Tax990 Knowledge Base

When is an organization required to File Schedule K with Form 990?

Form 990 Schedule K is generally filed by organizations along with its Form 990 return to report information on their outstanding liabilities associates with tax-exempt bond issues.
 
Schedule K must be filed by organizations if it performs any one of the following activity:

• Reported an outstanding tax-exempt bond issue with an outstanding principal amount of over $100,000 on the last day of the tax year.
   
• Reported an outstanding tax-exempt bond issue that was issued after December 31, 2002.

However, an organization can only report up to 4 outstanding tax-exempt liabilities in a Schedule K form. In more than four outstanding tax-exempt liabilities, the schedule can be duplicated by the organization to report the additional tax-exempt liabilities.

If your organization is required to report schedules other than A, B, and G, we recommend choosing our interview-based filing method.