[E-file Error Code F990PF-007-01] How do I resolve it?
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IRS Error Code F990PF-007-01

If the domestic foundation meets the requirement of the Section 4940(e), the net value of the noncharitable-use assets for the current year of the Qualification Under Section 4940(e) for Reduced Tax on Investment Income must be equal to the net value of noncharitable-use assets of the Minimum Investment Return.

What does it mean:

For the foundation that met the requirement of Section 4940(e), the net value of the noncharitable-use assets of the Qualification Under Section 4940(e) for Reduced Tax on Investment Income doesn't match the net value of noncharitable-use assets of the Minimum Investment Return.

Resolution:

If your private foundation meets the requirement of Section 4940(e), make sure the net value of the noncharitable-use assets of the Qualification Under Section 4940(e) for Reduced Tax on Investment Income matches the net value of noncharitable-use assets of the Minimum Investment Return.

We'll keep you informed on the status of the return once we hear back from the IRS.

For any further assistance, we recommend contacting the IRS e-Help Desk Toll-Free Number 1-866-255-0654.