F990PF-067-01 e-file error

Form 990-PF, 'MinimumInvestmentReturnAmt' must equal 5% of 'NetVlNoncharitableAssetsAmt' unless the return is a short period return, i.e., difference between the tax period beginning date and tax period ending date is less than 12 months.
For short-year returns, 990-PF Part X, line 6, typically won’t be 5% of line 5. Even though the amount on line 6 is calculated correctly, it violates the IRS e-file requirements and will be rejected.

Solution

If this is not a short-year 990-PF return:
  1. Go to the
    General input
    folder.
  2. Open the
    990PF
    screen
  3. Check that the
    Tax year beginning, if short year
    field is empty.
  4. Re-create and retransmit the return.
If this is a short-year 990-PF return, you'll need to file the return on paper due to an IRS e-file limitation.
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