File Form 990-PF with an easy-to-use online tax preparation software.
Complete and transmit your Form 990-PF to the IRS more quickly and securely with our simple step-by-step process.
IRS Mandates Electronic Filing of 990-PF Returns for Tax-Exempt Organizations. E-File Now
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
Methods to File Form 990-PF
A traditional way of submitting an information return to the IRS is by sending a completed paper Form 990-PF through the mail. But paper filing relies on a substantial amount of time to get together all the revenue and expenses statements, figure out the right schedule, and then postal mailing the 990-PF form with no reply from the IRS.
Filing IRS information returns electronically has become the best and most efficient way for tax professionals and organizations. E-filed returns take less time to process and are more simple to prepare. Transmitting Form 990-PF with an IRS-authorized, e-file provider provides tighter security than postal mailing, and the IRS suggests e-filing as the most preferred filing method.
Fileform990pf.com - A Wise Choice to File Form 990-PF
Fileform990pf.com makes filing 990-PF simple by offering an easy-to-use, streamlined e-filing experience with a user-friendly website and interview-style questions along with helpful directions through the process. Get through the tax season with ease using these time-saving features:
- Schedule B and Financial Statements - Answer the form interview questions, and Fileform990pf.com will automatically generate 990-PF Schedule B and statement attachments based on your responses.
- Internal Audit Check - Check your IRS Form 990-PF for any mistakes with the built-in audit check and submit an error-free return the first time.
- Amended Return - Correct or change information from an accepted 990-PF for a prior filing year.
- Manage Reviewers and Approvers - Send invitations via email to board members or other key officers to review and e-sign your completed 990-PF return before submitting.
- Web-Based Technologies - Log into your account from anywhere and finish your Form 990-PF from where you last left.
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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
Signup For AnAccount
Create a free account with fileform990pf.com to begin e-filing your 990-PF form. If you already have an account, you can just sign in an email address and password.
Enter Basic Organization Details
List your organization's name, employer identification number (EIN), address, and primary officer details. And then select the 990-PF form to e-file.
Complete Form Interview Section
Answer the simple, interview-style questions about your organization's revenue, expenses, and other required information.
Review Filing Summary & E-File
Check your information for any mistakes with our built-in audit scan. Afterward, pay and transmit thereturn to the IRS.
Pricing starts at $169.90 per return
Get More Time to File Form 990-PF
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.
E-file Extension Form 8868 while on the go with the Form 8868 mobile app for iOS and Android devices.