Exempt organizations annual reporting requirements -- Filing procedures: Late filing of annual returns


What happens if my Form 990 is filed late? (updated Jan. 25, 2024)

If an organization whose gross receipts are less than $1,208,500 for its tax year files its Form 990 after the due date (including any extensions), and the organization doesn't provide reasonable cause for filing late, the Internal Revenue Service will impose a penalty of $20 per day for each day the return is late. The maximum penalty is $12,000, or 5 percent of the organization's gross receipts, whichever is less. The penalty increases to $120 per day, up to a maximum of $60,000, for an organization whose gross receipts exceed $1,208,500.

An organization that fails to file the required information return (Form 990, Form 990-EZ, or Form 990-PF) or e-Postcard (Form 990-N) for three consecutive tax years will automatically lose its tax-exempt status.