Form 966 (corporate liquidation)

Technical topics regarding tax preparation.
#1
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Three questions:

A C-corporation sold its assets and plans to pay off all debt and transfer all remaining cash to its parent C-Corporation. The parent corporation owns 100% of the stock of this subsidiary corporation.

1) Is form 966 required when a subsidiary corporation liquidates into the parent corporation?

2) The only remaining items on the subsidiaries balance sheet will be cash and retained earnings. The cash will be transferred to the parent in a tax-free transfer. Is the retained earnings transferred to the parent's equity section of the balance sheet? The parent and subsidiary never filed consolidated tax returns.

3) Does the corporation need a written plan for liquidation?
 

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