When Are Foundation Tax Returns Due?

Understanding tax obligations for non-profit organizations, especially foundations, involves specific filing requirements. Foundations have unique reporting responsibilities to ensure transparency and compliance with federal regulations governing their tax-exempt status. Knowing the forms and deadlines is essential for maintaining good standing with the Internal Revenue Service (IRS).

Identifying Your Foundation for Tax Purposes

The IRS classifies every 501(c)(3) organization as either a public charity or a private foundation. This distinction directly impacts reporting requirements and compliance rules. A private foundation is a 501(c)(3) organization that does not receive substantial public support or is not excluded from the definition, such as churches, schools, hospitals, or broadly publicly supported organizations.

These foundations derive support from limited sources, such as an individual, family, or corporation. This concentrated funding leads to greater control by founders or their representatives. Unlike public charities, private foundations are subject to more stringent tax laws and regulations, including rules on self-dealing, minimum distribution requirements, and limitations on business holdings.

Key Federal Tax Return Deadlines

Private foundations file annual financial information with the IRS using Form 990-PF, “Return of Private Foundation or Section 4947 Trust Treated as Private Foundation.” The standard deadline for filing is the 15th day of the fifth month following the end of the organization’s accounting period. This means the due date depends on the foundation’s fiscal year.

For example, a calendar year foundation (tax year ending December 31st) has a Form 990-PF filing deadline of May 15th of the following year. A foundation with a fiscal year ending June 30th must file its Form 990-PF by November 15th. If the due date falls on a weekend or legal holiday, the deadline automatically extends to the next business day. Adhering to this schedule helps avoid penalties for late filing.

Requesting a Filing Extension

Should a private foundation require additional time to prepare and file its Form 990-PF, an automatic extension can be requested. This is accomplished by filing Form 8868, “Application for Automatic Extension of Time To File an Exempt Organization Return.” Filing Form 8868 grants an automatic 6-month extension from the original due date.

To request this extension, the foundation must submit Form 8868 by the original due date of its Form 990-PF. The form requires basic information about the organization, including its name, Employer Identification Number (EIN), and the tax year for which the extension is requested. This extension only provides additional time to file the return; it does not extend the time to pay any taxes due. Although private foundations rarely owe income tax, this principle applies to all tax filings.