Form 8870 - Information Return For Transfers Associated With Certain Personal Benefit Contracts Page 5
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65
Form 8870 (Rev. 2-2009)
Page
Specific Instructions
Amended Return
The organization may file an amended return at any time to
Completing the Heading of Form 8870
change or add to the information reported on a previously
Accounting period. Use Form 8870 to report either on a
filed return for the same period.
calendar year accounting period or on an accounting period
An amended return must provide all the information called
other than a calendar year (either a fiscal year or a short
for by the form and instructions, not just the new or
period (less than 12 months)). This information should be the
corrected information. Write “Amended Return” at the top of
same information as reported on your Form 990, 990-EZ,
an amended Form 8870.
990-PF, or 5227.
Signature
Name and address. Include the suite, room, or other unit
number after the street address. If the Post Office does not
To make the return complete, an officer of the organization
deliver mail to the street address, and the organization has a
authorized to sign it must sign in the space provided. For a
P.O. box, show the box number instead of the street
corporation or association, this officer may be the president,
address.
vice president, treasurer, assistant treasurer, chief accounting
For foreign addresses, enter information in the following
officer, or other corporate or association officer, such as a
order: city, province or state, and the name of the country.
tax officer. A receiver, trustee, or assignee must sign any
Follow the foreign country’s practice in placing the postal
return he or she files for a corporation or association. For a
code in the address. Please do not abbreviate the country
trust, the authorized trustee(s) must sign.
name.
Generally, anyone who is paid to prepare the return must
If a change in address occurs after the return is filed, use
sign it in the Paid Preparer’s Use Only area.
Form 8822, Change of Address, to notify the IRS of the new
The paid preparer must:
address.
Sign the return in the space provided for the preparer’s
Employer identification number. The organization should
signature.
have only one federal employer identification number (EIN). If
Complete the required preparer information.
it has more than one and has not been advised which to use,
Leave the paid preparer’s space blank if the return was
notify the Department of the Treasury, Internal Revenue
prepared by a regular employee of the filing organization.
Service, Ogden, UT 84201-0027. State what numbers the
organization has, the name and address to which each
Penalties
number was assigned, and the address of its principal office.
Returns required by section 170(f)(10)(F)(iii) are subject to the
The IRS will advise the organization which number to use.
penalties applicable to returns required under section 6033.
Telephone number. Enter a telephone number of the
There are also criminal penalties for willful failure to file and
organization that the IRS may use during normal business
for filing fraudulent returns and statements. See sections
hours to contact the organization. If the organization does
7203, 7206, and 7207.
not have a telephone number, enter the telephone number of
the appropriate organization official.
Other Returns You May Need To File
Application pending. If the organization’s application for
exemption is pending, check this box and complete the
Excise tax return. Section 170(f)(10)(F)(i) imposes on a
return.
charitable organization an excise tax equal to the premiums
paid by the organization on any personal benefit contract, if
Type of organization. If the organization is exempt under
the payment of premiums is in connection with a transfer for
section 501(c), check the applicable box and insert, within
which a deduction is not allowed under section 170(f)(10)(A).
the parentheses, the number that identifies the type of
section 501(c) organization the filer is. Private foundations
For purposes of this excise tax, section 170(f)(10)(F)(ii)
should enter “3” to indicate that they are a section 501(c)(3)
provides that premium payments made by any other person,
organization. If the organization is a section 4947(a)(1)
pursuant to an understanding or expectation described in
nonexempt charitable trust, a section 664 charitable
section 170(f)(10)(A), are treated as made by the charitable
remainder trust, or other section 170(c) organization, check
organization.
the applicable box.
A charitable organization liable for excise taxes under
section 170(f)(10)(F)(i) must file a return on Form 4720, Return
Part A. Personal Benefit Contracts
of Certain Excise Taxes Under Chapters 41 and 42 of the
Note. In Parts A through D, you will be reporting on personal
Internal Revenue Code, to report and pay the taxes due.
benefit contracts for which you paid premiums or received
Information returns. Generally, an organization described in
transfers during the tax year.
section 170(c) files either Form 990, Return of Organization
Use the Continuation Schedule if you have more than five
Exempt From Income Tax, Form 990-EZ, Short Form Return
personal benefit contracts to report. You may duplicate the
of Organization Exempt From Income Tax, or Form 990-PF,
Continuation Schedule and attach as many schedules as you
Return of Private Foundation or Section 4947(a)(1)
need to Form 8870. Complete the Continuation Schedule
Nonexempt Charitable Trust Treated as a Private Foundation.
following the Specific Instructions for Parts A through D.
A charitable remainder trust described in section 664(d)
However, complete line (g) on only one Continuation
files Form 5227, Split-Interest Trust Information Return.
Schedule. The figure on that Continuation Schedule should
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be the combined total of all your Continuation Schedules.
Follow the line (g) instruction on page 3 of the form to carry
If you have questions and/or need help completing Form
the line (g) total amount to Part B, page 1, line (h).
8870, please call 1-877-829-5500. This toll-free telephone
service is available Monday through Friday.
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