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Exempt Organizations Annual Reporting Requirements - Form 990, Schedule R: Reporting Related Party Transactions

Schedule R, Part V, Form 990, requires reporting of transactions between the filing organization and its related organizations. Do all transactions between the filing organization and its related organizations have to be reported?

No.  Schedule R, Part V, line 1, requires check-box reporting of whether the organization was engaged in certain kinds of transactions with any related organizations.  The following transactions must be reported in greater detail in line 2:

  • All transactions described in line 1a, which includes all receipts or accruals of interest, annuities, royalties or rent from a controlled entity under section 512(b)(13), regardless of amount.
  • Transactions described in lines 1(b) through 1(s) with controlled entities if the amounts involved during the tax year between the filing organization and a particular controlled entity exceed $50,000.

Section 501(c)(3) organizations must report additional information on line 2. Such organizations:

  • Must report transactions with related tax-exempt organizations not described in section 501(c)(3) (including section 527 political organizations).
  • In particular, must report the name of the related organization, the type of transaction and the amount involved during the filing organization’s tax year (even if the transaction was entered into by the parties in a prior year).
  • Should aggregate transactions of the same type with the same related organization.
  • May disregard and not report transactions of a specified type with a particular organization if the total amounts related to those transactions during the tax year do not exceed $50,000.

Additional information

Schedule R instructions