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Form 990-PF, Private Foundation

Form 990-PF is used to figure the tax based on investment income, and to report charitable distributions and activities.

Also, Form 990-PF serves as a substitute for the section 4947(a)(1) nonexempt charitable trust's income tax return, Form 1041, U.S. Income Tax Return for Estates and Trusts, when the trust has no taxable income.

Who must File Form 990-PF?

Form 990-PF is an annual information return that must be filed by:

  • Exempt private foundations
  • Taxable private foundations
  • Organizations that agree to private foundation status
  • Organizations that made an election under section 41(e)(6),
  • Foundations that are making a section 507 termination, and
  • Section 4947(a)(1) nonexempt charitable trusts treated as private foundations (section 6033(d)).

Due Dates

Form 990-PF return must be filed by the 15th day of the 5th month following the close of the foundation's accounting period.

Penalty for Late Filing Form 990-PF

The penalty generally is 1/2 of 1% of the unpaid tax for each month or part of a month the tax remains unpaid, not to exceed 25% of the unpaid tax. If there was reasonable cause for not paying the tax on time, the penalty can be waived. However, interest is charged on any tax not paid on time, at the rate provided by section 6621.

Extension of time to file Form 990-PF

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Frequently Asked Questions

Find answers related to e-filing IRS Form 990, 990-EZ, 990-N (e-Postcard) and Extension Form 8868 with our Frequently Asked Questions.

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