Form 199 California Exempt Organization Annual Information Return

What is the Form 199 California Exempt Organization Annual Information Return

The Form 199 is a crucial document for exempt organizations in California, serving as the Annual Information Return. This form is specifically designed for organizations that are exempt from federal income tax under Section 501(c) of the Internal Revenue Code. It provides the California Franchise Tax Board with essential information about the organization’s activities, finances, and governance. By submitting this form, organizations demonstrate compliance with state regulations and maintain their tax-exempt status.

Steps to complete the Form 199 California Exempt Organization Annual Information Return

Completing Form 199 involves several key steps to ensure accuracy and compliance. First, gather all necessary financial records, including income statements, balance sheets, and details of program activities. Next, fill out the form by providing information such as the organization’s name, address, and federal employer identification number (EIN). Be sure to report revenue, expenses, and any changes in governance. After completing the form, review it for completeness and accuracy before submission. Finally, ensure that the form is filed by the deadline to avoid penalties.

Filing Deadlines / Important Dates

Timely filing of Form 199 is essential for maintaining compliance. The due date for submitting the form is typically the 15th day of the fifth month after the end of the organization’s fiscal year. For organizations operating on a calendar year, this means the form is due by May 15. If the deadline falls on a weekend or holiday, the due date is extended to the next business day. Organizations may request an extension if needed, but they must still file the form by the original deadline to avoid penalties.

Legal use of the Form 199 California Exempt Organization Annual Information Return

Form 199 serves a legal purpose by ensuring that exempt organizations comply with California tax laws. It is a requirement for maintaining tax-exempt status and provides transparency regarding the organization’s financial activities. Failure to file this form can result in penalties, including the loss of tax-exempt status. Organizations must ensure that the information provided is accurate and complete, as misrepresentation can lead to legal consequences.

Key elements of the Form 199 California Exempt Organization Annual Information Return

Form 199 includes several key elements that organizations must complete. These elements encompass basic information about the organization, such as its name, address, and federal EIN. Additionally, organizations must report their total revenue, expenses, and net assets. The form also requires details about the organization’s programs and activities, as well as governance information, including the names and addresses of board members. Completing these sections accurately is vital for compliance and transparency.

How to obtain the Form 199 California Exempt Organization Annual Information Return

Organizations can obtain Form 199 through the California Franchise Tax Board’s official website. The form is available for download in PDF format, allowing organizations to print and complete it manually. Additionally, many tax preparation software programs include the form, providing an electronic option for completion. It is essential to ensure that the most current version of the form is used to meet filing requirements.