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Private Foundation Excise Tax Return (Form 4720)

An organization that has violated a tax rule that makes it liable for private foundation excise taxes must file Form 4720 , Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code, to report and pay such taxes.  For initial taxes imposed under sections 4941 through 4944, Form 4720 must be filed for each year (or part of a year) in the taxable period as defined in those sections.  For initial taxes imposed under section 4945 , Form 4720 should be filed for the year in which an act giving rise to liability occurred.

If a person, other than the private foundation, is liable for an excise tax in connection with the transaction reported on Form 4720 (e.g., a self-dealer or participating foundation manager), he or she may, by completing the appropriate parts and executing the organization’s Form 4720 in his or her individual capacity, satisfy his or her individual filing requirements.  Otherwise a separate Form 4720 must be filed.  The excise tax due from the foundation and other persons joining in the return must accompany Form 4720.

In addition, for taxable years beginning after December 31, 2006, a charitable remainder trust must file Form 4720 if it has unrelated business taxable income.

Additional information

 


Return to Life Cycle of a Private Foundation

 

Page Last Reviewed or Updated: 25-Apr-2014