1120-ND Return for Nuclear Decommissioning Funds and Certain Rel

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TREASURY/IRS AND OMB USE ONLY DRAFT
Form

1120-ND

Return for Nuclear Decommissioning Funds and
Certain Related Persons

(Rev. December 2025)
Department of the Treasury
Internal Revenue Service
For calendar year 20
Name of fund

OMB No. 1545-0954

Go to www.irs.gov/Form1120ND for instructions and the latest information.
, or fiscal year beginning

, 20

, and ending

, 20
A

Employer identification number of fund
(see instructions)

B

Identifying number of trustee or
disqualified person (see instructions)

Name of trustee or disqualified person (complete if filing to report section 4951 taxes)
Address of filer. Number and street. If a P.O. box, see instructions.
City or town

Room or suite no.

State or province

Country

D Check applicable boxes:

(1)

Final return

(2)

Fund

Trustee
(3)

Name change

E The books and records are in care of:
Located at:

Disqualified person

Address change

(4)

Amended return

Phone no.

Tax and Payments

Deductions

Income

Part I—Computation of Fund Income Tax
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13a
b
14
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f
z
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Sign
Here

Taxable interest . . . . . . . . . . . . . . . . . . . . . . . . . . .
Capital gain net income (attach Schedule D (Form 1120)) . . . . . . . . . . . . . .
Other income (attach schedule) . . . . . . . . . . . . . . . . . . . . . .
Gross income. Add lines 1 through 3 . . . . . . . . . . . . . . . . . . . .
Trustees fees . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accounting and legal services . . . . . . . . . . . . . . . . . . . . . . .
Other deductions (attach schedule) . . . . . . . . . . . . . . . . . . . . .
Total deductions. Add lines 5 through 8 . . . . . . . . . . . . . . . . . . .
Modified gross income before net operating loss deduction. Subtract line 9 from line 4 . . . .
Net operating loss deduction (see instructions) . . . . . . . . . . . . . . . . .
Modified gross income. Subtract line 11 from line 10 . . . . . . . . . . . . . . .
Total tax. Multiply line 12 by 20% (0.20) . . . . . . . . . . . . . . . . . . .
First installment of section 1062 applicable net tax liability. Enter amount from Form 1062, line 15 .
Payments:
Overpayment from prior year allowed as a credit .
14a
Current-year estimated tax payments . . . . .
14b
)
Refund applied for on Form 4466 . . . . . .
14c (
Subtract line 14c from the total of lines 14a and 14b . . . . . . .
14d
Tax deposited with Form 7004
. . . . . . . . . . . . . .
14e
Section 1062 applicable net tax liability. Enter amount from Form 1062, line
14 . . . . . . . . . . . . . . . . . . . . . . . .
14f
Total. Add lines 14d, 14e, and 14f . . . . . . . . . . . . . . . . . . . . .
Estimated tax penalty. Check if Form 2220 is attached
. . . . . . . . . . . . .
Tax due. If line 14z is smaller than the total of lines 13a, 13b, and 15, enter amount owed . . .
Overpayment. If line 14z is larger than the total of lines 13a, 13b, and 15, enter amount overpaid
Enter amount of line 17 you want: a Credited to next year’s estimated tax
b Refunded
c Routing number
d Type:
Checking
Savings
e Account number

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13b

14z
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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.

Signature of officer

Paid
Preparer
Use Only

Preparer’s name

Date

Title

Preparer’s signature

Date

Firm’s name

Check
if
self-employed

PTIN

Firm’s EIN

Firm’s address

For Paperwork Reduction Act Notice, see separate instructions.

May the IRS discuss this return with
the preparer shown below? See
instructions.
Yes
No

Phone no.

Cat. No. 11507K

Form 1120-ND (Rev. 12-2025) Created 10/9/25

DRAFT — DO NOT FILE

DRAFT — DO NOT FILE

C Return filed for (see Specific Instructions; check applicable box):

ZIP or foreign postal code

TREASURY/IRS AND OMB USE ONLY DRAFT
Page 2

Form 1120-ND (Rev. 12-2025)

Schedule L

Balance Sheets

Assets
Cash . . . . . . . . . . . . . . .
Certificates of deposit . . . . . . . . . .
U.S. government obligations . . . . . . .
State and local government obligations . . . .
Other assets (attach schedule) . . . . . . .
Total assets. Add lines 1 through 5 . . . . .
Liabilities and Fund Balance
Liabilities . . . . . . . . . . . . . .
Fund balance . . . . . . . . . . . .
Total liabilities and fund balance. Add lines 7 and 8

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Schedule M

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(b) End of year

Other Information

Yes No

1a
b
2a
b
c
d
3
4

Enter name of the electing taxpayer
Enter the employer identification number of the electing taxpayer
Enter the amount of contributions the fund received during the year under section 468A(a)
$
$
Enter the ruling amount for the tax year under section 468A(d)(2)
. . . . . . . .
Enter the amount of distributions includible in income by the electing taxpayer under section 468A(c)(1)
$
Enter the amount of tax-exempt interest received or accrued for the year . . . . . .
$
During the year, were any contributions received other than cash payments deductible by the electing taxpayer under section 468A?
During the year, were fund assets used for any purpose other than paying the fund’s administrative or incidental
expenses (including taxes), for making investments, or for direct or indirect payment of decommissioning costs of
a nuclear power plant owned or leased by the electing taxpayer? If “Yes,” attach an explanation . . . . . .

5

Self-dealing (see instructions):
Has the fund engaged in any of the following acts during the year, either directly or indirectly, with one or more
disqualified persons?

a

(i) Sale, exchange, or leasing of property . . . . . . . . . . . . . . . . . . . . . . .
(ii) Borrowing or lending of money or other extension of credit . . . . . . . . . . . . . . . . .
(iii) Furnishing of goods, services, or facilities . . . . . . . . . . . . . . . . . . . . . .
(iv) Payment of compensation (or payment or reimbursement of expenses)
. . . . . . . . . . . .
(v) Transfer to, or use by or for the benefit of, a disqualified person of any part of the fund’s income or assets .
b If any of lines 5a(i) through 5a(v) are answered “Yes,” were all of the acts self-dealing exceptions? See instructions
c If the answer to line 5b is “No,” attach a schedule listing the act; the date of the act; and the name, address, and
identifying number of each trustee and/or disqualified person who engaged in the act.
d Has any self-dealer or trustee taken any action to “correct” any act of self-dealing? See instructions for the
definition of “correct” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If “Yes,” attach complete details of the corrective action. Also explain any uncorrected acts.

Part II—Initial Taxes on Self-Dealing (Section 4951)
Section A—Acts of Self-Dealing and Tax Computation
(a) Act number

(b) Date of act

(c) Description of act

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(d) Names of disqualified persons liable for tax

(f) Amount involved in act

Total .

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(e) Names of trustees liable for tax

(h) Tax on trustee (if applicable) (21/2% of column (f))

(g) Initial tax on self-dealing disqualified person (10% of column (f))

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Section B—Summary of Initial Taxes
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Enter section 4951 tax on disqualified person (Section A, column (g)) . . . .
Enter section 4951 tax on trustee (Section A, column (h)) . . . . . . . .
Total section 4951 taxes (add lines 1 and 2) . . . . . . . . . . . .
Tax paid with Form 7004 . . . . . . . . . . . . . . . . . . .
Tax due. Enter the excess, if any, of line 3 over line 4. (Do not enter this amount
with return. (Make check or money order payable to “United States Treasury.”) .

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Part I.) Pay
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Overpayment. Enter the excess, if any, of line 4 over line 3

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Form 1120-ND (Rev. 12-2025)

DRAFT — DO NOT FILE

DRAFT — DO NOT FILE

(a) Beginning of year