The notice of termination of private foundation status via operation as a public charity should include:
- The name and address of the private foundation,
- Its intention to terminate its private foundation status,
- The Code section under which it seeks classification (section 509(a)(1), (2), or (3)),
- If section 509(a)(1) applies, the specific type of section 170(b)(1)(A) organization for which it seeks classification,
- The date its regular tax year begins, and
- The date the 60-month period begins.
The organization must also submit Form 872-B, agreeing to extend the statute of limitations for paying foundation excise taxes until after the end of the 60-month period. If it does not do so, it must pay the taxes on its investment income during the period.
Send the notice to Exempt Organizations Determinations.