reading time: 12 minute(s)

For many experienced nonprofit organizations, the Form 990 series is a familiar part of their annual IRS filing process. These forms are essential for maintaining transparency and compliance. 

However, for recently established nonprofits or those looking to start a nonprofit, it’s important to understand what this form series entails, which version your organization needs to file, and why it plays a critical role in maintaining tax-exempt status and avoiding penalties.

The Purpose of Form 990 Series

The Form 990 Series consists of IRS forms used by tax-exempt organizations to report their financial activities. These forms apply to various entities, including nonprofits, charities, social welfare groups, labor and agricultural organizations, and other tax-exempt institutions.

As part of the 990 series, most forms must be filed by the 15th day of the 5th month following the end of the tax year, so if your organization follows a calendar tax year (January 1–December 31), the due date is May 15, 2025.

The 990 series includes five forms: Form 990, Form 990-N, Form 990-EZ, Form 990-PF, and Form 990-T. 

Form 990

The most recognized form in the series, Form 990, is an informational return used to report tax-exempt organization’s annual financial details to the IRS. This form typically includes information about your organization’s revenue, expenses, mission, and the programs it operates. 

Which version of Form 990 you must file depends on your organization’s financials—those with gross receipts of $200,000 or more, or assets totally $500,000 or more, are required to file the full Form 990. The IRS uses the data provided to ensure the organization still qualifies for tax-exempt status.

Form 990-N

Form 990-N, also referred to as the E-Postcard, is a simplified annual filing requirement for smaller tax-exempt organizations. This form is submitted entirely online and is intended for organizations whose annual gross receipts are $50,000 or less. 

Although it’s a brief and straightforward filing, submitting Form 990-N is crucial for maintaining an organization’s tax-exempt status. Failure to file for three consecutive years can result in the automatic revocation of that status by the IRS.

Form 990-EZ

Similar to Form 990, Form 990-EZ is a shortened version of the form. Though they are similar, Form 990-EZ has different reporting requirements. 

Tax-exempt organizations are required to file Form 990-EZ if their annual gross income is less than $200,000 and total assets are less than $500,000. 

Though you should file Form 990-EZ if you meet these requirements, you can still voluntarily file Form 990 if you prefer.

Form 990-PF

Private foundations use Form 990-PF to report their financial details, including total assets, grants, charitable distributions, and governing officers. This form also helps them determine taxes owed on investment income.

All private foundations must file Form 990-PF each year, as required by the IRS, regardless of the gross receipts amount.

When filing Form 990-PF, some private foundations may be required to include 990-PF Schedule B based on the financial details they report. This schedule is generally necessary when a foundation receives contributions of $5,000 or more from a single contributor within the tax year.

Form 990-T

Form 990-T is the form used by tax-exempt organizations to report Unrelated Business Income (UBI). While these organizations are generally exempt from federal income tax, income earned through unrelated business activities may still be subject to taxation.

If a tax-exempt organization earns $1,000 or more in gross income from UBI during the tax year, it is required to file Form 990-T with the IRS.

Required Information

While some 990 forms require specific details, the core information needed across all forms includes:

• Organization details
• Financial information
• Organization activities and programs
• Staff compensation data

Let Tax990 Help File Your Forms

Filing your nonprofit’s Form 990 doesn’t have to be a hassle, especially when you use our sister product, Tax990. As an IRS-authorized e-file provider, Tax990 makes submitting your Form 990 series faster, easier, and more reliable.

With intuitive features like multi-user access, automated audit checks for accuracy, and free retransmission of rejected returns, Tax990 streamlines the entire filing process. Plus, with the new Tax990 Commitment program, your IRS acceptance is guaranteed, offering total peace of mind.

Want to learn more about the Tax990 Commitment? Click here.

The deadline is fast approaching—file with Tax990 today and make this tax season stress-free!