Third-Party Escrow Agreement




Report your interest in an escrow agreement in Part 2.  In addition, report the terms of your agreement in Part 3 (see Part 3 of this guide for details).

#

Description

EIF

Value

Income Type

Income Amount

1

Third-party escrow account with Tristate Bank (due to sale of WQX Systems, LLC, to Widgets Unlimited)

N/A

$1,000,001 - $5,000,000

 

None (or less than $201)

For You

Part 2

Report your interest in an escrow agreement if the value of the escrow property was more than $1,000 at the end of the reporting period or if you received more than $200 in income during the reporting period.

Description:  Provide the name of the account, including the name of the third-party escrow holder with whom the escrow property is held in trust, and write a short description of the nature of the transaction (e.g., “due to sale of WQX Systems, LLC, to Widgets Unlimited”).

EIFSelect “N/A.”

ValueReport the value of the escrow property by selecting the appropriate category.

Income Type:  Specify the type(s) of income if the total amount of income during the reporting period exceeded $200.

Income Amount:

(1) Income less than $201:  Select the category for “None (or less than $201).”

(2) Dividends, capital gains, interest, rent, or royalties:  Select the category that corresponds to the total amount of income received during the reporting period.

(3) Other income:  Provide the exact amount of income received during the reporting period.

Click Here for Frequently Asked Questions