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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 990 Schedule L
for the current year.
IRS Form 990 Schedule L Transactions With Interested Persons
What Is IRS Form 990 Schedule L?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. The document is a supplement to IRS Form 990, Return of Organization Exempt From Income Tax. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 990 Schedule L?A: IRS Form 990 Schedule L is a form that organizations tax-exempt under section 501(c)(3) must file to report certain transactions with interested persons.
Q: Who has to file IRS Form 990 Schedule L?A: Organizations tax-exempt under section 501(c)(3) must file IRS Form 990 Schedule L.
Q: What are 'transactions with interested persons'?A: 'Transactions with interested persons' refer to certain financial transactions or arrangements between a tax-exempt organization and individuals who have a close relationship with the organization, such as board members, officers, key employees, or family members.
Q: Why do organizations have to report transactions with interested persons?A: Organizations have to report transactions with interested persons to ensure transparency and accountability, as these transactions could potentially involve conflicts of interest or improper use of funds.
Q: What information is included in IRS Form 990 Schedule L?A: IRS Form 990 Schedule L includes information about the nature and amount of transactions with interested persons, as well as the relationship between the parties involved.
Q: When is IRS Form 990 Schedule L due?A: IRS Form 990 Schedule L is typically due along with the organization's annual Form 990, which is due on the 15th day of the 5th month after the end of the organization's fiscal year.
Form Details:
- A 2-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 990 Schedule L through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 990 Schedule L Transactions With Interested Persons
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