Return of Organization Exempt From Income Tax Under Section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)
ICR 201412-1545-007 · OMB 1545-0047 · Historical Active
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 1545-0047 can be found here:
Return of Organization Exempt From Income Tax Under Section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)
Form 990 is needed to determine that IRC section 501(a) tax-exempt organizations fulfill the operating conditions within the limitations of their tax exemption. Form 990 is used by tax-exempt organizations, nonexempt charitable trusts, and section 527 political organizations to provide the IRS with the information required by section 6033.
The statutory requirements of § 501(r) (except for § 501(r)(3)) apply to taxable years beginning after March 23, 2010. Section 501(r)(3) applies to taxable years beginning after March 23, 2012.
On December 29, 2014, the Department of the Treasury (“Treasury Department”) and the Internal Revenue Service (“IRS”) released final regulations (TD 9708) that contain guidance on the requirements of § 501(r)(3) through (r)(6) and the consequences for failing to meet any of the § 501(r) requirements.
This revenue procedure provides guidance regarding correction and disclosure procedures for hospital organizations to follow so that certain failures to meet the requirements of § 501(r) of the Internal Revenue Code will be excused for purposes of § 501(r)(1) and 501(r)(2)(B). Failure to provide this guidance could prevent not-for-profit hospital organizations from maintaining or being treated as described in section 501(c)(3) of the tax Code.
US Code:
26 USC 4947
Name of Law: Application of taxes to certain nonexempt trusts
US Code:
26 USC 501
Name of Law: Exemption from tax on corporations, certain trusts, etc.
US Code:
26 USC 527
Name of Law: Political organizations
US Code:
26 USC 6033
Name of Law: Returns by exempt organizations
Section 9007 of the Patient Protection and Affordable Care Act, Public Law 111-148 (124 Stat. 119 (2010)), enacted § 501(r), imposes additional requirements on charitable hospital organizations. Section 501(r)(1) provides that a hospital organization described in § 501(r)(2) will not be treated as described in § 501(c)(3) unless the organization meets the requirements of § 501(r)(3) through (r)(6). Section 7.01, of Rev. Proc. 2015-21, describes the information that must be disclosed and requires all disclosure to be made on the Form 990. Section 7.02 applies only to hospital organizations that are not required to file Form 990 and permits such organizations to disclose the information described in section 7.01 on a Web site rather than on a Form 990.
In response to the comments regarding Notice 2014-3 and to conform this revenue procedure (RP 2015-12) to the final regulations under § 501(r) (TD 9708), this revenue procedure includes changes to the revenue procedure proposed in Notice 2014-3.
The collections of information in this revenue procedure are in sections 7.01 and 7.02. Section 7.01 describes the information that must be disclosed and requires all disclosure to be made on the Form 990. Section 7.02 applies only to hospital organizations that are not required to file Form 990. The Treasury Department and the IRS have reached the following reporting burden estimates for those organizations disclosing information pursuant to sections 7.01 and 7.02:
Estimated number of recordkeepers: 2,955
Estimated average annual burden hours per recordkeeper: 2
Estimated total annual reporting burden: 5,910
$20,000
No
No
Yes
No
No
Uncollected
Bruce Lewis 2022830662 ext. 0662
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form 990 Return of Organization Exempt From Income Tax ...; Schedule O - Supplemental Information to Form 990
RP 2015-21 Supporting Statement_Red Line 3-6-15.docx
Return of Organization Exempt From Income Tax ...; Schedule O - Supplemental Information to Form 990