4910: UBG Combined Filing Schedule for Financial Institutions (2024)
Michigan · Michigan Treasury · Used for tax years 2024
Michigan Form 4910 is a combined filing schedule for financial institutions in a unitary business group (UBG). It reports group members, gross business apportionment data, member franchise tax base information and payments, and entities excluded from the combined return or UBG.
Who files this form
Financial institution members of a Unitary Business Group (UBG) use Form 4910 to support their combined Michigan Corporate Income Tax return, Form 4908. Form 4910 is required even if the UBG has only one financial institution member.
The group's Designated Member (DM) files on behalf of the financial institution members. The DM must be a financial institution member with Michigan nexus. If the controlling financial institution member has Michigan nexus, it must serve as DM.
An entity not commonly considered a financial institution may qualify if it is owned by a financial institution and belongs to the same UBG. Insurance company members file separately and are listed as excluded affiliates in Part 3.
What you'll need
Have these records available to complete the schedule:
- Member names, FEINs, addresses, federal tax periods, organization types and six-digit NAICS codes.
- Membership dates for part-year members and information about Michigan nexus.
- The top-tier parent’s FFIEC report and member financial data, including gross business, applicable obligations and insurance subsidiary capital amounts.
- Records of prior overpayment credits, estimated payments, extension payments and Michigan tax withheld or flow-through entity tax credits.
- The prior combined return to identify members no longer included.
Attach these documents when applicable:
- Federal return pages: For members filing separate federal returns, attach the pages required under the “Attachments” section of the Form 4908 instructions.
- Pro forma federal returns and schedules: Members also included in a federal consolidated group prepare their Form 4910 data using a pro forma federal return. Attach the applicable forms and schedules identified in the Form 4908 instructions.
- Federal Form 851: Attach a copy if an entity listed in Part 3 is part of a federal consolidated group.
- Flow-through entity credit support: Include Schedule K-1 with its notes, or other supporting documentation received from the electing flow-through entity.
How to file
Complete Form 4910 before completing the group’s Form 4908 and related forms. Include the completed Form 4910 as part of the tax return filing. It is a supporting schedule, not the primary return.
- List the members included in the combined return in Part 1, beginning with the Designated Member.
- Complete a separate Part 2B for each financial institution member. If a non-DM member has multiple federal tax periods ending with or within the group’s filing period, use a separate Part 2B for each period.
- Complete the group’s apportionment data in Part 2A.
- Use Parts 3, 4 and 5 to identify excluded affiliates, former members and nonmembers included in the FFIEC report, as applicable.
The supplied text does not provide a mailing address or e-file directions for Form 4910.
Common mistakes
- Treating Form 4910 as the main return. It supports Form 4908 and is required even when the UBG has only one financial institution member.
- Completing group gross business totals too soon. Complete lines 20 and 21 for each member before completing group lines 2 and 3.
- Omitting or mishandling extra pages. Repeat the DM’s name and FEIN at the top of additional Part 1 pages, but do not repeat the DM on line 1. Repeat the same Part 2A totals on every copy.
- Leaving out gross business because a member lacks Michigan nexus. Michigan gross business includes every financial institution in the UBG, regardless of nexus. Eliminate gross business between financial institution members of the group.
- Using line 9 merely because a member stopped doing business in Michigan. Do not use this line if the member continues to exist.
- Having another member request the group’s extension. Only the DM can request a valid UBG filing extension.
- Using exclusion reason code 1 after an Affiliated Group Election. That code does not apply to groups that made the election.
Questions people ask
Does a UBG with only one financial institution need Form 4910?
Yes. That member must file Form 4910 in support of Form 4908 and list excluded members using the applicable reason codes.
Which tax year does the combined return use?
The combined return uses the Designated Member’s tax year. It includes each member tax year that ends with or within the DM’s tax year.
What happens to a prior overpayment credit when membership changes?
The credit carried forward from the prior return remains with the Designated Member’s account.
Where do I list a company included in the FFIEC report that is not a UBG member?
List it in Part 5 if its equity is included in the top-tier parent’s FFIEC report but it does not meet the control or relationship test required for UBG membership.
How is a federally disregarded entity reported?
It is also disregarded for Michigan CIT purposes. Its activity is reported by its owner as though the owner conducted that activity directly.