Filing Responsibilities For Nonprofit Organizations
- Nonprofit organizations whose gross receipts are more than or equal to $200,000 in gross receipts or total assets more than or equal to $500,000 need to file Form 990 (Long Form).
- Nonprofit organizations whose gross receipts are less than $200,000 and $500,000 in total assets need to file Form 990-EZ (Short Form).
- Nonprofit organizations whose gross receipts are less than $50,000 need to file Form 990-N.
Due Date For Filing Form 990
The due date for filing 990 returns is on the 15th day of the 5th month after the organization’s tax year ends. If your organization operates on a calendar tax year, the due date to file Form 990 is May 15th.
It is important to file your 990 return on time to avoid IRS penalties. If your organization does not file a 990 return for three consecutive years, your tax-exempt status will be automatically revoked.
Methods To Submit Form 990
There are two methods to submit Form 990
with the IRS -
- Paper Filing
The IRS requires that organizations electronically file their 990 returns. Using an IRS-authorized e-filing provider such as IRS 990, you can ensure your return is filed accurately and securely. IRS 990 also has several features to make your filing process quick and easy.
Paper filing is where you download the Form 990 from the IRS website, fill in the necessary details and then send it to the IRS by post.
Rejection Of Submitted 990 Forms
If your nonprofit tax return is rejected by the IRS, the IRS will notify you regarding why it was rejected. With IRS 990, you can easily make corrections on your return and retransmit it for free.
Can IRS Form 990 Be Seen By Public?
Nonprofit organizations are required to make their 990 returns available for public inspection. Returns must be available for a three-year period beginning with the due date of the return (including any extension of time for filing). For this purpose, the return includes any schedules, attachments, or supporting documents that relate to the imposition of tax on the unrelated business income of the charity.
Nonprofits Who Are Exempted From Filing IRS Form 990
There are certain nonprofits that are not required to file annual information returns. These include:
- Churches and Faith based organizations such as religious Schools, missions or missionary organizations.
- Government Corporations
- Certain state institutions are exempted from filing nonprofit 990 because they provide essential services.