Filed by Exempt & Taxable Private Foundations as well as Non-exempt Charitable Trusts, Form 990-PF collects information on an organization's assets, financial activities, trustees and officers, grants awarded for the specified fiscal year, and most importantly, maintains the tax exempt status of the organization.
Private Foundations that operate from January 1 to December 31 should file no later May 15.
Private Foundation that operate on a fiscal tax year will file by the 15th day of the 5th month following the organization's tax year end date.
Note: Tax filing deadlines that fall on a weekend or National Holiday will be due on the following business day.
Schedule B and other attachments are required for certain Private Foundations when filing to provide additional information to complete the filing process. Our software supports this schedule and automatically generates it while you are preparing your 990-PF return.Learn More
A previously accepted Form 990-PF Private Foundation Tax Return can easily be amended at any time. Changes and corrections can be made within minutes and you can also provide an explanation to the IRS as to why the organization needed to amend its Form 990-PF return.Learn More
Note: In order to e-file an amended Form 990-PF return, the original return has to be e-filed with TaxBandits.
Preparing, Filing, and Transmitting your Private Foundation Tax Return can now be completed in 5 steps!
Private Foundations that fail to file its Form 990-PF on the appropriate filing deadline are subject to penalties by the IRS. If the Private Foundation is able to provide a reasonable cause for the failure to file that is accepted by the IRS, it can file its return without penalties. Otherwise, penalties would be charged based on the gross receipts of the foundation.
Failing to file Form 990-PF for three consecutive years will result in an automatic revocation of the tax-exempt status. By losing this exempt status, Foundations will have to begin filing as a taxable organization with the IRS. The tax exempt status can be reinstated by filing applying for the status and filing with reasonable cause for the failure.Learn More
Private Foundations can receive additional time to file its Form 990-PF by filing IRS Form 8868 on or before the original filing deadline of the foundation. Within minutes, you will receive an additional 6 months to file your Form 990-PF online.