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Form 990 Form 990-EZ Form 990-PF Form 990-N Form 990-T
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Information Required to File 990-PF

Before you e-file 990-PF, here is the list of information you need.

990-PF Filing Solution for Tax Professional & Accounting Firms

Tax1099 is designed for tax professionals and accounting firms who handle multiple clients and filings.

Important Date, Penalties, & Extensions For Form 990-PF

Filing Type Due Date
E-filing Deadline 15th day of the 5th month after the organization’s tax year ends.
Form 990-PF Extension & Schedules
  • Foundations filing Form 990-PF can request for an automatic 6-month extension using Form 8868.
  • Common Schedules for 990-PF include Schedule B (contributors), M (grants), O (narrative explanations), and F (foreign activities).
Late Filing Penalties
  • For smaller gross-receipt organizations whose gross receipts are less than $1, 208, 500, the penalty is $20 per day, up to $12,000 or 5% of gross receipts.
  • For organizations whose gross receipts exceed $1,208,500, the penalty may rise to $120 per day, up to a maximum of $60,000.
  • If your foundation fails to file Form 990-PF for three (3) consecutive years, it will trigger an automatic revocation of tax-exempt status.

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FAQs

FAQs on Tax Exempt Organization Filing

IRS Form 990-PF, Return of Private Foundation or Section 4947(a)(1) Nonexempt Charitable Trust Treated as a Private Foundation, is used by private foundations to report taxes on investment income, financials, and any contributions made in that particular tax year they are filing for.

Form 990-PF is filed by any private foundation, including both tax exempt and taxable foundations.

The deadline to file Form 990-PF is the 15th day of the 5th month after the close of the organization’s tax year (either calendar or fiscal year). If the due date falls on a weekend or holiday, it automatically moves to the next working day.

Yes, you can get an automatic 6-month filing extension for Form 990-PF using Form 8868.

The penalty for filing Form 990-PF are:

  • For foundations with gross receipts less than $1, 208, 500, the penalty is $20 per day, up to $12,000 or 5% of gross receipts.
  • For organizations with gross receipts that exceed $1,208,500, the penalty is $120 per day, up to a maximum of $60,000.
  • In addition, if you fail to file for three consecutive years, your organization will lose its exemption status.

Yes, you can amend or correct an already submitted Form 990-PF to the IRS by filing another form and checking the box for ‘Amended Return’.

If your foundation fails to file Form 990-PF for three consecutive years, your tax-exempt status will be revoked.

The IRS may take up to a few days to process your Form 990-PF filings. You can track the status of your filing via our dashboard.