Schedule UB/INS: Tax for a Unitary Business Group with Foreign Insurer Members (2025)
Illinois · Illinois DOR · Used for tax years 2025
Illinois Schedule UB/INS calculates tax for a unitary business group with foreign insurer members and is attached to Form IL-1120. It reports foreign insurer members’ income and tax calculations, the other members’ net income, and the group’s tax calculations.
Who files this form
Schedule UB/INS is for a unitary business group with foreign insurer members. It figures the group’s tax and the tax reductions reported on Form IL-1120.
The 2025 schedule applies to tax years ending on or after December 31, 2025. Attach it to Form IL-1120.
What you'll need
Have these forms and details ready:
- Form IL-1120 with Steps 1 through 7 completed.
- Schedule UB with all steps completed.
- The name shown on the tax return of the member filing Schedule UB, its federal employer identification number (FEIN), and each foreign insurer member’s FEIN.
- Each foreign insurer member’s state or country of domicile and the information needed to figure its pro forma tax there.
- Member-level income and sales amounts requested on the schedule.
- Each foreign insurer member’s taxable net premiums and the specified privilege, fire insurance company, and fire department taxes deducted when figuring federal taxable income.
How to file
Attach Schedule UB/INS to your Form IL-1120.
Before completing the schedule, finish Steps 1 through 7 of Form IL-1120 and all steps of Schedule UB. Enter the name shown on the tax return of the member filing Schedule UB and its FEIN.
After calculating the group’s tax reductions:
- Enter Schedule UB/INS, Line 60, on Form IL-1120, Step 8, Line 51.
- Enter Schedule UB/INS, Line 73, on Form IL-1120, Step 8, Line 54.
Common mistakes
- Starting before the other forms are ready. Complete Steps 1 through 7 of Form IL-1120 and all steps of Schedule UB first.
- Including retaliatory tax on Line 28a. The form specifically says not to include it.
- Leaving out required information. The form warns that failure to provide required information could result in a penalty.
- Missing the carryover to Page 3. Enter the amounts from Page 2, Line 38, on Page 3, Line 39.
Questions people ask
What if a foreign insurer member’s state or country of domicile does not impose an income tax on insurance companies?
Check the box on Line 25 and enter zero on that line.
How many decimal places should I use for the apportionment factors?
Round the foreign insurer member’s apportionment factor on Line 2c and the other members’ apportionment factor on Line 46 to six decimal places.
What if the share of Illinois base income or loss is negative?
For Lines 8 and 52, the form says to enter zero if the calculated share is negative.
Where do the group’s tax reductions go on Form IL-1120?
Report the replacement tax reduction from Schedule UB/INS, Line 60, on Form IL-1120, Step 8, Line 51. Report the income tax reduction from Schedule UB/INS, Line 73, on Form IL-1120, Step 8, Line 54.