Not a Private Foundation

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Not a Private Foundation

Check this box if the nonexempt charitable trust (section 4947(a)(1)) is not treated as a private foundation under section 509. For more information, see Regulations section 53.4947-1.

Other returns that must be filed. If a nonexempt charitable trust is not treated as though it were a private foundation, the fiduciary must file Form 990, Return of Organization Exempt From Income Tax, or Form 990-EZ, Short Form Return of Organization Exempt from Income Tax, in addition to Form 1041, if the trust meets the filing requirements for either of those forms.

If a nonexempt charitable trust is not treated as though it were a private foundation, and it has no taxable income under Subtitle A, it may answer “Yes” on Form 990, Part V, line 12a and enter the tax-exempt interest received or accrued during the year on Form 990, Part V, line 12b instead of filing Form 1041 to meet its section 6012 filing requirement for that tax year (or if Form 990-EZ is filed instead of Form 990, you may check the box on Form 990-EZ, line 43 and enter the tax-exempt interest received or accrued during the year on that line).