Deadline Extended for Filing Partnership Return in Puerto Rico to April 15, 2021
March 12, 2021
ADMINISTRATIVE DETERMINATION NO. 03-21 ("DA 21-03")
ATTENTION: PASSTHROUGH ENTITIES AND OTHER TAXPAYERS WITH
EXPIRATION OF THE INCOME TAX RETURN
OF THE TAX YEAR 2020 ON MARCH 15, 2021
AFFAIR:
POSTPONEMENT OF THE DEADLINE TO FILE THE FORM OF
TAX ON INCOME FOR THE TAX YEAR 2020
I. Statement of Motives
Section 1061.16 (f) of the Puerto Rico Internal Revenue Code of 2011, according to
amended ("Code"), empowers the Secretary of the Treasury ("Secretary") to establish the new
deadline for filing returns related to taxable year 2020. Likewise,
Section 1061.17 (h) of the Code, empowers the Secretary to establish the new deadline
for the payment of taxes on income owed with the tax returns
on income for taxable year 2020.
Limited liability companies and companies with the choice to pay taxes as
company under Chapter 7 of Subtitle A of the Code (hereinafter "companies"), the
special partnerships, corporations of individuals, (collectively "Pass-Through Entities");
revocable trusts, and trusts that revert to the settlor (known in
English as “grantor trusts”), and worker-owned corporations are required
to submit the Income Information Sheet no later than the fifteenth (15th) day of the
third (3rd) month following the closing of the annual accounting period. In addition, said
entities must submit to the Department, no later than the last day of the third (3rd) month
following the end of the entity's taxable year, the informative returns in which
The distributable share of income, expenses, gains, losses and
credits to partners, shareholders, owners, settlors or beneficiaries of said
entities ("Informative Returns").
The team of programmers is working hard on all the programming
for the tax cycle 2020 within the limitations that the pandemic of the
COVID-19 for both the private sector and the government. In addition, the Department already
is working on the programming of the next economic stimulus package
so that as soon as it becomes law, the money can be sent to the
residents of Puerto Rico as soon as possible.
The Department of the Treasury ("Department") issues an Administrative Determination
in accordance with the provisions of Sections 1061.16 (f) and 1061.17 (h) of the Code, with the
purpose of notifying the new deadline for filing the Information Sheets of
Income and Informative Returns of those taxpayers whose period-end
annual accounting is December 31, 2020 (that is, taxpayers who file
your return based on a calendar year) and its original expiration date according to the Code is the
March 15, 2021.
II. Statutory Basis
Section 1061.16 (f) of the Code empowers the Secretary to establish the new deadline for
the filing of returns related to taxable year 2020, whose expiration dates according to
the Code, whether on or before April 15, 2021, as long as said new date
limit is no later than June 15, 2021. Likewise, Section 1061.17 (h) of the Code
empowers the Secretary to establish the new deadline for the payment of any contribution
on income for taxable year 2020, whose due dates are on or before the 15th of
April 2021.
The Secretary, exercising the power conferred by law, has determined to establish a new
expiration date for the Income Information Sheets of those taxpayers
that, according to the provisions of Subchapter A of Chapter 6 of Subtitle A of the Code, have
the obligation to submit said forms no later than March 15, 2021.
III. Determination
All taxpayers who file their income tax return based on the year
natural 2020 and that, according to the provisions of Subchapter A of Chapter 6 of Subtitle A of the
Code, you have the obligation to submit said return no later than March 15, 2021,
You will have until April 15, 2021 to file it. Similarly, any balance
owed with said income tax return must be paid no later
April 15, 2021.
In addition, April 15, 2021 is established as the new deadline for filing the
Informative Returns of all those taxpayers who file their Informative Return of
Income for taxable year 2020 based on the calendar year and, therefore, is obliged to
Submit Informative Returns for taxable year 2020 on or before December 31,
March 2020.
The provisions of this circular letter will also apply to those conduit entities
who are required to file the Income Information Return for taxable year 2020 on or before March 15, 2021 and the 2020 Informative Returns no more
afternoon of March 31, 2021, including extensions.
The new deadline established in this Administrative Determination is in substitution of
the original expiration date provided by the Code for tax year 2020. By
Therefore, any entity that requires additional time to submit the return for the taxable year
2020 will have until April 15, 2021 to submit an automatic extension request.
Said extension request will have a term of 6 months as of April 15, 2021. The
request for extension allows to extend the filing deadline date, but does not extend the
Payment date. Therefore, if you accept the request for an extension, you must accompany
with the application the balance of the tax owed, if any, to avoid taxation
of interests, surcharges and penalties.
IV. Validity
The provisions of this Administrative Determination are effective immediately.
For additional information related to the provisions of this Determination
Administrative, you can send a message through your SURI account.
Cordially,
Atty. Angel L. Pantoja Rodríguez