Termination of a Section 527 political organization

When you dissolve your organization, you should notify the IRS so that we will no longer expect you to file notices and returns. To do this, file appropriate final reports and returns. In addition, a political organization must transfer excess funds within a reasonable period of time for specified purposes; otherwise, excess funds are treated as expended for the personal use of (and therefore taxable income to) the candidate or other person having control of the funds.