Looking for a Form 4720 Templates? Download it for free!

•

Organizations Organized or

Charitable organizations that make

properly complete this form, file it, and pay any

certain premium payments on personal

balance due by the due date for Form 4720.

Created in a Foreign Country

benefit contracts. Form 4720 must be filed by

Form 8868 is also used to request an

any organization described in section 170(c) or

or U.S. Possession

additional extension of time to file; however,

section 664(d) that answered “Yes” to question

these extensions are not automatically

Report all amounts in U.S. currency (state

(b) in Part X of Form 990, question 6b in Part

granted.

conversion rate used) and give information in

VII-B of Form 990-PF, or question 6b in Part

English. Report items in total, including

VI-B of Form 5227.

•

amounts and transactions from both inside and

Self-Dealers, Disqualified Persons,

Name, Address, etc.

outside the United States.

Foundation Managers, and Organization

The name, address, and employer

Managers. If you are a self-dealer, disqualified

identification number of the private foundation

Sections 4941 through 4945 and section

person, foundation manager, or organization

or public charity should be the same as shown

4955 do not apply to foreign private

manager and you have the same tax year as

on Form 990-PF, Form 5227, Form 990, Form

foundations that receive substantially all of

the foundation or organization, you may report

990-EZ, and Schedule A (Form 990 or

their support (other than gross investment

any first tier tax you owe on the Form 4720

income) from sources outside the United

990-EZ). If you are a self-dealer, foundation

filed by the foundation or organization.

manager, disqualified person, or organization

States. These organizations must complete

Managers, self-dealers, and disqualified

this form and file it in the same manner as

manager filing a separate Form 4720, enter

persons who do this are responsible for the

other private foundations. However, they and

your name, address, and taxpayer

parts that relate to taxes they owe and should

foundation managers and self-dealers do not

identification number in Part II-A.

include their own check or money order,

have to pay any tax that would otherwise be

payable to the United States Treasury, with the

Include the suite, room, or other unit

due on this return.

return.

number after the street address.

Self-dealers, disqualified persons,

Tax Payments

foundation managers, and organization

If the Post Office does not deliver mail to

managers who owe tax under Chapter 41 or 42

the street address, show the P.O. box number

Managers, self-dealers, and disqualified

and do not have the same tax year or do not

instead of the street address.

persons paying tax on the organization’s Form

sign the return of the foundation or

4720 must pay with the return the tax that

organization must file a separate return on

Signature and Verification

applies to them as shown in Part II-A, page 1.

Form 4720 showing the tax owed and the

Managers, self-dealers, and disqualified

name of the foundation or organization for

If you are an organization manager, foundation

persons who file separate Forms 4720 must

which you owe tax. If you file a separate Form

manager, disqualified person, or self-dealer,

pay the applicable tax with their separate

4720, enter your tax year at the top of the form.

you should sign only in the spaces that apply,

returns. When managers do not sign the

Enter your name, address, and taxpayer

whether you use the return of the foundation or

organization’s Form 4720 to report their own

identification number in Part II-A. Complete all

organization as your return, or file separately.

tax liability, the amount of tax they owe should

the information the form requires, to the extent

not be entered in Part II-B, line 1.

If you are signing on behalf of the

possible, that applies to your liability.

foundation or organization and also because of

Payment by a private foundation of any

personal tax liability, you must sign twice. You

Where To File

taxes owed by the foundation managers or

sign:

self-dealers will result in additional taxes under

To file Form 4720, mail or deliver it to:

1. On behalf of the foundation or

the self-dealing and taxable expenditure

Internal Revenue Service Center

organization and

provisions. Managers and self-dealers should

Ogden, UT 84201-0027

2. For your own personal tax liability.

pay taxes imposed on them with their own

check or money order.

When To File

For a corporation (or an association), the

form may be signed by one of the following:

Disqualified persons and organization

Part I taxes. File Form 4720 by the due date

president, vice president, treasurer, assistant

managers should pay taxes on excess benefit

(not including extensions) for filing the

treasurer, chief accounting officer, or other

transactions that are imposed on them with

organization’s Form 990-PF, Form 990, Form

corporate officer (such as tax officer).

their own check or money order. Any

990-EZ, or Form 5227.

reimbursement of a disqualified person’s tax

For a manager or self-dealer that is a

If the regular due date falls on a Saturday,

liability from excess benefit transactions by the

partnership, Form 4720 is signed by a partner

Sunday, or legal holiday, file by the next

organization will be treated as an excess

or partners authorized to sign the partnership

business day.

benefit transaction subject to the tax unless the

return.

Affiliated group member. For members

organization included the reimbursement in the

of an affiliated group of organizations that have

disqualified person’s compensation and the

If the return is filed on behalf of a trust, the

different tax years, and who are filing Form

disqualified person’s total compensation was

authorized trustee(s) must sign it.

4720 to report tax under section 4911, the tax

reasonable. See the instructions to Schedule I

year of the affiliated group is the calendar year,

A receiver, trustee, or assignee required to

on page 7 for information on excess benefit

unless all members of the group elect under

file any return on behalf of an individual, a

transactions.

trust, estate, partnership, association, company

Regulations section 56.4911-7(e)(5) to make a

member’s year the group’s tax year.

or corporation must sign the Form 4720 filed

Rounding Off to Whole

for these taxpayers.

Part II taxes. If you are a manager,

Dollars

self-dealer, or disqualified person owing taxes

Also, a person with a valid power of

under Chapter 41 or 42 and filing a separate

You may show the money items on the return

attorney may sign for the organization,

Form 4720, and your tax year ends on the

and accompanying schedules as whole-dollar

foundation, manager, or self-dealer. Include a

same date as the organization, you must file by

amounts. To do so, drop amounts less than 50

copy of the power of attorney with the return.

the due date for filing Form 990-PF, Form

cents and increase any amounts from 50 to 99

5227, Form 990, or Form 990-EZ of the

Any person, firm, or corporation that

cents to the next dollar.

organization for which you owe tax. If your tax

prepared the return for a fee must also sign it

year ends on a date different from that of the

and fill in the address of the preparer. If a firm

Penalties and Interest

organization, you must file a Form 4720 by the

or corporation prepares the return, it should be

15th day of the 5th month after your tax year

There are penalties for failure to file or to pay

signed in the name of the firm or corporation.

ends.

tax. There are also penalties for willful failure to

file, supply information or pay tax, and for filing

If the regular due date falls on a Saturday,

Attachments

fraudulent returns and statements, that apply to

Sunday, or legal holiday, file by the next

If you need more space, attach separate

public charities, private foundations, managers,

business day.

sheets showing the same information in the

and self-dealers who are required to file this

same order as on the printed form. Show the

return. See sections 6651, 7203, 7206, and

Extension

totals on the printed form.

7207. Also, see section 6684 for penalties that

If you cannot file Form 4720 by the due date,

relate to tax liability under Chapter 42.

Enter the organization’s name and

you may request an automatic 3-month

employer identification number on each sheet.

Interest at the underpayment rate

extension of time to file by using Form 8868,

Use sheets that are the same size as the form

established under section 6621 is charged for

Application for Extension of Time To File an

and indicate clearly the line of the printed form

any unpaid tax. The interest on underpayments

Exempt Organization Return. The automatic

to which the information relates.

is in addition to any penalties.

3-month extension will be granted if you

-2-

Form 4720 Instructions

Instructions For Form 4720 - Return Of Certain Excise Taxes On Charities And Other Persons -Department Of The Treasury - 2002 Page 2

Related Articles

Related forms

Related Categories