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Form 990 Filing Guide

Annual IRS reporting requirements for 501(c)(7) organizations

Draft
Filing Requirements by Organization Size

Form 990-N (e-Postcard)

Simplified electronic filing for small organizations

Gross receipts ≤ $50,000
Due Date: 15th day of 5th month after year end
Requirements:
  • • Basic organization information
  • • Gross receipts amount
  • • Website address (if applicable)
  • • Electronic filing only

Form 990-EZ

Short form for medium-sized organizations

$50,000 < Gross receipts ≤ $200,000
Due Date: 15th day of 5th month after year end
Requirements:
  • • Complete financial information
  • • Program service accomplishments
  • • Board member information
  • • Compensation of officers

Form 990

Full form for larger organizations

Gross receipts > $200,000
Due Date: 15th day of 5th month after year end
Requirements:
  • • Detailed financial statements
  • • Extensive program descriptions
  • • Governance information
  • • Compensation analysis
Required Schedules

Schedule A

Required

Public Charity Status and Public Support

Purpose: Demonstrate public support and charitable activities

Schedule B

Conditional

Schedule of Contributors

Purpose: List significant contributors and amounts

Schedule C

Conditional

Political Campaign and Lobbying Activities

Purpose: Report political and lobbying expenditures

Schedule G

Conditional

Supplemental Information Regarding Fundraising

Purpose: Detail fundraising activities and expenses

Schedule O

Required

Supplemental Information to Form 990

Purpose: Provide additional context and explanations

Annual Filing Timeline
1

January

Month 1
  • • Gather financial records
  • • Review previous year's filing
  • • Identify any changes in operations
2

February

Month 2
  • • Prepare financial statements
  • • Compile board member information
  • • Review governance policies
3

March

Month 3
  • • Complete Form 990 draft
  • • Review with board members
  • • Prepare supporting documentation
4

April

Month 4
  • • Final review and approval
  • • Electronic filing submission
  • • Retain copies for records
5

May

Month 5
  • • Confirm IRS receipt
  • • Address any IRS inquiries
  • • Update filing calendar for next year
Key Filing Requirements
  • • File by the 15th day of the 5th month after year end
  • • Electronic filing required for most organizations
  • • Maintain records for at least 3 years
  • • Include all required schedules
  • • Ensure accuracy and completeness
  • • Respond promptly to IRS inquiries
Common Filing Errors
  • • Missing required schedules
  • • Incomplete financial information
  • • Incorrect organization classification
  • • Missing board member information
  • • Late filing without extension
  • • Inconsistent information across forms
Extension Requests

Automatic Extension: File Form 8868 to request an automatic 6-month extension.

Additional Extension: May request additional 3-month extension with good cause.

Filing Deadline: Extensions must be filed by the original due date.

Penalties: Late filing can result in penalties of $20 per day, up to $10,000.