DTF-686-ATT: New York Reportable Transaction Disclosure Statement and Request for a Determination (2024)
New York · NY DTF · Used for tax years 2024
Form DTF-686-ATT is New York’s Reportable Transaction Disclosure Statement and Request for a Determination. It reports details of a transaction, including its type, expected tax benefits, entities and individuals involved, and fees paid for promotion or tax advice.
What you'll need
Have the following information ready to complete the form:
- Your name as shown on your tax return, taxpayer identification number, mailing address, email address, and tax period. Include your spouse’s name and identification number if applicable for personal income tax.
- The transaction’s name, the initial year you participated, and its type: New York listed, confidential, or with contractual protection.
- If you participated through another entity, its name, entity type, New York State tax return form number, and employer identification number (EIN).
- Names and addresses of people you paid to promote, solicit, or recommend your participation, or to provide related tax advice. The form also asks for fees paid and identifying numbers, if known.
- Details of the expected tax benefits for all affected years, your investment, and your participation in the transaction and related transactions.
- Names, identifying numbers, addresses, and involvement of all tax-exempt, foreign, and related entities and individuals involved.
Common mistakes
- Leaving the tax period blank. The form says all filers must enter the beginning and ending dates of their tax period.
- Describing only the current year’s benefits. Line 6b asks for expected tax benefits for all affected years and participation in related transactions regardless of when they were entered into.
- Leaving identifying information off attachments. Line 7 directs you to include your name and identifying number on all attached sheets.
- Omitting foreign or related entity details. Line 7 asks for each foreign entity’s country of incorporation or existence and an explanation of how each related entity is related.
Questions people ask
How do I indicate a protective disclosure or request a determination?
Mark an X in box A for a protective disclosure. Mark an X in box B if requesting a determination.
What if I participated through a partnership or another entity?
Line 4 asks for the entity’s name, type, New York State tax return form number, and EIN. The form gives partnerships, S corporations, and foreign corporations as examples.
What tax benefit details does the form ask for?
In line 6a, mark all tax benefit types that apply. In line 6b, describe the amount and nature of expected benefits for all affected years, the relevant facts of each transaction step, and the amount and nature of your investment.
Can I attach additional sheets?
Yes. Lines 5 and 7 allow additional sheets if necessary. Line 7 also directs you to include your name and identifying number on all attached sheets.