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Form 990 Schedule F

Introduction

Schedule F, "Statement of Activities Outside the United States," is an integral part of the annual information return filed by tax-exempt organizations in the United States. Schedule F focuses on disclosing the activities and financial transactions of tax-exempt organizations conducted outside the United States at any time during the tax year.

In this resource guide, we will explain the purpose of Schedule F and address common queries to provide clarity and guidance for 990 filers.

Table of Contents

  • What is Schedule F?

What is Schedule F?

Schedule F, is used by an organization that files Form 990 to provide information on its activities conducted outside the United States by the organization at any time during the tax year. It requires detailed reporting on foreign investments, grants, activities, and other transactions.

The schedule aims to provide transparency regarding international operations, ensuring that tax-exempt organizations comply with IRS regulations and accurately report their global activities.

Who must file Schedule F?

Tax-exempt organizations that engage in activities or financial transactions outside the United States are generally required to file Form 990 Schedule F.

Organizations that answered “Yes” on Form 990, Part IV,Checklist of Required Schedules, line 14b, 15, or 16, must complete the appropriate parts of Schedule F (Form 990) and attach Schedule F (Form 990) to Form 990.

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Schedule F Filing Requirements

All Section 501(c)(3) organizations that file Form 990 must complete and attach Schedule F

Below, we have provided Schedule F filing requirements for each part.

Part I - General Information on Activities Outside the United States.

If the organization answered “Yes” on Form 990, Part IV, line 14b, it must complete Part I of Schedule F.

This means the organization had aggregate revenues or expenses of more than $10,000 from or attributable to grantmaking, fundraising, business, investment, and program services outside the United States, or held investments outside the United States in foreign partnerships, foreign corporations, and other foreign entities with an aggregate book value of $100,000 or more at any time during the tax year.

Part II - Grants and Other Assistance to Organizations or Entities Outside the United States.

If the organization answered “Yes” on Form 990, Part IV, line 15, it must complete Part II of Schedule F.

This indicates the organization reported on Form 990, Part IX, Statement of Functional Expenses, column (A), line 3, more than $5,000 of grants and other assistance to any particular foreign organization or entity (including a foreign government) or to a domestic organization or domestic individual to provide grants or other assistance to a designated foreign organization or organizations.

Part III - Grants and Other Assistance to Individuals Outside the United States

Complete Part III of Schedule F if the organization answered “Yes” on Form 990, Part IV, line 16

This means that the organization reported on Form 990, Part IX, column (A), line 3, more than $5,000, in the aggregate, of grants and other assistance to foreign individuals and domestic organizations or domestic individuals to provide grants or other assistance to a designated foreign individual or individuals.

Enter in this part the information for grants and other assistance made directly to foreign individuals, or directly to foreign organizations for the benefit of specified foreign individuals. Don't complete Part III for grants and other assistance to foreign individuals through a foreign organization unless the grant or assistance is earmarked for the benefit of one or more specific individuals.

Part IV - Foreign Forms

All Schedule F (Form 990) filers must complete Part IV, lines 1–6. If the organization answers “Yes” to any of lines 1–6 because it engaged in the activities described on that line during the tax year, it may need to file the form referenced on that line.

Part V - Supplemental Information

Part V to provide narrative information required to supplement responses in:

  • Part I, line 2, regarding the organization's procedures for monitoring the use of its grants and other assistance outside the United States;
  • Part I, line 3, column (f), regarding the method used to account for expenditures on the organization's financial statements;
  • Part II, line 1, regarding the method used to account for cash grants and noncash assistance on the organization's financial statements;
  • Part III, regarding the method used to account for cash grants and noncash assistance on the organization's financial statements; and
  • Part III, column (c), regarding the estimated number of recipients.

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Here’s how your Form 990 return with Schedule F attachment is transmitted to the IRS in 3 simple steps!

  1. Provide Organization Details - Choose the tax year for which you want to file a return, and provide your organization’s details.
  2. Preview the Return - Complete Schedule F and preview the information provided in the return for accuracy before transmitting.
  3. Transmit to the IRS - Transmit Schedule F and your 990 return to the IRS and get the acceptance in just a few hours.

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Commonly Asked Questions

1. What types of activities should be reported on Schedule F?

Schedule F requires disclosure of various international activities and transactions, including foreign investments, grants, contracts, partnerships, and other financial dealings conducted outside the United States by the organization.

2. What is the use of filing Schedule F?

Schedule F is filed along with Form 990 exempt return to provide information on its activities conducted outside the United States by the organization at any time during the tax year.

3. Are there any exceptions to the filing requirement for Schedule F?

Certain small tax-exempt organizations may be exempt from filing Schedule F if they meet specific criteria outlined by the IRS. However, most tax-exempt organizations with international activities or financial transactions outside the United States must disclose this information on Schedule F to comply with IRS regulations.