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:
- Go to theGeneral inputfolder.
- Open the990PFscreen
- Check that theTax year beginning, if short yearfield is empty.
- 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.
