Form 990 is an annual tax form that certain tax-exempt organizations must file with the Internal Revenue Service (IRS). The form provides information about the organization’s finances, activities, and governance.

Who must file Form 990?

Form 990 must be filed the following types of

  • 501(c)(3) organizations, which are charities, religious organizations, and other nonprofits that do not have shareholders or members
  • 501(c)(4) organizations, which are social welfare organizations that promote social welfare but do not lob for or against legislation
  • 501(c)(6) organizations, which are business leagues that promote the common business interests of their members
  • 501(c)(7) organizations, which are social clubs that are not organized for profit
  • 501(c)(12) organizations, which are farmers’ cooperatives
  • 501(c)(13) organizations, which are cemetery companies

When must Form 990 be filed?

Form 990 must be filed the 15th day of the fifth month following the end of the organization’s fiscal year. For example, Form 990 for the fiscal year ending December 31, 2022, must be filed May 15, 2023.

How do I file Form 990?

Form 990 can be filed electronically or on paper. To file electronically, you must create an account with the IRS’s e-file website. To file on paper, you can download the form from the IRS website or request a paper form calling the IRS.

What information do I need to file Form 990?

You will need to have the following information on hand when you file Form 990:

  • Your organization’s tax identification number (EIN)
  • The organization’s name, address, and phone number
  • The organization’s fiscal year
  • The organization’s financial information, including revenue, expenses, and assets
  • The organization’s activities, including its programs, services, and fundraising
  • The organization’s governance, including its board of directors and officers

What are the penalties for not filing Form 990?

The IRS imposes penalties for not filing Form 990 on time or for not providing complete and accurate information. The amount of the penalty depends on the severity of the violation.

How can I get help with Form 990?

If you need help with Form 990, you can contact the IRS for assistance. The IRS offers a variety of resources to help taxpayers, including a help line, a website, and publications.

What are the benefits of filing Form 990?

Filing Form 990 can have several benefits for tax- including:

  • Increased transparency: Form 990 is a public document, so it can help to increase transparency and accountability of tax-exempt organizations.
  • Improved governance: Form 990 can help organizations exempt organizations, to identify areas where their governance could be improved.
  • Increased funding: Some funders require organizations to file Form 990 before they will consider providing funding.
  • Reduced risk: Filing Form 990 can help to reduce the risk of an audit the IRS.