569: 2024 Form 569 Reporting Form for the Transfer or Allocation of a Tax Credit (2024)
Oklahoma · Oklahoma Tax Commission · Used for tax years 2024
Oklahoma Form 569 reports the transfer or allocation of a tax credit. It identifies the credit, the person or entity transferring or allocating it, and the recipients and amounts transferred or allocated.
Who files this form
Use Form 569 to report an Oklahoma tax credit authorized under Title 68 that was transferred or allocated on or after July 1, 2011.
The form covers:
- The person or entity that originally generated the credit and transfers or allocates it.
- A person or entity that received a transferred or allocated credit and then transfers or allocates any portion to someone else.
Transferors complete Part 3. Pass-through entities that allocate credits complete Part 4.
When it's due
For tax year 2024, the printed filing rule requires Form 569 to be filed with the Oklahoma Tax Commission on or before the 20th day of the second month after the tax year in which an act occurs that allows the credit to eventually be claimed.
What you'll need
Have the following information ready:
- Your name or entity name, address, phone number, FEIN or SSN, entity type and tax year.
- If you received the credit from someone else and are passing it on, that person's or entity's name and FEIN or SSN.
- The credit's name and line number from page 4, plus the amount transferred or allocated.
- For transfers: each recipient's name, identification number, transfer date and credit amount.
- For allocations: each shareholder's, partner's or member's name, identification number and allocated amount, plus whether the recipient is a pass-through entity.
If you need more rows, attach a supplemental schedule in the same format as Part 3 or Part 4.
How to file
- Complete Part 1 with your general information and select whether you originally generated the credit or received it before passing it on.
- Complete Part 2 using the credit list on page 4. The amount must equal the combined totals reported in Parts 3 and 4.
- Complete Part 3 for transfers and Part 4 for allocations. Carry supplemental schedule totals to Part 3, line 9, or Part 4, line 33.
- Sign and date the report.
Electronic filing: The form may be filed electronically. Visit tax.ok.gov to access it.
Mail filing: Send the form, including any supplemental schedules, to:
Oklahoma Tax Commission
PO Box 26800
Oklahoma City, OK 73126-0800
Common mistakes
- Claiming a credit before reporting it on Form 569. The form warns that an unreported credit claimed on a state tax return will be disallowed. It will be allowed upon filing the required Form(s) 569.
- Submitting only the changes on an amended report. An amended Form 569 replaces the original report entirely. Mark the Amended Report box with an “X” and complete the whole form, not just supplemental information.
- Entering an amount in Part 2 that does not match Parts 3 and 4. Part 2 must equal the total credit transferred and allocated in those parts.
Questions people ask
Which tax year should I enter?
If you originally generated the credit, enter the year it was generated. If you received the credit and then transferred or allocated some of it, enter the year it was transferred or allocated to you.
Where do I find the credit name and line number?
Use the list on page 4. Enter the credit name and its corresponding line number in Part 2.
What if I run out of space for recipients?
Attach a supplemental schedule using the same format as the relevant part. Carry its total to Part 3, line 9, for transfers or Part 4, line 33, for allocations.
What if an allocation recipient is also a pass-through entity?
Place an “X” in the PTE column in Part 4 for that shareholder, partner or member.
Can the Oklahoma Tax Commission discuss this report with my preparer?
Yes. Check the box on the form authorizing the Commission to discuss the report with your tax preparer.