RI-1120F: Business Corporation Supplemental Schedule (2025)
Rhode Island · RI Division of Taxation · Used for tax years 2025
Form RI-1120F is Rhode Island’s Business Corporation Supplemental Schedule for qualifying investment companies, regulated investment companies, non-captive real estate investment trusts and personal holding companies. It reports company status, income adjustments, apportionment a
Who files this form
Form RI-1120F is only for corporations that deal in securities on their own behalf and qualify as investment companies, regulated investment companies, non-captive real estate investment trusts (REITs), or personal holding companies under Rhode Island General Laws 44-11-2.
For the investment company section, the corporation must answer “Yes” to both questions:
- Did it buy, sell, deal in, or hold securities on its own behalf, rather than as a broker, underwriter, or distributor?
- Did those activities produce at least 90% of its total gross receipts for the taxable year?
Captive REITs instead file Form RI-1120C and calculate Rhode Island tax as a corporation using that form.
What you'll need
- Form RI-1120C: The supplemental schedule requires information from this return, including the apportionment ratio from Schedule H, line 2.
- Applicable federal return: Form 1120, 1120-RIC, or 1120-REIT supplies income figures. The schedule also calls for information from Schedule M-1 and, where applicable, Form 1120 Schedule D.
- Annual reports: The regulated investment company section requires the annual report to stockholders for the period covered by the return, plus other reports issued during that period. The non-captive REIT section requires the annual report to shareholders for the same period.
- Company details: Have the corporation’s name, federal employer identification number, and year-ending information ready. The regulated investment company section also asks for the securities registration number and registration date.
How to file
File Form RI-1120F with a Business Corporation Tax Return, Form RI-1120C. Complete the section that applies to the corporation and include the required reports.
Enter the tax due from RI-1120F on Form RI-1120C, page 2, line 13. Check the RI-1120F box on page 1, to the left of the header.
Common mistakes
- Reporting as a regulated investment company without full-period coverage: The form warns that if the certificate issued under the Act did not cover the entire period, the taxpayer cannot report as a regulated investment company.
- Using RI-1120F for a captive REIT: The form directs captive REITs to calculate tax as a corporation using Form RI-1120C.
- Overlooking the non-captive REIT filing requirement: If all four questions in that section are answered “Yes,” the form requires a return for the fiscal period reported to the IRS, with the annual report to shareholders and Form RI-1120C.
Questions people ask
Can I file RI-1120F by itself?
No. The form says a Business Corporation Tax Return, Form RI-1120C, must be filed with the supplemental schedule.
What minimum tax is printed on the 2025 form?
Both tax calculation sections show a $400 minimum tax. Each directs the corporation to use the greater of the calculated tax or the minimum tax.
Where do I get the apportionment ratio?
Use Form RI-1120C, Schedule H, line 2. RI-1120F calls for the ratio to be calculated to six decimal places.
Can a captive REIT use the non-captive REIT section?
No. The form directs captive REITs to file Form RI-1120C and calculate Rhode Island tax as a corporation using that form.