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| All locals must now file IRS Form 990 |
| Local treasurers and other officers should be aware that all UTU locals are now required to file Internal Revenue Service Form 990 for fiscal year 2007.
The form must be filed no later than May 15, 2008. Previously, locals that ordinarily received less than $25,000 in adjusted receipts did not have to file the form unless they received the form from the IRS. There are three different versions of Form 990. Locals that have adjusted receipts greater than $100,000 are required to complete and file IRS Form 990. Locals that have adjusted receipts ranging from $25,000 to $100,000 must complete and file Form 990-EZ. Locals with adjusted receipts of less than $25,000 should file Form 990-N. The form must be filed electronically. There will be no paper form. The change in policy is related to the enactment of the Pension Protection Act of 2006. For more information regarding Form 990-N, as well as Forms 990 and 990-EZ, click here to read a release from the IRS. |
| October 31, 2007 |
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