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Automatic Exemption Revocation for Non-Filing: Effect on Private Foundation

My organization is a private foundation and appears on the Auto-Revocation List. Is the organization still treated as a private foundation? Is the organization required to continue filing Form 990-PF?

A private foundation listed on the Automatic Revocation of Exemption List  for failure to file Form 990-PF for three consecutive years automatically loses its tax-exempt status, but remains classified as a private foundation. A nonexempt private foundation must continue to file Form 990-PF every year, and remains subject to excise taxes. A nonexempt, or taxable, private foundation may also be required to file a federal income tax return (Form 1120 or Form 1041) and pay any applicable income taxes.

A nonexempt private foundation can only terminate its private foundation status under the provisions of section 507 of the Internal Revenue Code. See Terminating Private Foundation Status.

Additional information

 

Page Last Reviewed or Updated: 11-Oct-2016