My organization was terminated. What do I need to know before filing the final Form 990-PF?
473 views | Last modified 12/27/2023 8:10:39 AM EST |

When an organization is terminated, certain information must be disclosed. Follow the steps below to file your organization’s final Form 990-PF

  1. In the header area E of page 1: If all assets were distributed to a qualified public charity (see Instructions for Form 990-PF), check the box for termination of private foundation status under section 507(b)(1)(A);
  2. In header area G of page 1: Check the Final return box to indicate that this is the final return. 
  3.  In Part VI-A, Statements Regarding Activities, Line 5, answer “Yes” to “Was there a liquidation, termination, dissolution, or substantial contraction during the year?”
  4. Tax990 supports adding statements and uploading PDFs. Prepare an attachment to Form 990-PF that includes
    • A description of each transaction you made in the conclusion of your organization's activities.
    • A certified copy of the liquidation plan, resolution, etc. (if any) and all amendments or supplements that weren't previously filed.
    • A list showing the names and addresses of each recipient of the assets.
    • An explanation of the nature and fair market value of the assets distributed to each recipient.
    • For a complete corporate liquidation or trust termination, attach a statement as to whether a final distribution of assets was made and the date it was made (if applicable).
       

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