Annual Filings You Must Complete Every Year

A critical part of running or managing a nonprofit is ensuring that you are current with your annual filings. Although you can hire someone to handle it for you, it is good to understand the basics of what you will be filing. Read on to see the annual filings that Chisholm Law Firm encourages you to complete every year.

In this blog, we’ll talk about some of the primary forms that you should expect to file for your nonprofit. Please be advised that this blog should not stand in for a CPA or accountant. You will need to check with your accountant or tax specialist to ensure that these specific forms apply to your situation. 

The purpose of this blog is to give you a point of reference regarding potential questions to ask and possible forms you can expect to complete for your nonprofit. Again, completing your annual nonprofit filings is crucial to staying in good standing with the IRS.

Federal Filings

On the federal level, the most important thing to remember is that you will be responsible for filing an annual nonprofit tax return with the IRS every year. Here are a few crucial specifics for the federal forms you will need to file.

Form 990

For the Form 990 Annual Exempt Organization Tax Return, you must file by the 15th day of the 5th month after the end of your organization’s accounting period (May 15). If you do not file it for three years in a row, they can take away your tax-exempt status.

Form 990-T

Suppose your nonprofit earns income that has nothing to do with your exempt purposes. In that case, you have to pay taxes on that income just like other businesses if it is $1,000 or more. If this is the case, you are required to file a Form 990-t with the IRS.

State Filings

On the state level, every year, you will need to file a few things depending on your individual state’s requirements. However, there are a few important specifics that you need to be aware of.

Annual Report

An Annual Report is typically the filing you will need to submit to your state’s Division of Corporations. The purpose of this report is to renew your nonprofit registration with the state. Some states charge a substantial late fee if filed after the deadline.

State Tax-Exemption

In addition to your federal tax-exempt status, some states require that you apply for a state-level tax exemption. There is typically no fee to apply, but it may need to be renewed annually, depending on your state.

Fundraising Registration

All nonprofits that want to ask for donations will need to register in the states they plan to “solicit” for donations. Unfortunately, there isn’t a national registry, so you have to register in each state individually.

Complete Your Annual Filings

In sum, these are the primary annual filings that you will need to submit each year. Chisholm Law Firm offers a yearly membership to clients, where we handle the filings for you promptly each year. As long as you find a system that works for you, you will be able to keep your nonprofit active and avoid any IRS penalties for failure to file.

If you need help with your annual filings, you need the right team with the expertise to help you on this journey. Chisholm Law Firm has helped thousands of people start and grow nonprofits that impact the world. If you want the best for your nonprofit, look no further than Chisholm Law Firm. Our clients have a 100% success rate for nonprofit filings and trademark filings*.

You can rest assured that your nonprofit is in the best hands and that we’ll get everything done right the first time. Call us today to schedule your free consultation.

It shouldn’t be this hard to be a superhero. 

*Past results do not determine future outcomes.



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