§ 23-09 Filing of Returns.
RCNY § 23-09
(a)A joint return shall be filed by both the grantor and the grantee, both electronically and in paper format for each deed, instrument, or transaction, whether or not a tax is due thereon. Thus, a return must be filed although the consideration for the deed, instrument, or transaction is $25,000 or less. The actual amount of the consideration for each deed, instrument, or transaction must be set forth on the return at the place provided therefor, regardless of the amount of the consideration. Where the consideration is $400,000 or more, a copy of the contract of sale or closing statement, if any, must be attached to the paper return. A return need not be filed for the grant of a leasehold interest in a 1, 2 or 3 family house or an individual dwelling unit except where tax is owed or the lease is to be recorded. In the case of a transfer of stock in a cooperative housing corporation made before August 1, 1989, other than the initial transfer of stock by the corporation or sponsor, if the owner did not hold the shares in connection with, incidental to or in furtherance of a trade, business, profession, occupation or commercial activity, the grantor and grantee may jointly file an affidavit of non-commercial use in lieu of a return. The return must be filed with the Commissioner of Finance, both electronically and by delivering a paper form of the return with an original signature as prescribed by this chapter to the Register for transmittal to the Commissioner of Finance, except as provided in subdivision (c) of this section with respect to transfers of property in Staten Island. The return must be so filed at the time of payment of the tax, or, in the case of a deed not subject to tax, before the recording of such deed. In the case where a transfer of an economic interest in real property is not subject to tax or the tax is zero (because of available credits), the return must be filed within 30 days after such transfer. The form of return shall be prescribed by the Commissioner of Finance and shall contain such information as the Commissioner deems necessary for the proper administration of the law. The electronic return shall be submitted in the format prepared by the Department of Finance and located on the Department of Finance Internet website. A confirmation will be issued by the Commissioner of Finance upon receipt of an electronic return. The paper return must be signed under oath by both the grantor or his agent and the grantee or his agent. Upon the filing of such return in the case of a deed, evidence thereof shall be affixed to the deed by the Register to indicate that a tax return has been filed. The Commissioner of Finance may provide for the use of stamps as evidence of payment and that they shall be affixed to the deed before it is recorded. If no tax is paid at the time of the recording of the deed, the Register may indicate on the deed that no tax was paid. Where no return is filed at the time of the recording of the deed, the Register may indicate on the deed that no return was filed. Where a deed, instrument, or transaction has more than one grantor or more than one grantee, the paper return may be signed by any one of the grantors and by any one of the grantees provided, however, that those not signing shall not be relieved of any liability for the tax imposed by the law.
(b)(1) Pursuant to subdivision (g) of § 11-2105 of the Administrative Code as added by Local Law 58 of 1989, every cooperative housing corporation must file an information return with the Commissioner of Finance by July 15 of each year covering the preceding period of January 1 through June 30 and by January 15 of each year covering the preceding period of July 1 through December 31. Provided, however, that for the period from January 1 through June 30, 1989, such information return shall have been filed by July 31, 1989.
(2)The Commissioner shall prescribe such forms as are necessary for the information return. Information regarding the transfer of stock in the cooperative housing corporation required to be provided on the return shall include but not be limited to the names, addresses and employer identification numbers or social security numbers of the grantor and the grantee, the number of shares transferred, the date of the transfer and the consideration paid for such transfer.
(c)The Register shall accept a return offered for filing provided the paper return is signed under oath by the grantor or his agent or by the grantee or his agent, unless it appears that the return is insufficient on its face, as where the return shows that the amount of the consideration paid or required to be paid without deductions is less than the amount of mortgages or other liens or encumbrances. If either the grantor or grantee has failed to sign the paper return, it shall be accepted as a return, but the party who has failed to sign the paper return or to file and sign a separate paper return shall be subject to the penalties applicable to a person who has failed to file a return and the period of limitations for assessment of tax or of additional tax shall not apply to such party. The Register is also authorized to reject a return that states that there was no consideration for the deed unless there is attached to such return a statement setting forth the grounds upon which it is claimed that there was no consideration. The acceptance by the Register of a return for filing shall in no way indicate the propriety or correctness of the return. The issuance of a confirmation by the Commissioner of Finance upon receipt of an electronic return shall in no way indicate the propriety or correctness of the electronic return and is not evidence of a completed return nor evidence that the paper return has been completed, filed or received by the Department of Finance. If a return or affidavit required by the law is not filed or if a return or affidavit when filed is incorrect or insufficient on its face the Commissioner of Finance shall take the necessary steps to enforce the filing of such a return or affidavit or of a corrected return or affidavit. The Commissioner of Finance may require amended returns to be filed within twenty days after notice and to contain the information specified in the notice. The electronic return is required to be filed electronically, and the paper return is required to be filed at the office of the Register in the county where the deed is or would be recorded, except that with respect to a transfer relating to a property in Staten Island, (i) the paper return must be filed in the office of the Richmond County Clerk, or (ii) where a return is not filed at the time of the recording of a deed, or the deed is not recorded, the paper return may instead be filed in any office of the City Register. In the case of transfers of controlling economic interests in real property or transfers of shares or interests in a corporation or other entity formed for the purpose of cooperative ownership of real property, returns or affidavits, whichever are applicable, must be filed electronically, and the paper return must be filed at the office of the City Register in the county in which the affected property is located, except that for such a transfer relating to property in Staten Island, the paper return must be filed in any office of the City Register. The locations of the Register's offices are as follows: Manhattan(New York County)66 John Street, 13th Floor,New York, NY 10038 BronxBronx Business Center3030 Third Avenue, 2nd Floor,Bronx, NY 10455 Brooklyn(Kings County) Municipal Building210 Joralemon Street, Room 2,Brooklyn, NY 11201 Queens(Queens County)144-06 94th StreetJamaica, NY 11435 (d) Request for waiver of the electronic filing requirement. The Commissioner of Finance, may, for good cause and in his or her discretion, waive the requirement that the real property transfer tax return be filed electronically and permit the real property transfer tax return to be filed by means of a paper form or in such other manner as the Commissioner of Finance may designate. A request for waiver of the electronic filing requirement must be made in writing no later than ten days prior to the last day permitted by law for the filing of such return. Any return filed in paper format or by any other designated means must be filed in accordance with the provisions of these rules, with the New York City Department of Finance at such address and in the form and manner as may be designated by the Commissioner.
(e)Mailing the return. In the event that the Commissioner has waived the electronic filing requirement pursuant to 19 RCNY § 23-09(d) and will accept a real property transfer tax return filed in paper format, any return required to be filed within a prescribed period or on or before a prescribed date under authority of any provision of § 11-2105 of the Administrative Code, or any rule enacted relating to the administration of such provision, shall when mailed, be deemed delivered as provided in § 11-2116 of the Administrative Code. The receipt of the mailed return by the Department of Finance shall in no way indicate the propriety or the correctness of the return. (Amended City Record 11/13/2017, eff. 12/13/2017)
