Public Inspection of Attachments to a 501(c)(3) Organization's Form 990-T, Exempt Organization Business Income Tax Return
This article explains which forms, schedules and supporting documents an organization exempt from tax under section 501(c)(3) of the Internal Revenue Code is not required to make available for public inspection when attached to a Form 990-T, Exempt Organization Business Income Tax Return.
Code section 6104(d)(1)(A)(ii) requires section 501(c)(3) organizations to make available for public inspection any annual return which is filed under section 6011 and which relates to any tax imposed by section 511, relating to unrelated business income. The IRS issued Notice 2008-49, 2008-20 I.R.B. 979, to provide guidance with respect to the public inspection of Forms 990-T for 501(c)(3) organizations. Notice 2008-49 provides that the definition of an annual return includes an exact copy of Form 990-T filed with the IRS after August 17, 2006, and includes any schedules, attachments, and supporting documents that relate to the imposition of tax on unrelated business income. Notice 2008-49 also states that the IRS would provide further guidance regarding forms, schedules and supporting documents that, when attached to a section 501(c)(3) organization’s Form 990-T, are not required to be made available for public inspection.
The following documents, when attached to a section 501(c)(3) organization’s Form 990-T filed after August 17, 2006, are not required to be made available for public inspection:
- Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation
- Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations
- Form 8271, Investor Reporting of Tax Shelter Registration Number [obsolete after 9/2007]
- Form 8594, Asset Acquisition Statement under Section 1060
- Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund
- Form 8832, Entity Classification Election
- Form 8858, Information Return of U.S. Persons With Respect to Foreign Disregarded Entities
- Form 8865, Return of U.S. Person with Respect to Certain Foreign Partnerships
- Form 8886, Reportable Transaction Disclosure Statement
- Form 8913, Credit for Federal Telephone Excise Tax Paid
- Form 8925, Report of Employer-Owned Life Insurance Contracts
This information will be modified by forms and instructions regarding schedules or attachments that are not required to be made available when attached to Form 990-T, or by published guidance.