The purpose of Form 990-T
- Report unrelated business income (including additions to unrelated business taxable income under section 512(a)(7).
- Figure and report unrelated business income tax liability.
- Report proxy tax liability.
- Claim a refund of income tax paid by a regulated investment company (RIC) or a real estate investment trust (REIT), on undistributed long-term capital gain.
- Request a credit for certain federal excise taxes paid or for small employer health insurance premiums paid.
- Report unrelated business income tax on reinsurance entities.
