What Should Nonprofits Know about Form 990-N (e-postcard)?
Purpose of Form 990-N
- Form 990-N , also known as e-Postcard, is the shortened version of Form 990 that can be filed by small tax-exempt organizations to meet their annual tax filing requirements.
- As the name indicates, Form 990-N can only be filed electronically, and there is no paper form available.
Who Must File Form 990-N?
- The IRS has established Form 990-N specifically for small tax-exempt organizations. Therefore, Form 990-N can be filed only by the organizations with gross receipts of $50,000 or more.
- It’s also important to note that these organizations can also choose to file Form 990 or 990-EZ instead of 990-N
Information Needed to file Form 990-N
In order to complete and e-file Form 990-N, the organizations should have the following information available,
- Employer Identification Number (EIN)
- Accounting period followed by the organization
- Legal name and mailing address of the organization
- Other names (if any)
- Principal officer’s details
- Website address of the organization (if any)
- Confirmation that the organization's annual gross receipts ≤ $50,000
- Statement of termination (if applicable)
Deadline for filing Form 990-N
- Form 990-N is due by the 15th day of the 5th month after the small tax-exempt organization’s accounting period ends.
- Therefore,for organizations following a calendar tax year, the deadline to file Form 990-N is
May 15th . - Following a fiscal tax year? Find out your organization's 990-N deadline.
Is There an Extension for Filing Form 990-N?
- No! Usually, the organizations can file Form 8868 to extend the deadline for filing Form 990, 990-EZ, 990-PF, and 990-T.
- However, the deadline for filing Form 990-N cannot be extended.
Consequences of not filing Form
990-N
- Though there are no penalties for filing Form 990-N late, the organizations must still ensure that they e-file Form 990-N every year.
- If a small tax-exempt organization fails to file Form 990-N for three consecutive years, there have the risk of losing their tax-exempt status.
Make Your 990-N Filing Easy and Secure with Tax990!
Tax990 is a leading IRS-authorized e-file provider for 990 forms that provides the nonprofits and tax professionals with a simplified way of filing Form 990-N to the IRS.
Some of the helpful features offered by Tax990 include,
- 3-step filing process
- Supports Form 990-N filing from any device
- Report the organization’s Revenues, and Expenses
- Option to retransmit the rejected returns for free
- Provides instant status updates regarding the IRS status of Form 990-N