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SAVINGS & LOAN

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Summary

Filing Requirements

Corporate Home

Phone: 1-844-898-8542

Fax: 803-896-1682
Email: CorpTax@dor.sc.gov

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Savings & Loan Frequently Asked Questions

How do I set up a Corporate Tax account for a Savings and Loan Association with the SCDOR?

Filing a Savings and Loan Association Tax return automatically registers you with the SCDOR. If this is your first return filed, check the Initial Return box on the front of the SC1104. Once your Corporate Income Tax account is registered with the SCDOR, we will send you a Corporate Registration Filing Requirements letter (SC1070). This letter includes important information about your Savings & Loan filing requirements. To avoid processing delays, be sure to include your FEIN on all returns, payments, and correspondence sent to the SCDOR.

The SCDOR has no role in requiring a Certificate of Authority with the South Carolina Secretary of State’s Office (SCSOS) to do business in South Carolina. The requirements for a Certificate of Authority are in Chapter 15 of Title 33 of the South Carolina Code of Laws. For questions about who is required to have a Certificate of Authority, contact the SCSOS.

What form do I use to file a Savings and Loan Association Tax return and when is the return due?

Savings and Loan Associations file the SC1104. The SC1104 is due by the 15th day of the fourth month after the tax year end.

Can I request an extension of time to file my return?

Use the SC1120-T to request an extension of time to file a Savings and Loan Association Tax return.

Save time and paper! Request your extension to file by paying your balance due on our free tax portal, MyDORWAY. Select Business Income Tax Payment to get started. Your payment on MyDORWAY automatically submits your filing extension request. No additional form or paperwork is required.

If filing your SC1120-T by paper, make your check payable to SCDOR and include your name, FEIN, Income Tax period ending, and SC1120-T in the memo. Do not send cash. Mail your SC1120-T and payment in one envelope to the address on the form.

There is no extension of time to pay. Any tax due must be paid by the due date to avoid late penalties and interest.

Check the Extension box on the front of the SC1104 if you requested a South Carolina or federal extension.

Will a federal extension be accepted to extend the South Carolina Corporate Tax Return?

If you do not anticipate owing tax, and you requested a federal extension of time to file your federal Income Tax return, we will accept a copy of the properly filed federal extension as long as the Savings & Loan Tax return is received within the extended time allowed by the IRS.

When are Estimated Tax payments due?

Savings and Loan Associations must make Estimated Tax payments if their Estimated Tax (Income Tax less credits) is determined to be $100 or more. Quarterly installments are due by the 15th day of the fourth, sixth, ninth, and twelfth months of the tax year.

How can I make Estimated Tax payments?

Savings and Loan Associations can pay Estimated Income Tax payments online using our free tax portal, MyDORWAY. Select Business Income Tax Payment to get started. Do not submit the SC1120-CDP if you pay online.

Savings and Loan Associations can also pay Estimated Income Tax payments electronically through Electronic Funds Transfer (EFT). To get started, the company must register with the SCDOR. The registration process takes up to three weeks. If you are interested in the EFT program, complete and submit a D-128.

If filing by paper, mail the completed SC1120-CDP along with payment to: SCDOR, Corporation Voucher, PO Box 100153, Columbia, SC 29202. Make your check payable to SCDOR. Include your name, FEIN, tax year, and SC1120-CDP in the memo. Do not send cash.

Your FEIN (Federal Employer Identification Number) is required to ensure proper credit of payments submitted. Providing an incorrect FEIN will result in processing delays and errors in posting the payments.

How do I file an amended return?

To amend an SC1104, complete a new form and check the Amended box on the front of the return. With the filing of the amended SC1104, include an explanation for the adjustments, a copy of the federal amended return, and a copy of the original filed return. If a copy of the original return is not provided, the amended return will not be processed. The amended return must be submitted within 36 months from the date the original return was filed or due to be filed, whichever is later as required by SC Code Section 12-54-85.

How much time do I have to file an amended return once the IRS completes an audit of a Savings and Loan Association?

Once the IRS completes the audit, a Savings and Loan Association has 180 days to file an amended return with the SCDOR. The signed and dated IRS forms 4549 and 870 need to be included with the amended return, along with the 1574 letter, if available. An explanation of the adjustments must be attached to the amended return, along with a copy of the original filed return. If a copy of the original return is not provided, the amended return will not be processed.

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Savings & Loan Frequently Asked Questions

How do I set up a Corporate Tax account for a Savings and Loan Association with the SCDOR?​​​​

What form do I use to file a Savings and Loan Association Tax return and when is the return due?​