1120-ND

Return for Nuclear Decommissioning Funds and Certain Related Persons

Agency
IRS
Revision
Rev. December 2025
Fillable fields
132
Pages
2
Official source
IRS form page
Checked
October 21, 2026
Fill 1120-ND online
Page 1 of form 1120-ND

Form 1120-ND: Return for Nuclear Decommissioning Funds and Certain Related Persons

Form 1120-ND, Return for Nuclear Decommissioning Funds and Certain Related Persons, is the return a nuclear decommissioning fund files with the IRS. The IRS says nuclear decommissioning funds use it to report contributions received, income earned, the administrative expenses of operating the fund, the tax on modified gross income, and the section 4951 initial taxes on self-dealing.

The instructions explain that taxpayers electing under section 468A are allowed deductions for amounts contributed to a qualified fund, up to 100% of the present value of the nuclear power plant's decommissioning costs. The fund itself then reports its income on this form, and the form figures the fund's tax at 20% of modified gross income. Trustees and disqualified persons who owe the section 4951 tax on self-dealing file their own Form 1120-ND.

The instructions say to use the December 2025 revision for 2025 and later years until a superseding revision is issued. You can fill out Form 1120-ND free in your browser on this page and download it without an account.

What's on Form 1120-ND

Header and items A to E

The tax year, fund name and EIN, the name and identifying number of a trustee or disqualified person, who the return is filed for, change boxes and where the books are kept.

Part I: income and deductions

Lines 1 to 12 list taxable interest, capital gain net income and other income, then trustee fees, taxes, accounting and legal services, other deductions and any NOL deduction.

Part I: tax, payments and refund

Line 13a is the total tax at 20% of modified gross income. Lines 13b to 18 cover section 1062 amounts, payments, the estimated tax penalty, tax due, overpayment and direct deposit.

Schedule L: balance sheets

Assets such as cash, certificates of deposit and government obligations, then liabilities and fund balance, at the beginning and end of the year.

Schedule M: other information

The electing taxpayer's name and EIN, contributions, the ruling amount, distributions, tax-exempt interest, and yes or no questions on the use of fund assets and self-dealing.

Part II: initial taxes on self-dealing

Section A lists each act with its date, description, the persons liable and the amount involved. Section B totals the section 4951 taxes, payments with Form 7004 and the tax due.

How to fill out Form 1120-ND

  1. 1

    Header and item C

    Enter the fund's true name, address and EIN. In item C, check Fund for the fund's income tax return, or Trustee or Disqualified person for a section 4951 return. The instructions say item B is not completed on the fund's return.

  2. 2

    Lines 1 to 12

    Enter taxable interest (tax-exempt interest goes on Schedule M, line 2d), capital gains from Schedule D (Form 1120), other income and the deductions. The instructions say decommissioning costs are not included in other deductions.

  3. 3

    Lines 13a to 18

    Multiply line 12 by 20% (0.20) on line 13a, enter payments on lines 14a to 14z, check the box on line 15 if Form 2220 is attached, then figure tax due or overpayment and any direct deposit.

  4. 4

    Schedules L and M

    The instructions say the balance sheets should agree with the fund's books and records. On Schedule M, enter the electing taxpayer and the contribution amounts, and answer the questions on lines 3, 4 and 5.

  5. 5

    Part II, if there was self-dealing

    List each act and the amount involved. The form figures the tax on a self-dealing disqualified person at 10% of column (f) and the tax on a trustee at 2 1/2% of column (f).

  6. 6

    Sign

    An authorized trustee signs and dates the fund's return. The instructions say a person who engaged in self-dealing, or the individual authorized to sign for that person, signs that person's return.

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Where to send it, deadlines and payments

When to file

The instructions say a fund generally files by the 15th day of the 4th month after the end of its tax year. A fund with a fiscal year ending June 30 files by the 15th day of the 3rd month.

Where to file

If the fund's principal business, office or agency is in the United States: Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201-0012. In a foreign country or U.S. territory: Internal Revenue Service Center, P.O. Box 409101, Ogden, UT 84409.

Extension

The instructions say to file Form 7004 to request an extension of time to file, generally by the regular due date. Trustees and disqualified persons reporting section 4951 taxes also use Form 7004.

Paying the tax

The instructions say nuclear decommissioning funds use electronic funds transfer (EFT) for all federal tax deposits, through EFTPS or the fund's IRS business tax account. Section 4951 tax due in Part II is paid in full with the return.

Estimated tax

The instructions say the fund makes installment payments if it expects its total tax for the year to be $500 or more, due by the 15th day of the 4th, 6th, 9th and 12th months of the tax year.

Late filing penalty

The instructions say a late return may be penalized 5% of the unpaid tax for each month or part of a month, up to 25%. For a return more than 60 days late, the minimum is the lesser of the tax due or $525 (adjusted for inflation).

Who files Form 1120-ND?

  • Section 468A nuclear decommissioning funds

    The instructions say all section 468A nuclear decommissioning funds file Form 1120-ND, and an authorized trustee signs and dates the fund's return.

  • Disqualified persons who engaged in self-dealing

    The instructions say a disqualified person engaging in self-dealing files Form 1120-ND to report the initial tax under section 4951.

  • Trustees who took part in self-dealing

    A trustee liable for section 4951 tax checks the Trustee box in item C and files a separate return. The instructions say each person liable for tax on this form files a separate return.

  • Paid preparers

    The instructions say anyone paid to prepare the return generally signs and completes the Paid Preparer Use Only section, includes a PTIN and gives a copy to the taxpayer.

  • Who counts as a disqualified person

    The instructions list contributors to the fund, trustees, certain owners of more than 10%, officers, directors and employees of a contributor, certain family members and certain related entities.

This is a return for funds and certain related persons, not for individuals filing their own income tax. Item C on the form says who the return is filed for: the fund, a trustee or a disqualified person.

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Questions about Form 1120-ND

What is a nuclear decommissioning fund?

The instructions describe it as a qualified fund under section 468A to which an electing taxpayer contributes amounts, deductible up to 100% of the present value of a nuclear power plant's decommissioning costs.

What is the tax rate on the fund's income?

The form says to multiply modified gross income on line 12 by 20% (0.20) to get the total tax on line 13a.

Who reports the section 4951 tax on self-dealing?

The disqualified person or trustee who owes it, on a separate Form 1120-ND. The instructions say the initial tax is 10% of the amount involved for a disqualified person and 2 1/2% for a trustee who participates.

Is there an exception for corrected self-dealing?

The instructions say the initial tax on an act of self-dealing is not imposed if the acts are corrected within the tax period.

Can the fund get its refund by direct deposit?

Yes. Lines 18c to 18e hold the routing number, account type and account number. The instructions say direct deposit is not available to a foreign bank or a foreign branch of a U.S. bank.

Which revision of Form 1120-ND should be used?

The instructions say to use the December 2025 revision for 2025 and subsequent years until a superseding revision is issued.