Pre-Filing Registration for Elective Payment and Transfer Elections

Section 107(a) of the CHIPS Act of 2022 (CHIPS Act), enacted as Division A of Public Law 117–167, 136 Stat. 1366, 1393 (August 9, 2022), added section 48D to the Code to establish the advanced manufacturing investment credit (section 48D credit) as an investment credit for purposes of section 46 of the Code, which is a current year general business credit under section 38 of the Code. On August 16, 2022, section 6417 was added to the Internal Revenue Code (Code) by Public Law 117-169, title I, section 13801(a), 136 Stat. 1818, commonly referred to as the Inflation Reduction Act of 2022 (IRA). Section 6417 is effective for tax years beginning after December 31, 2022. Section 6418 of the Code was enacted by section 13801(b) of the IRA to permit eligible credits to be transferred from eligible taxpayers to an unrelated taxpayer. This temporary regulation prescribes the registration procedures of the IRS electronic registration portal. The temporary regulations will also cover a new return filing requirement for current non-filers (for example, state and local governments will have to a file a Form 990-T (1545-0047), to make the elective payment election).

The latest form for Pre-Filing Registration for Elective Payment and Transfer Elections expires 2026-09-30 and can be found here.

Advanced Manufacturing Investment Credit

Federal Enterprise Architecture: General Government - Taxation Management