Form 990-PF - Instructions for 2013 

February 7:  The IRS posted the final version of the instructions for Form 990-PF, Return of Private Foundation, for tax years beginning in 2013.

Significant changes from the 2012 instructions include:

  • A discussion of the notice and filing requirements that apply to a private foundation during its 60-month termination period
  • A clarification that during its initial year, a former public charity will be treated as a private foundation only for purposes of sections 6033 (filing requirements), 4940 (investment income excise tax), and 507 (terminations)
  • A requirement that the controlled entities attachment disclose whether such entities are also excess business holdings
  • A clarification of how to report program related investments in Part IX-B (Summary of Program Related Investments)
  • Clarifications throughout about which parts and lines of the Form 990-PF that certain foreign foundations are not required to complete

KPMG observation

KPMG tax professionals have annotated a version of the new instructions—with new language marked with “yellow” highlights: Form 990-PF Instructions [PDF 924 KB]

For more information, contact:

Rick Speizman, Partner-in-Charge of KPMG's Washington National Tax Exempt Organizations Tax group

+1 (202) 533-3084

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