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Form 990 PF - Key Takeaways
What is IRS Form 990-PF?
Form 990-PF is an annual information return filed by private foundations to report financial information and activities to the IRS.
Who is eligible to file 990-PF?
Private Foundations described in Section 501(c)(3), holding exemptions under Sections 501(a) and 4947(a)(1) are required to file 990-PF.
When is Form 990-PF Due?
The due date for filing Form 990-PF is the 15th day of the 5th month after the end of the organization’s accounting period.
Tax990 Enables Seamless 990-PF E-Filing with Exclusive Features
Tired of complicated tax filing? Tax990 is here to simplify the process, making filing your 990-PF easy and stress-free!
Form Preparation Options
Choose between our Direct-Form entry and Interview-Style filing methods to prepare your forms, offering flexibility over your filings.
Internal Audit Check
Built-in error checks review your completed forms to identlify any IRS instruction errors.
Includes 990-PF Schedule B
Based on the data you provide on the Form 990-PF, our system automatically adds the required Schedule B for you at no extra cost.
Live Customer Support
Our support team is here to help! Reach out to us via live chat, phone, or email.
Copy Data Option
Copy specific information from prior returns filed with Tax990 to your current year's 990-PF.
Supports Extension
If you need more time to file, you can get a 6-month extension by filing Form 8868 with us.
Our streamlined interface guides you seamlessly through each step of the 990-PF filing process, making compliance effortless and worry-free.
Exclusive PRO Features for Tax Professionals to File 990-PF!
Easily manage multiple clients with Tax990. Organize unlimited organizations and their tax filings—all from a single account.
Staff Management
Invite your team members and let them prepare and transmit the 990 filings for your clients. You can assign them specific roles and keep track of their activities
Client Management
Prepare and manage 990 filings for unlimited clients (multiple EINs) and have your clients review the returns through a secure portal before transmission.
E-Signing Options
Get returns e-signed in minutes using Form 8453-TE (for Paid Preparers) and Form 8879-TE (for Electronic
Return Originators).
Flexible Pricing
Our volume-based pricing packages allow you to save more on your filings while ensuring tax compliance for your clients.
Bulk Upload Templates
Tax 990 makes it easy for clients to upload their details in bulk using Excel/CSV templates. Save time and simplify your data entry.
Data Security
Our servers are HackerProof and COMODO Certified, ensuring that all personally identifiable information (PII) is encrypted and securely stored.
Ready to File 990-PF for your clients?
How to File Form 990-PF Electronically?
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Just enter your EIN and let our system pull up your foundation details from the IRS directly. If not, you can enter the details manually instead.
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With Tax990, you can file Form 990-PF for both the current and previous tax years. So, choose the applicable tax year, select Form 990-PF, and proceed.
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Tax990 offers Form-based and Interview-Style filing options to prepare your Form 990-PF. Choose the method you prefer and complete the form.
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Review the summary of your Form 990-PF and make changes if required. You can also share your form with foundation members for their review and approval.
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You can transmit the form to the IRS after reviewing it. Our system provides instant updates about the IRS status of your Form 990-PF via email and text.
Ready to E-file Form 990-PF?
Information Required to E-file Form 990-PF Online
Here is the list of key information you’ll need to file 990-PF online,
- The organization’s basic information
- Financial information such as revenue, expenses, assets, and liabilities
- Program service accomplishments
- Other IRS filings and tax compliance requirements
- Key personnel, governing body, and management details
Learn more about step-by-step instructions on 990-PF
Trusted by Nonprofits Everywhere
Tax990 Revolutionizes the Tax Filing Process for Nonprofits like Yours!
Hear From Our Happy Clients
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Owner EO Tax Services LLC
I found Tax990 to be user friendly, accurate, concise, inexpensive and easy to navigate. The response from the help team is prompt and correct. I've been doing these for years. I would recommend others do the same.
Wilfred C. Bussing, III
Attorney, Cecil A And Mabel Lene Hamman Foundation Inc.,
Tax990 has benefited the filing process, that it's so much easier than trying to do it by hand filing. It's quicker and it's far more accurate because of the audit feature. I wish I had been using it for a long time.
Adrian Dieleman
Treasurer, Rotary International.
I love the simplicity of Tax990 because if I made any mistakes, it will alert me. Technical support person literally got me on the phone and walked me through the process. Tax990 is very user friendly and the software is very easy to navigate.
Dr. Wesley Proctor
Founder and Board President, Wesley Proctor Ministries.
I’ve been using Tax990 for three years now. I use any number of different services but I didn't find a single one of them had everything I needed. Another great thing I find is that the support people are quite responsive, they’re quick, they're accurate and they’re reliable.
Jeff Moskovitz
Director of Financial Operations, Biomedical Research and Longevity Society, Inc.
We were really happy to find Tax990. We weren’t excited about going to e-file when the mandate came out but after using Tax990, it really has helped with the process because I don't miss things by having remainders. Walked through all the different sections. It has helped me be able to complete the forms without having to hire a CPA.
Susan Onan-Schwartz
Executive Director, Brickways.
Tax990 makes it so easy to go through every question function to fill in the taxes. Tax990 makes everything in the same place and we don't go through any hassles. I would definitely recommend it to all nonprofits.
Lillian Alonzo Marin
Executive Director, Artistic Dreams International Inc.
Tax990 has really benefited our annual filing process because it cuts down the amount of time we have to file and get all of our paperwork in because instead of going through a third person we can just directly enter all information
and do it all in one day.
Casey Cruciano
Operations Manager, Christian Surfers Of North America.
I found Tax990 to be user friendly, accurate, concise, inexpensive and easy to navigate. The response from the help team is prompt and correct. I've been doing these for years. I would recommend others do the same.
Robert Michael Sorrells
Owner EO Tax Services LLC
Fees to File Form 990-PF Online
- Includes Schedule B
- Copy prior year data
- Built-in error check system
- Invite users to review and approve
- Retransmit rejected returns for free
Ready to e-file Form 990-PF?
Frequently Asked Questions IRS Form 990-PF
How many parts are there in Form 990-PF?
Form 990-PF comprises 16 parts (Some parts are optional for certain organizations) Here is an overview of all the parts in Form 990-PF:
- Part I - Analysis of Revenue and Expenses
- Financial information such as revenue, expenses, assets, and liabilities
- Part II - Balance Sheets
- Part III - Analysis of Changes in Net Assets or Fund Balances
- Part IV - Capital Gains and Losses for Tax on Investment Income
- Part V - Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948)
- Part VI - Statements Regarding Activities
- Part VII - Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors
- Part VIII - Summary of Direct Charitable Activities and Program-Related Investments
- Part IX - Minimum Investment Return
- Part X - Distributable Amount
- Part XI - Qualifying Distributions
- Part XII - Undistributed Income
- Part XIV - Supplementary Information
- Part XV - Analysis of Income-Producing Activities and Relationship of Activities to the Accomplishment of Exempt Purposes
- Part XVI - Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
Check out our step-by-step instructions to understand how to complete Form 990-PF.
What are the additional filing requirements for Form 990-PF?
- Private foundations that file Form 990-PF may be required to attach Schedule B, depending on the data they reported.
- Schedule B is typically filed when a private foundation has received contributions of $5000 or more from any one contributor during the corresponding tax year. Learn more about Schedule-B
Should Form 990-PF be filed electronically?
Yes! The IRS mandates that Form 990-PF must be filed electronically for tax years ending on or after July 31, 2020 (per the Taxpayer Act of 2019).
Get Started with Tax990 and file your Form 990-PF electronically with the IRS. We support current (2024) and prior year filings (2023, 2022).
Can I get an extension to file Form 990-PF?
- Yes! If your foundation needs more time to file Form 990-PF, you can file Form 8868 to extend your 990-PF deadline. Upon filing Form 8868 on or before the original deadline, the IRS will grant an automatic 6-month extension.
- This means if your organization follows the calendar tax year and files an extension, your extended 990-PF deadline will be November 15.
What are the penalties for filing Form 990-PF late?
- For smaller organizations with gross receipts < $1,208,500, the penalty for late filing Form 990-PF is $20/day. The maximum penalty is $12,000 or 5% of the foundation’s gross receipts (whichever is less).
- For larger organizations with gross receipts > $1,208,500, the penalty for late filing Form 990-PF is $120/day. The maximum penalty is $60,000 or 5% of the foundation’s gross receipts (whichever is less). Learn more about 990-PF penalties.
Can I file Form 990 or 990-EZ instead of Form 990-PF?
No, A Private foundation cannot choose to file Form 990 & Form 990-EZ. They are required to file Form 990-PF, irrespective of their gross receipts and assets.
If my organization has zero gross revenue, do I still need to complete the 990-PF?
Yes, Even if the foundation has no gross income in the tax year and has incurred losses on investments, it is still required to file Form 990-PF annually.
Do Private Foundations that file Form 990-PF Need to pay taxes?
Generally, Private foundations hat obtain exempt status from the IRS are not required to pay federal income taxes. However, a domestic exempt private foundation, a domestic taxable private foundation, or a nonexempt charitable trust treated as a private foundation must make estimated tax payments for the excise tax based on investment income if it can expect its estimated tax to be $500 or more.
