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Official form guide
Form 8924: Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests
IRS Form 8924 is used to report and pay the excise tax on certain transfers of qualifying mineral or geothermal interests. Eligible entities must file it for each qualifying transfer, and it is due within 90 days of the transfer.
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IRS Form 8924 - Excise Tax on Certain Transfers of Qualifying Geothermal or Mineral Interests
IRS Form 8924 is used to report and pay the excise tax on certain transfers of qualifying mineral or geothermal interests. Eligible entities must file it for each qualifying transfer, and it is due within 90 days of the transfer.
Risk Radar
Scan points- 1Missing the 90‑day filing deadline triggers a 5% per month penalty up to 25%.
- 2Missing the 90‑day filing deadline, which triggers a 5% per month penalty up to 25%.
- 3Failing to pay the excise tax when due, resulting in a penalty of half of 1% of the unpaid amount each month.
- 4Leaving the signature line blank, which invalidates the return under penalty of perjury.
- 5Not rounding monetary amounts to whole dollars, contrary to the rounding instructions.
Plain English
Form 8924 tells the IRS how much excise tax you owe when you sell, exchange, or lease a qualifying mineral or geothermal interest. You fill in your entity’s name, address, account number, and the tax amount. The form must be signed and mailed to the IRS. If you miss the deadline, penalties apply.
Submission Date
- Filing date: 2026-01-07 15:10:55
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when an eligible entity transfers ownership or possession of a qualifying mineral or geothermal interest and must report and pay the excise tax.
- Do not use it when the transfer is exempt because the transferee provides a qualifying letter of intent or the tax has already been paid on the same interest.
- Check Form 7004 instead when you need an automatic extension of time to file Form 8924.
Form selector
Use this form or another form?
Need more time to file
Provides an automatic filing extension but does not extend payment deadline
✓ Verify the original 90‑day filing deadline before filing Form 7004
Preparing the return as a paid preparer
Required to obtain a PTIN for paid preparers filing Form 8924
✓ Confirm PTIN is active before completing Form 8924
Reporting the excise tax and providing refund info
Contains lines 11b‑11d for direct deposit of any overpayment
✓ Ensure lines 11b‑11d are completed accurately for refunds
Deadline or filing window
The filing deadline is triggered by a taxable transfer of a qualifying interest. Form 8924 must be filed within 90 days after that transfer. If additional time to file is required, a taxpayer may file Form 7004 for an automatic extension, but the extension does not apply to payment of the tax.
Checklist
What you need before filling it out
Line 10 (balance due)
Payment amount · Form 8924 calculation section
Lines 11b‑11d (direct deposit)
Bank routing, account number, account type · Direct deposit section of Form 8924
Signature block
Authorized signer’s signature · Signature area on Form 8924
Qualifying letter of intent
Letter of intent document · Transfer documentation
Tax calculation lines
Excise tax computation · Form 8924 lines 1‑9
Before you submit
- 1Confirm the transfer date and that filing occurs within 90 days of the taxable transfer.
- 2Verify the excise tax amount calculated on the form.
- 3Enter any balance due on line 10 if applicable.
- 4Provide direct deposit information on lines 11b, 11c, and 11d for refunds.
- 5Include the entity’s EIN in the designated field.
- 6Sign the form as required.
- 7Attach any qualifying letter of intent if the exemption does not apply.
- 8Round all monetary amounts to whole dollars per the rounding rules.
- 9Mail the form to the Kansas City IRS address or use an approved private delivery service.
- 10Retain a copy of the completed form and proof of mailing for your records.
How to file this form
- 1Calculate the excise tax due on the transfer.
- 2Complete Form 8924, entering all required information and rounding amounts to whole dollars.
- 3Pay any balance due shown on line 10 using IRS payment options or a check payable to “United States Treasury.”
- 4Provide direct deposit details on lines 11b‑11d if an overpayment is expected.
- 5Sign the form and attach any qualifying letter of intent if applicable.
- 6Mail the signed form to the Department of the Treasury, Internal Revenue Service, Kansas City, MO 64999, or send via an approved private delivery service.
- 7Keep a copy of the mailed form and proof of mailing as evidence of filing.
Known limitations
- 1The form is not required when the transferee provides a qualifying letter of intent at the time of transfer.
- 2The form is not required if the excise tax has already been paid on the same interest from a previous transfer.
- 3The form does not apply to transfers that do not involve qualifying mineral or geothermal interests.
- 4The form does not apply to entities that are not eligible and cannot satisfy the requirements of section 170(h)(5).
Field map
Compact field-by-field guide
Entity Info
1 items
Name and taxpayer ID of the entity claiming the credit.
Credit Info
1 items
Type of credit or incentive being claimed.
Calculation
2 items
The base amount used to calculate the credit.
Calculated credit amount after applying formulas and limitations.
Certification
1 items
Detailed breakdown supporting the credit calculation.
Signatures
1 items
Sign and date the form.
Almost done reviewing the fields?
Fillable formOpen in Editor->The form is issued as Revision December 2025; the instructions direct users to the latest information page at IRS.gov/Form8924 and note that direct deposit fields were added on lines 11b‑11d.
What changed or needs a fresh check
- Edition date — confirm the revision reads December 2025.
- Fee — Not stated in the official source — verify on the agency site.
- Mailing address — confirm sending to Department of the Treasury, Internal Revenue Service, Kansas City, MO 64999.
- Signature — confirm signature follows the instructions for the signature section of your federal income tax return.
Quick Facts
Downloads
After you file
- 1Retain the mailed Form 8924 and any proof of mailing for your records.
- 2Monitor your account for the IRS’s acknowledgment of payment or refund.
- 3If an error is discovered, file a corrected Form 8924 marked “Amended.”
- 4Pay any interest or penalties assessed for late filing or payment as described in the instructions.
- 5Use IRS.gov/Payments to verify that the balance due has been cleared.
Sources
- SRCInstructions p.1 — purpose of Form 8924 is to report and pay the excise tax on certain transfers of qualifying mineral or geothermal interests.
- SRCInstructions p.1 — filing deadline is the 90th day following the taxable transfer.
- SRCInstructions p.1 — extension can be obtained with Form 7004, but it does not extend payment.
- SRCInstructions p.1 — exemption if the transferee provides a qualifying letter of intent.
- SRCInstructions p.1 — exemption if the Form 8924 tax has previously been paid on the same interest.
- SRCInstructions p.1 — mailing address is Department of the Treasury Internal Revenue Service Kansas City, MO 64999.
- SRCInstructions p.2 — direct deposit fields added on lines 11b, 11c, and 11d for refunds.
- SRCInstructions p.3 — PTIN can be obtained via Form W-12.
- SRCInstructions p.1 — rounding to whole dollars rule: drop amounts under 50 cents, increase 50‑99 cents to next dollar.
- SRCInstructions p.1 — late filing penalty is 5% per month up to a maximum of 25%.
- SRCInstructions p.1 — late payment penalty is 1/2 of 1% of the unpaid amount per month.
Common confusion points
Do I need to file if I’m not an eligible entity?
Eligibility rules are detailed and may be misinterpreted.
→ Verify eligibility status per the instructions.
When is the filing deadline?
The 90‑day rule can be confused with calendar dates.
→ Count 90 days from the taxable transfer date.
Can I get an extension for payment?
Form 7004 only extends filing, not payment.
→ Confirm tax is paid by the original due date.
How do I report a refund?
Direct deposit fields are new and may be overlooked.
→ Enter overpayment on line 11a and provide lines 11b‑11d.
Do I need to round cents?
Rounding rules apply only to the final total.
→ Round only the final total after adding amounts.
What if I need to amend the return?
Amendment process may be unclear.
→ Submit a corrected Form 8924 with “Amended” at the top.
Workflow map
Related forms and next steps
Before
Current
After
⚠ If something goes wrong
- Form 7004 — note that it does not extend the payment deadline, so ensure tax is paid by the original due date.
Questions about IRS Form 8924
What is IRS Form 8924 used for?
Form 8924 tells the IRS how much excise tax you owe when you sell, exchange, or lease a qualifying mineral or geothermal interest. You fill in your entity’s name, address, account number, and the tax amount. The form must be signed and mailed to the IRS. If you miss the deadline, penalties apply.
Who must file IRS Form 8924?
An eligible entity that transfers ownership or possession of a qualifying mineral or geothermal interest must file Form 8924 for each such transfer.
What information does IRS Form 8924 require?
The form collects the eligible entity’s name and address, the account number (line 11d), and the calculated excise tax amount, rounded to whole dollars.
When is IRS Form 8924 due?
File Form 8924 by the 90th day following the taxable transfer.
Where do I file IRS Form 8924?
Send Form 8924 to Department of the Treasury, Internal Revenue Service, Kansas City, MO 64999.
How do I complete IRS Form 8924?
Enter the entity’s name and address as shown on its most recent tax return, provide the account number on line 11d, calculate and round the tax to whole dollars, sign the form, and mail it to the Kansas City IRS address or use an approved Private Delivery Service. If more time is needed to file, submit Form 7004 by the original due date, though it does not extend payment time.
What happens if IRS Form 8924 is filed incorrectly?
If Form 8924 is not filed on time, a penalty of 5% per month (up to 25%) is imposed on the net amount due.
Do I need to file if I’m not an eligible entity?
Eligibility rules are detailed and may be misinterpreted. Verify eligibility status per the instructions.
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