All UTU locals must file Form 990

February 6, 2008

Local treasurers and other officers should be aware that all UTU locals are now required to file Internal Revenue Service Form 990 for fiscal year 2007.

The form must be filed no later than May 15, 2008.

Previously, locals that ordinarily received less than $25,000 in adjusted receipts did not have to file the form unless they received the form from the IRS.

There are three different versions of Form 990. Locals that have adjusted receipts greater than $100,000 are required to complete and file IRS Form 990.

Locals that have adjusted receipts ranging from $25,000 to $100,000 must complete and file Form 990-EZ.

Locals with adjusted receipts of less than $25,000 should file Form 990-N. The form must be filed electronically. There will be no paper form. To file Form 990-N, click here.

Form 990-N seeks the following information:

  • The legal name of the organization;
  • Any name under which the organization operates or does business;
  • The organization’s mailing address and its Internet Web site address (if any);
  • The organization’s taxpayer identification number;
  • The name and address of a principal officer; and,
  • Evidence of the continuing basis for the organization’s exemption from the filing requirements under section 6033(a)(1).

Form 990-N has just been made available by the IRS. Like Form 990, the 990-N will be due no later than the 15th day of the fifth month after the end of an organization’s tax year.

Although there is no monetary penalty for failing to file the e-postcard, organizations that do not file for three years in a row will have their tax-exempt status revoked. To be reinstated, an organization will have to file a new exemption application and pay the applicable user fee.

Congress imposed this new requirement because of concerns that small organizations, that have had no annual filing requirement in the past, have not kept the IRS up-to-date on address and other changes.