Instructions For Form 4720 (2015) (Page 6 of 19) in pdf

premium on a personal benefit contract

enter the amount shown as unrelated

prohibited tax shelter transaction from

for the transferor, include those

business taxable income on Part I,

Schedule J, Part II, column (d).

premium payments in the amount

line 11 of Form 4720.

Column (j). Enter for each person

entered on this line.

Part IIA

listed in column (a) the tax on taxable

distributions from sponsoring

A personal benefit contract is (to the

Columns (a) and (b). List the names,

organizations maintaining donor

transferor) any life insurance, annuity, or

addresses, and taxpayer identification

advised funds from Schedule K, Part II,

endowment contract that benefits

numbers of all persons who owe tax in

column (d), that the individual took part

directly or indirectly the transferor, a

connection with the foundation or

in as a manager.

member of the transferor's family, or any

organization, whether as managers,

other person designated by the

Column (k). For each person listed in

self-dealers, disqualified persons,

transferor (other than an organization

column (a), enter the:

donors, donor advisors, or related

described in section 170(c)).

persons, as shown in Schedules A, D,

1. Tax imposed on a donor, donor

E, F, H, I, J, K, and L.

advisor, or related person, from

For more information, see Notice

Schedule L, Part II, column (d), and

Column (c). For each person listed in

2000-24, 2000-17 I.R.B. 952, at

2. Tax on each fund manager who

column (a), enter the sum of:

agreed to the making of a distribution of

1. Taxes that person owes as a

a prohibited benefit from Schedule L,

self-dealer, from Schedule A, Part II,

Line 11

Part III, column (d), that the individual

column (d), and

Enter the charitable remainder trust's

took part in as a manager.

2. Tax for acts of self-dealing in

unrelated business taxable income on

Liability for tax. A person's liability

which the individual participated as a

line 11. Charitable remainder trusts

for tax as a manager, self-dealer,

manager, from Schedule A, Part III,

must attach a statement that shows how

disqualified person, donor, donor

column (d).

their unrelated business taxable income

advisor, or related person, under

was computed. The excise tax imposed

Column (d). Enter for each person

sections 4912, 4941, 4944, 4945, 4955,

on a charitable remainder trust is equal

listed in column (a) the tax on jeopardy

4958, 4966, and 4967 is joint and

to the trust's unrelated business taxable

investments from Schedule D, Part II,

several. Therefore, if more than one

income.

column (d), that the individual took part

person owes tax on an act as a

Attached statement. Charitable

in as a foundation manager.

manager, self-dealer, disqualified

remainder trusts may use Form 990-T

person, donor, donor advisor, or related

Column (e). Enter for each person

as the attached statement. If the trust

person, they may apportion the tax

listed in column (a) the tax on taxable

uses Form 990-T as the attached

among themselves. However, when all

expenditures from Schedule E, Part II,

statement, complete Form 990-T as

managers, self-dealers, donors, donor

column (d), that the individual took part

follows:

advisors, related persons, or

in as a foundation manager.

disqualified persons who are liable for

1. Write “ATTACHMENT TO FORM

Column (f). Enter for each person

tax on a particular transaction under

4720” at the top of page 1.

listed in column (a) the tax on political

sections 4912, 4941, 4944, 4945, 4955,

2. Enter the trust's name under

expenditures from Schedule F, Part II,

4958, 4966, or 4967 pay less than the

“Name of organization” and complete

column (d), that the individual took part

total tax due on that transaction, then

item D and E at the top of page 1.

in as an organization or foundation

the IRS may charge the amount owed to

3. Complete Parts I and II. If a line

manager.

one or more of them regardless of the

does not apply, leave it blank.

tax apportionment shown on this return.

Column (g). Enter for each person

4. Complete any of the Schedules

listed in column (a) the tax on

Part IIB

on Form 990-T or other forms or attach

disqualifying lobbying expenditures from

a schedule as required by any line on

Line 1. If there is more than one signer

Schedule H, Part II, column (d), that the

which an entry is made for Parts I and II.

for this return, see Tax Payments,

individual took part in as an organization

Also, attach any schedule as may be

earlier.

manager.

required on any Schedule on Form

Line 3. List total payments here,

Column (h). For each person listed in

990-T or other form that you are

including amounts paid on extension(s)

column (a), enter the sum of:

required to complete. However, if

with Form 8868. See the discussion on

Schedule D (Form 1041) is required, do

1. Taxes that person owes as a

Extensions, earlier, for details on

not complete Part V of Schedule D

disqualified person, from Schedule I,

amounts paid with extensions.

(Form 1041).

Part II, column (d), and

Line 4. Enter the tax due on this line.

5. Enter the amount from line 34 of

2. Tax on excess benefit

(Make check(s) or money order(s)

Form 990-T on Part I, line 11 of Form

transactions in which the organization

payable to the United States Treasury.)

4720. Do not complete Parts III-V or the

manager participated knowing that the

signature area of Form 990-T.

transaction was an excess benefit

Line 5. This is your refund. If various

transaction, from Schedule I, Part III,

persons (individuals or organizations)

If you do not complete a Form 990-T

column (d).

have overpaid their taxes, please have

as the attached statement, then attach a

each person request only his, her, or its

schedule with the same information as

Column (i). Enter for each person

legal share of the refund. This can be

Form 990-T and its Schedules (as

listed in column (a) the tax on the entity

shown on an attachment to the Form

discussed above) including all the

manager who approved or otherwise

4720. Only persons with a legal right to

information that must be attached to

caused the entity to be a party to a

a refund should file a refund request

Form 990-T and its Schedules, such as

here.

other forms and attachments. Be sure to

Instructions for Form 4720 (2015)

Instructions For Form 4720 (2015) Page 6

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