Additional Filing Requirements

The Pension Protection Act of 2006 imposed a new filing requirement for certain exempt organizations.

For returns filed after August 17, 2006 (excluding extensions), organizations that are controlling organizations within the meaning of Internal Revenue Code section 512(b)(13) and that are required to file a Form 990, Form 990-EZ, or Form 990-PF, must attach the following information to their returns:

• A list of the amount of any interest, annuities, royalties or rents received from each controlled entity (within the meaning of section 512(b)(13)).
• A list of any loans made to each controlled entity.
• A list of any transfer of funds between the controlling organization and each controlled entity.

Organizations filing paper returns should write "IRC Section 6033(h) Reporting Requirement" at the top of the new attachment. -- 25-AUG-2006

New Disclosure Requirement

The Pension Protection Act of 2006 imposed a disclosure requirement for charitable organizations regarding unrelated business taxable income.

Beginning with any annual return filed under section 6011 of the Internal Revenue Code after August 17, 2006, all charitable organizations filing returns relating to unrelated business taxable income must make their returns and exemption application materials available for public inspection.

This new disclosure requirement only applies to organizations described in section 501(c)(3) and does not apply to nonexempt private foundations or nonexempt charitable trusts. This new requirement will allow the existing section 6104(d)(3) exceptions from the disclosure requirements and is subject to the existing penalties for failing to meet the disclosure requirements. -- 25-AUG-2006

Last update -- 01-DEC-2007