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 - 2003 Page 6
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Do not send deposits directly to an IRS
All documents and statements the IRS
Special Rules
office; otherwise, the foundation may
requires an applicant to file with the form,
•
Section 4947(a)(1) nonexempt
have to pay a penalty. Mail or deliver the
Any statement or other supporting
charitable trusts should use Form
completed Form 8109 with the payment
document submitted in support of the
1041-ES for paying any estimated tax on
to an authorized depositary, i.e., a
application, and
•
income subject to tax under section 1.
commercial bank or other financial
Any letter or other document issued by
Form 1041-ES also contains the
institution authorized to accept Federal
the IRS concerning the application.
estimated tax rules for paying the tax on
tax deposits.
An application for tax exemption does
that income.
not include:
Make checks or money orders payable
•
Any application for tax exemption filed
Taxable private foundations should use
to the depositary. To help ensure proper
before July 15, 1987, unless the private
Form 1120-W for figuring any estimated
crediting, write the foundation’s EIN, the
foundation filing the application had a
tax on income subject to tax under
tax period to which the deposit applies,
copy of the application on July 15, 1987,
section 11. Form 1120-W contains the
and “Form 990-PF” on the check or
or
estimated tax rules for paying the tax on
money order. Be sure to darken the
•
Any material that is not available for
that income.
990-PF box on the coupon. Records of
public inspection under section 6104.
these deposits will be sent to the IRS.
P. Tax Payment Methods
For more information on deposits, see
Who Must Make the Annual
the instructions in the coupon booklet
for Domestic Private
Returns and Exemption
(Form 8109) and Pub. 583, Starting a
Application Available for Public
Foundations
Business and Keeping Records.
Inspection?
Whether the foundation uses the
Special Payment Option for
The foundation’s annual returns and
depository method of tax payment or the
Small Foundations
exemption application must be made
special option for small foundations, it
available to the public by the private
A private foundation may enclose a check
must pay the tax due (see Part VI) in full
foundation itself and by the IRS.
or money order, payable to the United
by the 15th day of the 5th month after the
States Treasury, with the Form 990-PF or
end of its tax year.
How Does a Private Foundation
Form 8868, if it meets all of the following
Make Its Annual Returns and
Depository Method of Tax
requirements.
Exemption Application
Payment
1. The foundation must not be
Available for Public Inspection?
required to use EFTPS.
Some foundations (described below) are
2. The tax based on investment
required to electronically deposit all
A private foundation must make its annual
income shown on line 5, Part VI of Form
depository taxes, including their tax
returns and exemption application
990-PF is less than $500.
payments for the excise tax based on
available in 2 ways:
3. If Form 8868 is used, the amount
investment income.
1. By office visitation and
entered on line 3a of Part I or line 8a of
2. By providing copies or making them
Electronic Deposit Requirement
Part II of Form 8868 must be less than
widely available.
$500 and it must be the full balance due.
The foundation must make electronic
deposits of all depository taxes (such as
Be sure to write “2003 Form 990-PF”
Public Inspection by Office
employment tax or the excise tax based
and the foundation’s name, address, and
Visitation
on investment income) using the
EIN on its check or money order.
A private foundation must make its annual
Electronic Federal Tax Payment System
returns and exemption application
Foreign organizations should see
(EFTPS) in 2004 if:
•
!
the instructions for Part VI, line 9.
available for public inspection without
The total deposits of such taxes in
charge at its principal, regional, and
2002 were more than $200,000 or
CAUTION
•
district offices during regular business
The foundation was required to use
hours.
Q. Public Inspection
EFTPS in 2003.
If the foundation is required to use
Conditions that may be set for public
Requirements
EFTPS and fails to do so, it may be
inspection at the office. A private
subject to a 10% penalty. If the foundation
A private foundation must make its annual
foundation:
•
is not required to use EFTPS, it may
returns and exemption application
May have an employee present,
•
participate voluntarily. To enroll in or get
available for public inspection.
Must allow the individual conducting
more information about EFTPS, call
the inspection to take notes freely during
Definitions
1-800-555-4477 or 1-800-945-8400. To
the inspection, and
•
enroll online, visit
Annual returns. An annual return is an
Must allow an individual to make photo
exact copy of the Form 990-PF that was
copies of documents at no charge but
Depositing on time. For deposits made
filed with the IRS including all schedules,
only if the individual brings photocopying
by EFTPS to be on time, the foundation
attachments, and supporting documents.
equipment to the place of inspection.
must initiate the transaction at least 1
It also includes any amendments to the
business day before the date the deposit
Determining if a site is a regional or
original return (amended return).
is due.
district office. A regional or district office
By annual returns, we mean any
is any office of a private foundation, other
Deposits With Form 8109
annual return (defined above) that is not
than its principal office, that has paid
If the foundation does not use EFTPS,
more than 3 years old from the later of:
employees whose total number of paid
deposit estimated tax payments and any
1. The date the return is required to
hours a week are normally 120 hours or
balance due for the excise tax based on
be filed (including extensions) or
more. Include the hours worked by
investment income with Form 8109,
2. The date that the return is actually
part-time (as well as full-time) employees
Federal Tax Deposit Coupon. If you do
filed.
in making that determination.
not have a preprinted Form 8109, use
What sites are not considered a
Form 8109-B to make deposits. You can
Exemption application is an application
regional or district office. A site is not
get this form only by calling
for tax exemption and includes (except as
considered a regional or district office if:
1-800-829-4933. Be sure to have your
described later):
•
employer identification number (EIN)
Any prescribed application form (such
1. The only services provided at the
ready when you call.
as Form 1023 or Form 1024),
site further the foundations exempt
-6-
Form 990-PF Instructions
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