Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - 2017 Page 24
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381. The person, and all related
controlled entity is an excess business
earlier, for information on making the
persons, made no contributions to the
holding.
foundation's annual returns and exemption
foundation during the 10-year period
application available for public inspection.
Attached schedule for transfers to
ending with the close of the tax year;
Enter the foundation's website address
controlled entities. If at any time during
2. The person, or any related person,
if the foundation has a website. Otherwise,
the tax year, the foundation made any
was never the foundation's manager
enter “N/A.”
loans or transfers to a corporation,
during this 10-year period; and
partnership, or other entity, which it
Line 15. Section 4947(a)(1) trusts.
controlled within the meaning of section
3. The aggregate contributions made
Section 4947(a)(1) nonexempt charitable
512(b)(13), attach a schedule using the
by the person, and related persons, are
trusts that file Form 990-PF instead of
format provided in the sample schedule,
determined by the IRS to be insignificant
Form 1041 must complete this line. The
Line 11—Example A, later. In column (c),
compared to the aggregate amount of
trust should include exempt-interest
describe each loan or transfer. In column
contributions to the foundation by any
dividends received from a mutual fund or
(d), enter the amount for each loan or
other person and the appreciated value of
other regulated investment company as
transfer to each controlled entity.
contributions held by the foundation.
well as tax-exempt interest received
directly.
Attached schedule for transfers from
The term “related person” includes any
controlled entities. If at any time during
other person who would be a disqualified
Line 16. Foreign accounts. Answer
the tax year, the foundation received any
person because of a relationship with the
“Yes” if either (1) or (2) below applies.
transfers of funds or payments from a
substantial contributor (section 4946).
1. At any time during the calendar
controlled entity within the meaning of
When the substantial contributor is a
year ending with or within the foundation's
section 512(b)(13), attach a schedule
corporation, the term also includes any
tax year, the foundation had an interest in,
using the format provided in the sample
officer or director of the corporation. The
or signature or other authority over, a
schedule, Line 11—Example B, later. In
term “substantial contributor” doesn't
financial account in a foreign country
column (c), describe each transfer or
include public charities (organizations
(such as a bank account, securities
payment received, including payment of
described in section 509(a)(1), (2), or (3)).
account, or other financial account); and
interest, annuities, royalties, rents,
A foreign foundation described in
a. The combined value of all such
dividends, fees or other payments for
section 4948(b) should report only
accounts was more than $10,000 at any
services, contributions to capital, and
substantial contributors that are U.S.
time during the calendar year; and
loans. In column (d), enter the amount of
citizens.
each loan or transfer from each controlled
b. The accounts weren't with a U.S.
Line 11. Controlled entities. Answer
entity.
military banking facility operated by a U.S.
“Yes” if at any time during the tax year the
financial institution.
Note. For both schedules, if additional
foundation owned a controlled entity. A
2. The foundation owns more than
space is needed, make a copy of the
controlled entity is an entity in which the
50% of the stock in any corporation that
schedule, and enter one total amount on
foundation owns more than 50% of the:
would answer “Yes” to item 1 above.
the first page of the schedule.
1. Stock (by vote or value) in a
If “Yes,” electronically file FinCEN Form
corporation,
Line 12. Distribution to a donor ad-
114, Report of Foreign Bank and Financial
vised fund. If a distribution was made
2. Interest (of profit or capital) in a
Accounts (FBAR), with the Department of
from the foundation to a donor advised
partnership, or
the Treasury using the FinCEN's BSA
fund over which the foundation or a
3. Beneficial interest of any other
E-Filing System. Because FinCEN Form
disqualified person had advisory
entity.
114 isn't a tax form, don't file it with Form
privileges, then in an attachment state
990-PF.
whether the foundation treated any
The foundation must apply section 318
distribution to a donor advised fund as a
See
for more
in determining its ownership of stock in a
qualifying distribution, and explain how the
information.
corporation and use similar principles in
distributions will be used to accomplish a
determining its ownership interests in
If you are required to file FinCEN
purpose described in section 170(c)(2)(B).
other entities.
Form 114 but don't do so, you
!
Line 13. Public inspection require-
may have to pay a penalty of up to
Attached schedule of controlled
CAUTION
$10,000 (more in some cases).
ments and website address. All
entities. If at any time during the tax year
domestic private foundations (including
the foundation was the controlling
Enter the name of each foreign country
section 4947(a)(1) nonexempt charitable
organization of a controlled entity under
in which a foreign account described on
trusts treated as private foundations) are
section 512(b)(13), attach a schedule
line 16 is located.
subject to the public inspection
listing the name, address, and EIN of each
requirements. See General Instruction Q,
controlled entity and stating whether the
Form 990-PF Instructions
-24-
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