Do all Form 990 and Form 990-EZ filers need to file Schedule L?
No. Only Form 990 filers that answer Yes to any of the questions in Form 990, Part IV, lines 25-28 must complete and file the applicable part(s) of Schedule L. An organization that files Form 990-EZ must complete Schedule L, Part I if it answers Yes to Form 990-EZ, line 40b. It must complete Schedule L, Part II if it answers Yes to Form 990-EZ, line 38a. Form 990-EZ filers are not required to complete Schedule L, Parts III or IV.