . .  . . .      . . .      .  . . .  . .                  .    . .  . . . .  .  .    28
                 29a 2020 overpayment credited to 2021   .   . .      . 29a
                 b   2021 estimated tax payments      . .  . . .      . 29b
                 c   Less 2021 refund applied for on Form 4466  .     . 29c      (                            ) dBal ▶ 29d
                 e   Tax deposited with Form 7004  .    .  . . .      . . .      .  . . .  . .                  .      29e
                 f   Credit for tax paid on undistributed capital gains (attach Form 2439) . .                  .      29f
                 g   Credit for federal tax paid on fuels (attach Form 4136)  .  .  . . .  . .                  .      29g
                 h   Reserved for future use    . .   . .  . . .      . . .      .  . . .  . .                  .      29h
Tax and Payments i   Reserved for future use    . .   . .  . . .      . . .      .  . . .  . .                  .      29i                 29j
                 30  Estimated tax penalty (see instructions). Check if Form 2220 is attached   .               .    . .  . . . .  ▶       30
                 31  Amount owed. If line 29j is smaller than the total of lines 27 and 30, enter amount owed  .              . .  .  .    31 
                 32  Overpayment. If line 29j is larger than the total of lines 27 and 30, enter amount overpaid .            . .  .  .    32
                 33  Enter amount from line 32: Credited to 2022 estimated tax      . . ▶                                    Refunded  ▶   33
Part II—Tax on Undistributed Net Capital Gain Not Designated Under Section 852(b)(3)(D)
1                Net capital gain from Schedule D (Form 1120), line 17 (attach Schedule D (Form 1120)) .                  . . . .  .  .    1
2                Capital gain dividends from Schedule A, line 8b  .   . . .      .  . . .  . .                  .    . .  . . . .  .  .    2
3                Subtract line 2 from line 1  . . .   . .  . . .      . . .      .  . . .  . .                  .    . .  . . . .  .  .    3
4                Capital gains tax. Multiply line 3 by 21% (0.21). Enter tax here and on line 2b, Schedule J                . . .  .  .    4
Schedule A               Deduction for Dividends Paid (Do not include exempt-interest dividends or capital gain dividends 
                         reported on Form 2438, line 9b. See instructions.) 
1                Dividends paid (other than dividends paid after the end of the tax year). Do  not include                  (a) Ordinary dividends (b) Capital gain 
                 dividends deemed paid in the preceding tax year under section  852(b)(7) or 855(a), or                                            dividends
                 deficiency dividends as defined in section 860(f)  . . . .      .  . . .  . .                  .    . .    1
2                Dividends paid in the 12-month period following the close of the tax year that the fund 
                 elects to treat as paid during the tax year under section 855(a)   . . .  . .                  .    . .    2
3                Dividends declared in October, November, or December and deemed paid on December 
                 31 under section 852(b)(7)  .  . .   . .  . . .      . . .      .  . . .  . .                  .    . .    3
4                Consent dividends (section 565) (attach Forms 972 and 973)  .      . . .  . .                  .    . .    4
5                Deficiency dividends (section 860) (attach Form 976)   . .      .  . . .  . .                  .    . .    5
6                Foreign tax paid deduction (section 853(b)(1)(B)), if applicable . . . .  . .                  .    . .    6
7                Credits from tax credit bonds distributed to shareholders (see instructions)    .              .    . .    7
8                Deduction for dividends paid:
a                Ordinary dividends. Add lines 1 through 7 of column (a). Enter here and on line 25a, Part I                8a
b                Capital gain dividends. Add lines 1 through 5 of column (b). Enter here and on line 2, 
                 Part II, above  . . . . .      . .   . .  . . .      . . .      .  . . .  . .                  .    . .    8b
Schedule B               Information Required With Respect to Income From Tax-Exempt Obligations
1                Did the fund qualify under section 852(b)(5) or 852(g) to pay exempt-interest dividends for 2021?              .  .  .  ▶         Yes No
                 If “Yes,” complete lines 2 through 5.
2                Amount of interest excludable from gross income under section 103(a)  .   . .                  .    . .  . . . .  .  .    2
3                Amounts disallowed as deductions under sections 265 and 171(a)(2)      .  . .                  .    . .  . . . .  .  .    3
4                Net income from tax-exempt obligations. Subtract line 3 from line 2  . .  . .                  .    . .  . . . .  .  .    4
5                Amount of line 4 designated as exempt-interest dividends  .     .  . . .  . .                  .    . .  . . . .  .  .    5
Schedule J               Tax Computation (see instructions)
1                Check if the fund is a member of a controlled group (attach Schedule O (Form 1120))  .                   . . . .   ▶
2a               Tax on investment company taxable income  .   .      . . .      .  . . .  . .                  .      2a
b                Tax on undistributed net capital gain (from Part II, line 4)  . .  . . .  . .                  .      2b
c                Tax imposed under sections          851(d)(2)  and     851(i)      . . .  . .                  .      2c
d                Income tax. Add lines 2a through 2c    .  . . .      . . .      .  . . .  . .                  .    . .  . . . .  .  .    2d
3a               Foreign tax credit (attach Form 1118)  .  . . .      . . .      .  . . .  . .                  .      3a
b                Credit from Form 8834, line 7 (attach Form 8834)     . . .      .  . . .  . .                  .      3b
c                General business credit (attach Form 3800)  . .      . . .      .  . . .  . .                  .      3c
d                Other credits (attach statement—see instructions)  .   . .      .  . . .  . .                  .      3d
e                Total credits. Add lines 3a through 3d  . . . .      . . .      .  . . .  . .                  .    . .  . . . .  .  .    3e
4                Subtract line 3e from line 2d  . .   . .  . . .      . . .      .  . . .  . .                  .    . .  . . . .  .  .    4
                                                                                                                                           Form 1120-RIC (2021)

Form 1120-RIC (2021)                                                                                                                           Page 3 
Schedule J           Tax Computation (see instructions) (continued)
5   Personal holding company tax (attach Schedule PH (Form 1120))        .   .     . .       . . . . . . .       . .   5
6   Interest on deferred tax liability for installment obligations under sections:   453A(c) and/or      453(l)(3)     6
7   Other taxes. Check if from:                Form 4255              Other (attach statement)  .    . . .       . .   7
8   Total tax. Add lines 4 through 7. Enter here and on line 27     . .  .   .     . .       . . . . . . .       . .   8
Schedule K           Other Information (see instructions)
1   Check method of accounting:                                                                                                                Yes No
a      Cash              b       Accrual           c     Other (specify)  ▶
2   At the end of the tax year, did the RIC own, directly or indirectly, 50% or more of the voting stock of a domestic corporation? .        .
    (For rules of attribution, see section 267(c).)
    If “Yes,” attach a statement showing (a) name and identification number, (b) percentage owned, and (c) taxable income or (loss) 
    before a net operating loss (NOL) and special deductions of such corporation for the tax year ending with or within your  tax year. 
3   Is the RIC a subsidiary in a parent-subsidiary controlled group?  .  .   .     . .       . . . . . . .       . . . . .     .             .
    If “Yes,” enter the employer identification number and the name of the parent corporation ▶

4   At the end of the tax year, did any individual, partnership, corporation, estate, or trust own, directly or indirectly, 50% or 
    more of the RIC’s voting stock? (For rules of attribution, see section 267(c).)  .       . . . . . . .       . . . . .     .             .
    If “Yes,” attach a statement showing name and identification number. (Do not include any information already entered in                   3
    above.) Enter percentage owned  ▶
5   At any time during the tax year, did one foreign person own, directly or indirectly, at least 25% of:
a   The total voting power of all classes of stock of the fund entitled to vote, or
b   The total value of all classes of stock of the fund? . .     .  . .  .   .     . .       . . . . . . .       . . . . .     .             .
    If “Yes,” enter:
    (1) Percentage owned  ▶
    (2) Owner’s country  ▶
    The fund may have to file Form 5472. Enter number of Forms 5472 attached  ▶
6   During this tax year, did the fund pay dividends (other than stock dividends and distributions in exchange for stock) in excess 
    of the fund’s current and accumulated earnings and profits? (see sections 301 and 316)         . . . .       . . . . .     .             .
    If “Yes,” file Form 5452.
7   Check this box if the fund issued publicly offered debt instruments with original issue discount  .  .       . . . . .      ▶
    If checked, the fund may have to file Form 8281.
8   Enter the amount of tax-exempt interest received or accrued during the tax year.  ▶          $
9   If this return is being filed for a series fund (as defined in section 851(g)(2)), enter:
a   The name of the regulated investment company in which the fund is a series ▶
b   The date the regulated investment company was incorporated or organized  ▶
10a Section 853 election.  Check this box if the fund meets the requirements of section 853(a) and section 901(k) and    elects 
    to pass through the deduction or credit for foreign taxes it paid to its shareholders. See the instructions for additional 
    details and requirements  .  .     . .   . .   . .   . .     .  . .  .   .     . .       . . . . . . .       . . . . .  ▶
b   Section 852(g) election. Check this box if the fund meets the requirements of section 852(g) and elects the application 
    of  section  853  without  regards  to  the  requirement  of  section  853(a)(1).  See  the  instructions  for  additional  details  and 
    requirements  .    . .   . . .     . .   . .   . .   . .     .  . .  .   .     . .       . . . . . . .       . . . . .  ▶
11  Section 853A election.   Check this box if the fund elects under section 853A to pass through credits from tax credit 
    bonds to its shareholders. See instructions    . .   . .     .  . .  .   .     . .       . . . . . . .       . . . . .  ▶
12  Section 852(b)(8) election.  Check this box if, for purposes of computing taxable income, the fund elects under    section 
    852(b)(8) to defer all or part of its post-October capital loss or late-year ordinary loss for this tax year . . . . .  ▶
    If the election is made, enter the amounts deferred:
a   Post-October capital loss  ▶
b   Late-year ordinary loss  ▶
13  Did the corporation have an election under section 163(j) for any real property trade or business or any farming business in 
    effect during the tax year (see instructions)? . .   . .     .  . .  .   .     . .       . . . . . . .       . . . . .     .             .
14  Does the RIC satisfy one or more of the following (see instructions)?    .     . .       . . . . . . .       . . . . .     .             .
a   The RIC owns a pass-through entity with current or prior year carryover excess business interest expense.
b   The  RIC’s  aggregate  average  annual  gross  receipts  (determined  under  section  448(c))  for  the  3  tax  years  preceding  the 
    current tax year are more than $26 million and the corporation has business interest expense.
c   The RIC is a tax shelter and the RIC has business interest expense.
d   The RIC paid section 163(j) interest dividends for the tax year.
    If “Yes” to any, complete and attach Form 8990.
15  Is the RIC attaching Form 8996 to certify as a Qualified Opportunity Fund?       .       . . . . . . .       . . . . .     .             .
    If “Yes,” enter amount from Form 8996, line 15  .    . .     .  . .  .   .     . . ▶
                                                                                                                       Form 1120-RIC (2021)

Form 1120-RIC (2021)                                                                                                                                                        Page 4 
Schedule L Balance Sheets per Books                            Beginning of tax year                                                          End of tax year
                           Assets                          (a)                                 (b)                                    (c)                                (d)
1    Cash  .  .      . .   . .    . .    . . .    .  
2a   Trade notes and accounts receivable  .       .
b    Less allowance for bad debts .      . . .    .        (                              )                                     (                                 ) 
3    U.S. government obligations  .      . . .    .
4    Tax-exempt securities (see instructions)     .
5    Other current assets (attach statement) .    .
6    Loans to shareholders  .     . .    . . .    .
7    Mortgage and real estate loans  .     . .    .
8    Other investments (attach statement)    .    .
9a   Buildings and other fixed depreciable assets .
b    Less accumulated depreciation  .      . .    .        (                              )                                     (                                 ) 
10   Land (net of any amortization) .    . . .    .
11a  Intangible assets (amortizable only)  . .    .
b    Less accumulated amortization  .      . .    .        (                              )                                     (                                 ) 
12   Other assets (attach statement)  .    . .    .
13   Total assets  .   .   . .    . .    . . .    .
     Liabilities and Shareholders’ Equity
14   Accounts payable      . .    . .    . . .    .
15   Mortgages, notes, bonds payable in less than 1 year
16   Other current liabilities (attach statement) .
17   Loans from shareholders  .     .    . . .    .
18   Mortgages, notes, bonds payable in 1 year or more
19   Other liabilities (attach statement)  . .    .
20   Capital stock  .  .   . .    . .    . . .    .
21   Additional paid-in capital  .  .    . . .    .
22   Retained earnings—Appropriated (attach statement)
23   Retained earnings—Unappropriated        .    .
24   Adjustments to shareholders’ equity (attach statement)
25   Less cost of treasury stock    .    . . .    .                                         (                                 )                                     (                                 ) 
26   Total liabilities and shareholders ’equity . .
Note: The fund is not required to complete Schedules M-1 and M-2 if the total assets on Schedule L, line 13, column (d), are less than $25,000.
Schedule M-1         Reconciliation of Income (Loss) per Books With Income per Return (see instructions)
1    Net income (loss) per books  .      . . .                                              7  Income recorded on books this year
2    Federal income tax (less built-in gains tax)                                              not included on this return (itemize):
3    Excess of capital losses over capital gain                                                Tax-exempt interest                  $
4    Income subject to tax not recorded on 
     books this year (itemize):                                                             8  Deductions on this return not charged 
                                                                                               against book income this year (itemized):
                                                                                            a  Depreciation .                   . . $
5    Expenses recorded on books this year not                                               b  Deduction  for  dividends  paid  (line 
     deducted on this return (itemize):                                                        25a, Part I) .                   . . $
a    Depreciation  .   .   .  $
b    Expenses  allocable  to  tax-exempt  interest                                          9  Net capital gain from Form 2438, line 9a
     income . .      . .   .  $                                                             10 If the fund did not file Form 2438, enter 
c    Section 4982 tax .    .  $                                                                the net capital gain from Schedule D 
d    Travel and entertainment $                                                                (Form 1120), line 17. Otherwise, enter -0-
                                                                                            11 Add lines 7 through 10                 .    .  .  
                                                                                            12 Investment company taxable income 
6    Add lines 1 through 5  .     . .    . . .                                                 (line 26, Part I)—line 6 less line 11
Schedule M-2         Analysis of Unappropriated Retained Earnings per Books (Schedule L, line 23)
1    Balance at beginning of year  .     . . .                                              5  Distributions:                   a Cash  .  .  .
2    Net income (loss) per books    .    . . .                                                                                  b Stock  . .  .
3    Other increases (itemize):                                                                                                 c Property  . .
                                                                                            6  Other decreases (itemize):

                                                                                            7  Add lines 5 and 6 .                  . .    .  .
4    Add lines 1, 2, and 3.  .    . .    . . .                                              8  Balance at end of year (line 4 less line 7)
                                                                                                                                                                    Form 1120-RIC (2021)