43-001: IA 1120F Franchise Return for Financial Institutions 43-001 (2025)
Iowa · Iowa DOR · Used for tax years 2025
The 2025 IA 1120F is Iowa’s franchise tax return for financial institutions. It reports income, Iowa adjustments and apportionment, franchise tax, credits, and payments to calculate the amount due or refund requested.
Who files this form
The 2025 IA 1120F is Iowa’s Franchise Return for Financial Institutions. The form provides filing-status options for separate and combined Iowa returns, but does not state detailed rules for who must file.
What you'll need
- A complete copy of your federal return, as filed with the Internal Revenue Service. This must be filed with the Iowa return.
- Your legal name, address, FEIN, NAICS code, tax period, and filing-status information.
- Prior-return information, including the name, FEIN, and net income, plus your accounting method and the year business started in Iowa.
- Payment records for Schedule C, including estimated payments, any credit from the prior period, and voucher payments. Include a statement for other payments.
For the entries that apply to your return, the form also calls for:
- IA Franchise Schedule 59F for the Iowa business activity ratio.
- IA 124 for an Iowa net operating loss carryforward.
- IA 148 for credits and Schedule CC for composite and PTET credits.
- IA 2220 for an estimated-tax underpayment penalty.
- IA 4562A and IA 4562B for the Schedule A depreciation adjustment.
How to file
You may e-file or mail the return. The printed mailing address is:
Franchise Tax Processing
Iowa Department of Revenue
PO Box 10413
Des Moines IA 50306-0413
Include a complete copy of your federal return as filed with the IRS. Sign the return by hand or with a digital signature that has a digital certificate. Stamped or typed signatures are not accepted.
Pay electronically or submit payment with the Iowa Tax Payment Voucher (96-048).
Common mistakes
- Leaving out the federal return. A complete copy, as filed with the IRS, must accompany this return.
- Using a typed or stamped signature. The form requires a handwritten signature or a digital signature with a digital certificate.
- Omitting required supporting forms. The form says to include IA 148 for credits, Schedule CC for composite and PTET credits, and IA 2220 for an estimated-tax underpayment penalty.
- Omitting IA 4562A and IA 4562B for a depreciation adjustment, or the statement required for other payments on Schedule C.
Questions people ask
What tax rate does the 2025 form use?
Line 11 directs you to multiply the Iowa net income subject to franchise tax on line 10 by 4.1% (.041).
Do I need to attach my federal return?
Yes. A complete copy of your federal return, as filed with the IRS, must be filed with this return.
Can I apply an overpayment to the next period?
The form provides line 24 for a credit to the next period’s estimated tax. Line 25 calculates the refund requested by subtracting line 24 from line 23.
Can someone else discuss this return with the Department?
The form has a Third Party Disclosure Designee section where you can identify an individual you want to allow to discuss the return with the Department.
What signatures are accepted?
The return must be signed by hand or with a digital signature that has a digital certificate. Stamped or typed signatures are not accepted.