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Unrelated business income tax returns

Due Date: For most exempt organizations, Form 990-T is due annually by the 15th day of the 5th month after the end of its tax year. For more detailed information about filing requirements and procedures, see the Form 990-T instructions.

Rate of Tax: All organizations subject to UBIT, except trusts, are taxable at corporate rates on that income.  All exempt trusts that are subject to these provisions, and that, if not exempt, would be taxable as trusts, are taxable at trust rates on unrelated business taxable income.  However, an exempt trust may not claim the deduction for a personal exemption that is normally allowed to a trust.

Public Disclosure:  An organization exempt under Internal Revenue Code section 501(c)(3) must make available for public inspection and copying any Form 990-T filed after August 17, 2006 .  These returns are also available from the Internal Revenue Service. Returns must be available for a three-year period beginning with the due date of the return (including any extension of time for filing).  For this purpose, the return includes any schedules, attachments, or supporting documents that relate to the imposition of tax on the charity's unrelated business income (and not to a form filed for another purpose, such as to obtain a refund of erroneous back-up withholding or a small business health care credit).  See Public Inspection and Disclosure of Form 990-T for more information.

Filing Form 990 and Form 990-T:  The IRS advises exempt organizations and persons who prepare returns for them that an organization's annual return and its unrelated business income tax return should be mailed in separate envelopes, and that supporting statements for Form 990-T should not be attached to an annual return.

Additional information:

Page Last Reviewed or Updated: 18-Sep-2014