Deadline to File Form 990-PF

Private foundations have to file Form 990-PF by the 15th day of the 5th month after their accounting
period ends.

Late Filing Penalties

Organizations who file Form 990-PF late or send an incomplete return will incur penalties fees from the IRS. Charges are typically $20 each day your return is late or $100 each day for organizations with gross receipts over than $1 million. The maximum penalty is $50,000 or 5% of gross receipts, whichever is the least amount. If a private foundation fails to pay any tax liabilities before the filing date, the IRS charges half of 1% of the amount due each month or part of the month the bill is left unpaid - up to 25% of the
tax amount.

A private foundation can lose exemption status if it fails to file a 990-PF form for three consecutive years. In such case, the organization is responsible for filing income tax returns, paying income taxes, and filing Form 990-PF as a taxable private foundation until exemption
status is reinstated.


Form 990-PF - Overview

IRS Form 990-PF is a tax return for private foundations to report annual revenue, expenses, and a complete list of grants, along with other information to the IRS. The 990-PF form applies to exempt and taxable private foundations and also to non-exempt charitable trusts which are treated as
private foundations.

The IRS requires different types of private foundations to file Form 990-PF which includes, but not limited to

  • Exempt private foundations
  • Taxable private foundations
  • Your form is safely and securely transmitted directly to the IRS.
  • Organizations with private foundation status but also have an exempt status
    application pending
  • Organizations with private foundation status but have not applied for exempt status or have status under retroactive recognition of exemption
  • Organizations filing an election under section 41(e)(6)(D)(iv)
  • Private foundations filing a section 507(b) termination
  • Nonexempt charitable trusts treated as private foundations

Private foundations are responsible for filing Form 990-PF to calculate the tax based on their investment income and to report any charitable distributions or activites. The 990-PF form also serves a substitute Form 1041 for nonexempt charitable trusts when there is no taxable income.

Form 990-PF Schedule

The organizations which are filing Form 990-PF must include the additional informations by attaching the schedule.

Schedule B - Schedule of Contributors

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When its year end, your organization has to compile with W-2 & 1099 Reporting if you have employees or contractor working for your organization. Check the following links to know more about it.

Steps to File Form 990-PF Online with fileform990pf.com

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    Signup For An Account

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    Enter Basic Organization Details

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    Complete Form Interview Section

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With fileform990pf.com, you can also extend your 990-PF filing deadline by e-filing Extension Form 8868. The 8868 form grants an automatic 6-month extension of time and can be filed quickly and easily from your account.


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