Exempt Organizations Annual Reporting Requirements - Form 990, Part X: Do Not Report Board Member's Purchase of Tax-Exempt Bonds in Open Market


Should our board member’s purchase on the open market of tax-exempt bonds that we issued be reported as a loan in Schedule L, Part II, Form 990?

No, a governing board member’s purchase of tax-exempt bonds from the filing organization does not need to be reported on Schedule LPDF, Part II, so long as the board member purchases the bonds on the same terms as are offered to the general public.

Additional information

Schedule L instructionsPDF