Form 7004: Business Tax Extension

Who Can File Form 7004?

Most businesses can use Form 7004 to request an extension of time to file various tax returns. This may include:

• C Corporations: Corporations are taxed separately from their owners and are subject to double taxation. They are required to file Form 1120 to report income, deductions, and tax liability. Form 7004 provides a six-month extension to file this return.
• S Corporations: A special type of corporation that allows income, losses, deductions, and credits to pass through to shareholders for tax purposes. They are required to file Form 1120-S and can use Form 7004 to request an extension, though this does not extend the deadline for issuing Schedule K-1s to shareholders.
• Partnerships: Businesses owned by two or more individuals that share profits and losses. Partnerships file Form 1065. Form 7004 extends the 1065 filing deadline but does not extend the deadline for providing Schedule K-1s to partners.
• LLCs: Multi-member LLCs and single-member LLCs taxed as corporations must file the applicable return—Form 1120, 1120-S, or 1065—based on their tax classification. If taxed as a corporation or partnership, the LLC may use Form 7004 to request an extension.
• Certain estates and trusts: Estates and trusts required to file Form 1041 may also request additional time to file by submitting Form 7004.

Which Business Tax Return Deadlines Does the Form 7004 Extend?

Form 7004 requests an automatic extension of time to file various business income tax, information, and other returns. Here are the key forms that can be extended using Form 7004:

• Form 706-GS (D), Generation-Skipping Transfer Tax Return for Distributions
• Form 706-GS (T), Generation-Skipping Transfer Tax Return for Terminations
• Form 1041, U.S. Income Tax Return for Estates and Trusts
• Form 1041-N, U.S. Income Tax Return for Electing Alaska Native Settlement Trusts
• Form 1041-QFT, U.S. Income Tax Return for Qualified Funeral Trusts
• Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons
• Form 1065, U.S. Return of Partnership Income
• Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return
• Form 1120, U.S. Corporation Income Tax Return
• Form 1120-C, U.S. Income Tax Return for Cooperative Associations
• Form 1120-F, U.S. Income Tax Return of a Foreign Corporation
• Form 1120-FSC, U.S. Income Tax Return of a Foreign Sales Corporation
• Form 1120-H, U.S. Income Tax Return for Homeowners Associations
• Form 1120-L, U.S. Life Insurance Company Income Tax Return
• Form 1120-ND, Return for Nuclear Decommissioning Funds and Certain Related Persons
• Form 1120-PC, U.S. Property and Casualty Insurance Company Income Tax Return
• Form 1120-POL, U.S. Income Tax Return for Certain Political Organizations
• Form 1120-REIT, U.S. Income Tax Return for Real Estate Investment Trusts
• Form 1120-RIC, U.S. Income Tax Return for Regulated Investment Companies
• Form 1120S, U.S. Income Tax Return for an S Corporation
• Form 1120-SF, U.S. Income Tax Return for Settlement Funds (Under Section 468B)
• Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner
• Form 8612, Return of Excise Tax on Undistributed Income of Real Estate Investment Trusts
• Form 8613, Return of Excise Tax on Undistributed Income of Regulated Investment Companies
• Form 8725, Excise Tax on Greenmail
• Form 8804, Annual Return for Partnership Withholding Tax (Section 1446)
• Form 8831, Excise Taxes on Excess Inclusions of REMIC Residual Interests
• Form 8876, Excise Tax on Structured Settlement Factoring Transactions
• Form 8924, Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests
• Form 8928, Return of Certain Excise Taxes Under Chapter 43 of the Internal Revenue Code
• Form 708, United States Return of Tax for Gifts and Bequests Received From Covered Expatriates

What Information is Required to File Form 7004?

To file Form 7004, you must provide key details about your business or entity. Here’s what you’ll need:

• Legal Name: Enter the exact name of the business or entity as registered with the IRS.
• Mailing Address: Provide the current address where correspondence should be sent.
• Employer Identification Number (EIN): Include the EIN assigned to the business or entity.
• Form Code: Indicate the code for the tax return you’re requesting an extension for, as listed in the IRS instructions.
• Tax Year: Specify whether the entity follows a calendar year or a fiscal year, and enter the beginning and ending dates if using a fiscal year.

Are there any changes to Form 7004 for the 2025 Tax Year?

Yes. The IRS has released the final instructions for Form 7004 for 2025. The new Form 708 can now be included when requesting an extension using Form 7004. To request an extension for Forms 708, 8924, and 8928, a paper Form 7004 must be filed. Electronic filing for these forms will be available starting in the 2026 tax year.

When is the Due Date to File Form 7004?

• The deadline to Form 7004 deadline is the same as the original due date of the business tax return for which you are requesting an extension.
• If the due date falls on a Saturday, Sunday, or federal holiday, the deadline moves to the next business day.
• For example, businesses filing Form 1065 or Form 1120-S for the current tax year must submit Form 7004 by March 16, 2026, to receive an automatic extension.

Click here to learn more about the deadline for the specific extension forms.

What are the Penalties for Late Filing of Form 7004?

The penalties for late filing of Form 7004 can vary depending on whether the issue is related to late filing or late payment of taxes.

• Late filing penalties: Generally, a penalty will be imposed if you file the return after the due date, including extensions, and you can’t demonstrate reasonable cause.
• Late Payment Penalty: If you don’t pay your tax due by the deadline, a penalty of 0.5% per month or part of a month on the unpaid tax amount is charged. This penalty can accumulate up to a maximum of 25% of the unpaid tax. However, if you can show reasonable cause for the delay in payment, this penalty may be waived.

How to File Form 7004?

You can file your extension Form 7004 either by paper or electronically. However, the IRS recommends e-filing for a faster and more efficient process. If you opt to file on paper, you must complete the form with all the required information and mail it to the appropriate IRS address.

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