Does your department generate revenue from activities not directly related to the education of current enrolled students? If so, your department could be generating potential sources of unrelated business income that must be reported to the Internal Revenue Service. Generating additional income that is reportable is not against any rules; however, the failure to report additional income appropriately could lead to penalties from the IRS. Your assistance in identifying potential unrelated business income is necessary to keep the institution in compliance with the IRS.

The Unrelated Business Income Tax Questionnaire form linked below is used to help determine if the revenue should be reported as unrelated business income. Your department contact will need to fill in the questionnaire and select the types of unrelated business income activities applicable to your department.  Please provide all information related to the activities. This form is only used for determination if reporting is needed. Completing the questionnaire does not mean the activity is going to be reported as income to the IRS. 

Once submitted, the questionnaire will be reviewed to determine if the income is considered unrelated business income for tax purposes. Your department contact will be notified accordingly. If you have questions, you can email tax@untsystem.edu.

Unrelated Business Income Activities Questionnaire