A new, mandatory reporting requirement from the IRS became effective Jan. 1, requiring any entity with an employer identification number (EIN) to report the latest change to its responsible party.
Form 8822-B, "Change of Address or Responsible Party — Business," must be filed within 60 days of any change in a responsible party, business mailing address or business location. If an entity experiences a change in responsible party before the beginning of 2014, it must file Form 8822-B before March 1. Filing the form is mandatory, but there is not yet any specific penalty for noncompliance.
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