A Quick Guide to the 990 Series Forms

Even after obtaining tax-exempt status, organizations must report their financial details, activities, and certain other information by filing an annual 990 return.

Based on information regarding their gross receipts and assets, organizations will file the applicable form.

Which 990 Form(s) Should I File?

• Form 990-N: Filed by organizations with gross receipts of less than or equal to $50,000.
• Form 990-EZ: Filed by organizations with gross receipts less than $200,000 and assets less than $500,000.
• Form 990: Filed by organizations with gross receipts greater than or equal to $200,000 and assets greater than or equal to $500,000.
• Form 990-PF: Filed by private foundations to determine tax based on investment income and to report charitable distributions/activities.
• Form 990-T: Filed by organizations that filed form 990 or 990-EZ and also have unrelated business income of $1000 or more during the tax year.
• Form CA-199: Filed by organizations that obtained tax-exempt status from the California State and Nonexempt charitable trusts to report financial information to Franchise Tax Board (FTB).
• Form 8038-CP : Filed by issuers of certain bonds to claim a refundable credit payment from the Federal Government equal to a percentage of the interest payments on those bonds.
• Form 1120-POL : Filed by certain tax-exempt organizations to report their political organization taxable income.
• Form 8868: Filed by organizations to get an automatic 6-month extension to file their annual tax returns.

Can I File a Form Other Than the One I Qualify For?

Although Forms 990, 990-EZ, and 990-N are intended for organizations with varying levels of income, there is some leeway. If your organization qualifies for 990-N filing (gross receipts less than or equal to $50,000), you can still choose to file a 990-EZ or 990.

Similarly, if you qualify for 990-EZ filing (gross receipts less than $200,000), you can elect to file a long form 990. If your organization has a gross receipt total over the limit of a form, however, you cannot file that form. For example: if your organization’s gross receipts total $100,000, you can file a Form 990 or short form 990-EZ–but you cannot file a Form 990-N.

If your organization is classified as a private foundation, the only form you may file is Form 990-PF.

What if I Filed a Different Form Last Year?

If you previously filed a version of the form and wish to file a different version this year, you can do so as long as your organization’s gross receipts do not exceed the form limit. For example: if you filed Form 990 last year but qualify to file Form 990-EZ instead, you can choose to do so.

Filing a 990 series form may seem like a lot at first, but knowing the basics goes a long way towards getting done with paperwork and getting out into the community. For more information on the different types of forms, you can visit the IRS website here. Happy filing!