What Is a Schedule II Bank? A Schedule II bank is a subsidiary of a foreign bank that is permitted to do business in Canada. Typically, the names of these banks reflect their foreign subsidiary nature, such as Citibank Canada and the Amex Bank of Canada. A Schedule I bank is a domestic institution such
What Is Schedule A (Form 1040 or 1040-SR): Itemized Deductions? Schedule A (Form 1040 or 1040-SR): Itemized Deductions is an Internal Revenue Service (IRS) form for U.S. taxpayers who choose to itemize their tax-deductible expenses rather than take the standard deduction. The Schedule A form is an optional attachment to the standard 1040 form that
What Is Schedule D? Schedule D is one of the many schedules provided by the IRS and filed with the U.S. Individual Income Tax Return Form 1040. Schedule D is required when reporting any gains or losses you realize from the sale of your capital assets. Capital assets include property you own and use for personal
What Is Scheduled Personal Property? Scheduled personal property is a supplemental insurance policy that extends coverage beyond the standard protection provided in a homeowners’ insurance policy. By purchasing a scheduled personal property policy, owners can ensure full coverage of expensive items, such as jewelry, in the event of a claim. Key Takeaways Scheduled personal property is an additional
What Is a Scheduled Recast? A scheduled recast is a recalculation of the remaining payment schedule of principal and interest payments for a mortgage. A mortgage is a type of loan in which a bank lends to a borrower for the purchase of a home. The recast is done on a predetermined or scheduled date. Some mortgage
Schedule F is a section in an annual insurance statement in which reinsurance transactions are disclosed. It is used by regulators to identify the different reinsurance arrangements that an insurer may be taking part in, and provides an indicator of whether the insurer will be able to collect reinsurance recoverables if losses are incurred. Schedule
What Is Schedule K-1? Schedule K-1 is a federal tax document used to report the income, losses, and dividends for a business’ or financial entity’s partners or an S corporation’s shareholders. The K-1 form is also used to report income distributions from trusts and estates to beneficiaries. A Schedule K-1 document is prepared for each
What Is Schedule L: Transactions with Interested Persons? Schedule L is a tax schedule attached to IRS Form 1040 that is used to calculate the standard deduction for certain tax filers. Schedule L is only used by taxpayers who are increasing their standard deduction by reporting state or local real estate taxes, taxes from the
What Is Schedule TO? Schedule TO is a regulatory filing with the Securities and Exchange Commission (SEC) required of a party that makes a tender offer under the Securities Exchange Act of 1934 that would result in more than 5% ownership of a class of the company’s securities. The tender offer statement is governed by section 14(d)(1) or 13(e)(1) of
What Is a Schedule TO-C? A schedule TO-C is filed with the Securities Exchange Commission (SEC) when any written communications take place relating to a tender offer. Schedule TO-C is a subset of the Schedule TO filing—also referred to as a tender offer statement. Key Takeaways A schedule TO-C is filed with the Securities Exchange Commission
