572: 2025 Form 572 Transfer Agreement for Income Tax, Rural Electric Cooperatives Tax, or Insurance Premium Tax Credit (2025)
Oklahoma · Oklahoma Tax Commission · Used for tax years 2025
Oklahoma Form 572 documents an agreement to transfer or assign tax credits for qualified rehabilitation expenditures, railroad modernization, or Strategic Industrial Development Enhancement (SIDE) projects. It identifies both parties, the credit amount, and the tax years when the
Who files this form
Any taxpayer transferring or assigning a transferable/assignable tax credit must jointly file Form 572 with the recipient. The form calls the person transferring the credit the transferor and the recipient the transferee.
Form 572 lists these credits:
- Qualified Rehabilitation Expenditures
- Strategic Industrial Development Enhancement (SIDE) Projects
- Railroad Modernization
The transferor files the jointly signed agreement with the Oklahoma Tax Commission (OTC) on behalf of both parties. The recipient must also attach a copy to any tax return on which it claims the credit.
When it's due
For the 2025 Form 572, the jointly signed agreement must be filed with the OTC within 30 days of the transfer or assignment.
The recipient must attach a copy to the tax return on which it claims the credit. The form does not print a calendar due date for that return.
What you'll need
Have these documents and details ready:
- A copy of the original OTC acknowledgment of credits issued to the transferor.
- A copy of the earlier transfer agreement or assignment, if the current transferor obtained the credits through a prior transfer.
- Both parties' names, addresses, and Federal Employer Identification Numbers or Social Security numbers.
- The credit type, amount transferred, and transfer or assignment date.
- The tax year or years the credits were originally allowed and the tax year or years they may be claimed.
- Both parties' signatures and company information.
How to file
- Select the credit type and enter the transfer details and both parties' information.
- Include the original OTC acknowledgment and any required prior transfer agreement.
- Have both parties sign the agreement.
- The transferor must file a copy with the OTC on behalf of both parties within 30 days of the transfer or assignment.
The certificate of mailing provides for first class U.S. Mail with postage fully prepaid to:
Oklahoma Tax Commission
Oklahoma City, OK 73194
Complete the certificate with the mailing date. The recipient must also attach a copy of Form 572 to any tax return on which it claims the transferred credit.
Common mistakes
- Claiming a Railroad Modernization credit before reporting it on Form 569. The warning in that credit's section says the credit will be disallowed and will only be allowed after Form 569 is filed.
- Using Form 572 for Venture Capital Credits transferred under 68 OS Sec. 2357.7. The form notes that these transfers are reported on Form 518-B.
Questions people ask
Can the transferor have already claimed the credits being transferred?
No. By signing, the transferor represents that it has neither claimed those credits for itself nor conveyed them to another recipient.
What if the recipient later transfers the credits again?
The recipient agrees to execute and file a similar agreement if it subsequently transfers or assigns the credits.
Who can receive an assignment of unused SIDE credits?
Unused SIDE credits may be assigned to a qualifying project affiliate by written agreement during the five years following the tax year the qualified expenditure occurred.
How long can Qualified Rehabilitation Expenditures credits be transferred?
These credits may be transferred at any time during the five years following the year of qualification.