Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - 2017 Page 11
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38print the document without special
Exempt or Political Organization IRS
domestic private foundation. To pay any
computer hardware or software required
Form. Generally, there is a charge for
tax due, see the instructions for Part VI,
for that format (except software that is
photocopying.
line 9. A foreign foundation doesn't
readily available to members of the public
complete Form 990-PF Parts IV and V.
The IRS can provide copies of exempt
without payment of any fee) and without
organization returns on DVD. Requesters
Under section 4948(b), sections 507
payment of a fee to the private foundation
can order the complete set (for example,
and 508 and chapter 42 (other than
or to another entity maintaining the web
all Forms 990 and 990-EZ or all Forms
section 4948) don't apply to a foreign
page.
990-PF filed for a year) or a partial set by
organization that from the date of its
3. Reliability and accuracy
state or by month. If you are ordering a
creation has received at least 85% of its
requirements—To meet this, the entity
partial set on DVD, indicate the format
support (as defined in section 509(d),
maintaining the website must:
(Alchemy or raw), state(s), and month(s)
excluding gross investment income) from
Have procedures for ensuring the
you are ordering. Sample DVD requests
sources outside the United States. The
reliability and accuracy of the document
aren't available for individual states. DVDs
foreign foundation's section 501(c)(3)
that it posts on the page;
and sample DVDs aren't available for
status can be revoked, however, if it
Take reasonable precautions to prevent
individual exempt organizations. Complete
commits a violation of chapter 42 (other
alteration, destruction, or accidental loss
information, including the cost, is available
than section 4942) after receiving a
of the document when posted on its page;
on the IRS website. Search “Copies of
warning of a violation from the IRS, or if it
and
Scanned EO Returns Available” at
commits a willful and flagrant violation. A
Correct or replace the document if a
IRS.gov/Charities- &-Non-Profits/Copies-
foreign foundation described in section
posted document is altered, destroyed, or
of-Scanned-EO-Returns-Available.
4948(b) doesn't complete Form 990-PF
lost.
Parts X (unless claiming status as an
You may also call 1-877-829-5500 or
4. Notice requirement—To meet this,
operating foundation), XI, XIII, and XV,
write to the address below for details.
a private foundation must notify any
isn't required to send a copy of its annual
individual requesting copies of its annual
return to a state official, and isn't required
Internal Revenue Service
returns and/or exemption application
to comply with the public inspection
RAIVS Unit MS:6716
where the documents are available
requirements for annual returns (see
Ogden, UT 84201
(including the Internet address). If the
General Instructions G and Q, earlier). The
request is made in person, the private
foundation must attach a computation of
R. Disclosures Regarding
foundation must notify the individual
the 85% test to the return.
immediately. If the request is in writing, it
Certain Information and
must notify the individual within 7 days of
Taxable foreign private foundations
Services Furnished
receiving the request.
and foreign section 4947(a)(1) nonexempt
A section 501(c) organization that offers to
charitable trusts aren't subject to excise
sell or solicits money for specific
tax under section 4948(a) or 4940, but are
Penalties
information or a routine service to any
subject to income tax under subtitle A of
A penalty may be imposed on any person
individual that could be obtained by the
the Code.
who doesn't make the annual returns
individual from a federal government
(including all required attachments to each
agency free or for a nominal charge must
For these purposes, U.S. territories are
return) or the exemption application
disclose that fact conspicuously when
considered part of the United States, and
available for public inspection according to
making such offer or solicitation.
thus territories' organizations aren't
the section 6104(d) rules discussed
considered foreign organizations.
above. If more than one person fails to
Any organization that intentionally
comply, each person is jointly and
disregards this requirement will be subject
T. Liquidation, Dissolution,
to a penalty for each day the offers or
severally liable for the full amount of the
Termination, or
penalty. The penalty amount is $20 for
solicitations are made. The penalty is the
Substantial Contraction
each day during which a failure occurs.
greater of $1,000 or 50% of the total cost
The maximum penalty that may be
of the offers and solicitations made on that
If there is a liquidation, dissolution,
day.
imposed on all persons for any one annual
termination, or substantial contraction
return is $10,000. There is no maximum
(defined below) of the organization, attach
S. Organizations
penalty amount for failure to make the
the following to the return.
exemption application available for public
Organized or Created in a
A statement to the return that describes
inspection.
the transaction.
Foreign Country
A certified copy of the liquidation plan,
Any person who willfully fails to comply
If the organization applies any provision of
resolution, etc. (if any) and all
with the section 6104(d) public inspection
any U.S. tax treaty to figure the
amendments or supplements that weren't
requirements is subject to an additional
foundation's taxable income, tax liability,
previously filed.
penalty of $5,000.
or tax credits in a manner different from
A schedule that lists the names and
these instructions, attach an explanation.
Requirements Placed on the
addresses of all recipients of assets.
An explanation of the nature and fair
IRS
Section 4948(a) imposes a 4% tax on
market value of the assets distributed to
the gross investment income (but not
A private foundation's Form 990-PF,
each recipient.
capital gain net income) of an exempt
990-T, and approved exemption
foreign private foundation from U.S.
Additional requirements. For a
application may be inspected by the public
sources, such as dividends, interest,
complete corporate liquidation or trust
at an IRS office for your area or at the IRS
rents, payments received on securities
termination, attach a statement as to
National Office in Washington, DC.
loans as defined in section 512(a)(5), and
whether a final distribution of assets was
To request a copy or to inspect a Form
royalties. Amounts taken into income on
made and the date it was made (if
990-PF, 990-T, or an approved exemption
Form 990-T are excepted. The section
applicable).
application, complete Form 4506-A,
4948(a) tax replaces the section 4940 tax
Also, an organization must indicate:
Request for Public Inspection or Copy of
on the net investment income of a
Form 990-PF Instructions
-11-
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