Answers

When is a new nonprofit's first Form 990 due?

Updated by Alleviate. Facts carry the date they were true.

The first Form 990 series return is due on the 15th day of the fifth month after the organization's first fiscal year ends, which is May 15 for a calendar year organization. Which form (990-N, 990-EZ or 990) depends on gross receipts and assets for that year.

The date

The due date is set by the fiscal year end, not by the date of the determination letter. A calendar year organization files by May 15; an organization with a June 30 year end files by November 15. If the day falls on a weekend or a federal holiday, the due date moves to the next business day. The first return covers the first tax year, which is often a short year that began on the date of incorporation.

Form 8868 extends the 990 and 990-EZ by six months automatically. It does not apply to the 990-N, which has no extension.

Which form

Form 990-N (the e-Postcard) is for organizations whose gross receipts are normally $50,000 or less. Form 990-EZ is for organizations with gross receipts under $200,000 and total assets under $500,000. Form 990 is for everyone else. Private foundations file Form 990-PF regardless of size. An organization may file a fuller form than it is required to.

Why the first one matters

An organization that fails to file a required return for three consecutive years loses its tax exempt status automatically, and getting it back means applying again. State charitable registration is a separate obligation with its own dates in most states, usually before the first solicitation and then annually.

Alleviate's Start Right calendar reads the ruling date and fiscal year end from the IRS record for an EIN and puts the first year's dates on a calendar with reminders; the compliance module keeps the following years.

The figures

  • Due date: 15th day of the 5th month after the fiscal year ends; May 15 for a calendar year
  • 990-N: gross receipts normally $50,000 or less; 990-EZ: gross receipts under $200,000 and total assets under $500,000; 990: all others; 990-PF: private foundations
  • Extension: Form 8868, six months, for the 990 and 990-EZ; none for the 990-N
  • Automatic revocation after three consecutive missed returns

Who it is not for

  • This page is general information from the IRS instructions, not tax advice. An organization with a short first year, a change of fiscal year or group exemption questions should ask a CPA.

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