Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - Internal Revenue Service - 2010 Page 10
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32market value of the net assets of the
that the organization did not terminate its
use attachments that are the same size
organization at the beginning of the tax
private foundation status. Interest on any
as the printed forms.
year, and
tax due will be charged from the original
On each attachment, write:
2. The total of the related dispositions
due date of Form 990-PF, but penalties
•
“Form 990-PF,”
made during prior tax years (if a
under sections 6651 and 6652 will not be
•
The tax year,
disposition is part of a series of related
assessed if Form 990-PF is filed within
•
The corresponding schedule number or
dispositions made during these prior tax
the period allowed by the IRS.
letter,
years) is less than 25% of the fair market
•
The organization’s name and EIN, and
V. Special Rules for
value of the net assets of the organization
•
The information requested using the
at the beginning of the tax year in which
Section 507(b)(1)(B)
format and line sequence of the printed
any of the series of related dispositions
form.
was made.
Termination
Also, show totals on the printed forms.
If the organization is terminating its
The facts and circumstances of the
private foundation status under the
particular case will determine whether a
Specific Instructions
60-month provisions of section
significant disposition has occurred
507(b)(1)(B), special rules apply. See
through a series of related dispositions.
General Instructions T and U. Under
Ordinarily, a distribution described in
Completing the Heading
these rules, the organization may file
section 170(b)(1)(F)(ii) (relating to private
Form 990-PF without paying the tax
The following instructions are keyed to
foundations making qualifying
based on investment income if it filed a
items in the Form 990-PF Entity section.
distributions out of corpus equal to 100%
consent under section 6501(c)(4) with its
of contributions received during the
Name and Address
notification to the TE/GE Customer
foundation’s tax year) will not be taken
Account Services at the Cincinnati
If the organization operates under a name
into account as a significant disposition of
address given in General Instruction U of
different from its legal name, give the
assets. See Regulations section
its intention to begin a section
legal name of the organization but identify
1.170A-9(h)(2).
507(b)(1)(B) termination. The consent
its alternate name, after the legal name,
U. Filing Requirements
provides that the period of limitation on
by writing “aka”(also known as) and the
the assessment of tax under Chapter 42,
alternate name of the organization. The
During Section
based on investment income for any tax
address used must be that of the principal
year in the 60-month period, will not
office of the foundation.
507(b)(1)(B) Termination
expire until at least 1 year after the period
Include the suite, room, or other unit
Although an organization terminating its
for assessing a deficiency for the last tax
number after the street address. If the
private foundation status under section
year in which the 60-month period would
post office does not deliver mail to the
507(b)(1)(B) may be regarded as a public
normally expire. Any foundation not
street address and the organization has a
charity for certain purposes, it is
paying the tax when it files Form 990-PF
P.O. box, show the box number instead of
considered a private foundation for filing
must attach a copy of the signed consent.
the street address.
requirement purposes and must file an
If the foundation did not file the
annual return on Form 990-PF. The return
Item A. Employer Identification
consent, the tax must be paid in the
must be filed for each year in the
Number
normal manner as explained in General
60-month termination period, if that period
Instructions O and P. The organization
The organization should have only one
has not expired before the due date of the
may file a claim for refund after
employer identification number (EIN). If it
return.
completing termination or during the
has more than one EIN, notify the Internal
Regulations under section 507(b)(1)
termination period. The claim for refund
Revenue Service Center at the address
(B)(iii) specify that within 90 days after the
must be filed on time and the organization
shown under General Instruction J.
end of the termination period the
must supply information establishing that
Explain what numbers the organization
organization must supply information to
it qualified as a public charity for the
has, the name and address to which each
the IRS establishing that it has terminated
period for which it paid the tax.
number was assigned, and the address of
its private foundation status and, as a
the organization’s principal office. The
result, qualifies as a public charity. Send
W. Rounding, Currency,
IRS will then advise which number to use.
the information to:
and Attachments
Item B. Telephone Number
Internal Revenue Service
Enter a foundation telephone number
TE/GE – EO Determinations
Rounding off to whole dollars. You
(including the area code) that the public
P.O. Box 2508
may round off cents to whole dollars on
and government regulators may use to
Cincinnati, OH 45201
your return and schedules. If you do
obtain information about the foundation’s
round to whole dollars, you must round all
If information is furnished establishing
finances and activities. This information
amounts. To round, drop amounts under
a successful termination, then, for the
should be available at this telephone
50 cents and increase amounts from 50
final year of the termination period, the
number during normal business hours. If
to 99 cents to the next dollar. For
organization should comply with the filing
the foundation does not have a
example, $1.39 becomes $1 and $2.50
requirements for the type of public charity
telephone, enter a telephone number of a
becomes $3.
it has become. See the Instructions for
foundation official who can provide this
Form 990 and Schedule A (Form 990 or
If you have to add two or more
information during normal business hours.
990-EZ) for details on filing requirements.
amounts to figure the amount to enter on
Item D2. Foreign Organizations
This applies even if the IRS has not
a line, include cents when adding the
confirmed that the organization has
amounts and round off only the total.
If the foreign organization meets the 85%
terminated its private foundation status by
test of Regulations section 53.4948-1(b),
Currency and language requirements.
the time the return for the final year of the
then:
Report all amounts in U.S. dollars. State
termination is due (or would be due if a
•
Check the box in D2 on page 1 of Form
the conversion rate used. Report all items
return were required).
990-PF,
in total, including amounts from both U.S.
•
The organization will be allowed a
Check the box at the top of Part XI,
and non-U.S. sources. All information
•
reasonable period of time to file any
Do not fill in Parts XI and XIII,
must be in English.
•
private foundation returns required (for
Do not fill in Part X unless it is claiming
the last year of the termination period) but
Attachments. Use the schedules on
status as a private operating foundation,
not previously filed if it is later determined
Form 990-PF. If you need more space,
and
-10-
Form 990-PF Instructions
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