IRS · Official form

Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42

Form 4720 reports and pays the excise taxes that apply when private foundations, other exempt organizations, or their insiders break the Chapter 41 and 42 rules. Fill in the official PDF below.

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What is 4720?

Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42 of the Internal Revenue Code, is the return for a long list of excise taxes on exempt organizations and related persons. For private foundations these include taxes on self-dealing, failure to distribute income, excess business holdings, jeopardizing investments, and taxable expenditures.

It also covers taxes that reach beyond foundations, such as those on excess benefit transactions, certain lobbying and political expenditures, excess executive compensation, and net investment income of some colleges and universities. Both organizations and the individual managers or disqualified persons who owe a tax may need to file.

Who files 4720?

Private foundations reporting taxes triggered under Chapter 42, such as self-dealing or failure to distribute income
Public charities and other exempt organizations owing taxes on excess benefit transactions or prohibited expenditures
Foundation managers, disqualified persons, and organization managers who are personally liable for a share of a tax
Applicable tax-exempt organizations owing the excise tax on excess executive compensation or similar Chapter 41 and 42 taxes

How to fill out 4720

Identify the organization, its EIN, and the tax year at the top, and check the boxes for every tax that applies.
Complete the schedule for each triggered tax, describing the transaction or failure and the amounts involved.
Figure the tax on each schedule; some taxes fall on the organization and others on individual managers or disqualified persons, who may file their own Form 4720.
Total the taxes in the summary section and compute the balance due.
Download the completed PDF for your records and file by the organization’s deadline. Most organizations must now file Form 4720 electronically, so check the current instructions for how to submit.

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Page 7. Part I I. Tax Imposed on Entity Managers (Section 4965) Continued. Row: 1. Column: (a) Name of entity manager.

Row: 1. Column: (b) Transaction number from Part I, col. (a).

Row: 1. Column: (c) Tax—enter $20,000 for each transaction listed in col. (b) for each manager in col. (a).

Row: 1. Column: (d) Manager’s total tax liability (add amounts in col. (c)).

Row: 2. Column: (a) Name of entity manager.

Row: 2. Column: (b) Transaction number from Part I, col. (a).

Row: 2. Column: (c) Tax—enter $20,000 for each transaction listed in col. (b) for each manager in col. (a).

Row: 2. Column: (d) Manager’s total tax liability (add amounts in col. (c)).

Row: 3. Column: (a) Name of entity manager.

Row: 3. Column: (b) Transaction number from Part I, col. (a).

Row: 3. Column: (c) Tax—enter $20,000 for each transaction listed in col. (b) for each manager in col. (a).

Row: 3. Column: (d) Manager’s total tax liability (add amounts in col. (c)).

Row: 4. Column: (a) Name of entity manager.

Row: 4. Column: (b) Transaction number from Part I, col. (a).

Row: 4. Column: (c) Tax—enter $20,000 for each transaction listed in col. (b) for each manager in col. (a).

Row: 4. Column: (d) Manager’s total tax liability (add amounts in col. (c)).

Row: 5. Column: (a) Name of entity manager.

Row: 5. Column: (b) Transaction number from Part I, col. (a).

Row: 5. Column: (c) Tax—enter $20,000 for each transaction listed in col. (b) for each manager in col. (a).

Row: 5. Column: (d) Manager’s total tax liability (add amounts in col. (c)).

Column: (b) Name of sponsoring organization and donor advised fund.

Row: Item number 1. Column: (c) Description of distribution.

Row: Item number 2. Column: (b) Name of sponsoring organization and donor advised fund.

Row: Item number 2. Column: (c) Description of distribution.

Row: Item number 3. Column: (b) Name of sponsoring organization and donor advised fund.

Row: Item number 3. Column: (c) Description of distribution.

Row: Item number 4. Column: (b) Name of sponsoring organization and donor advised fund.

Row: Item number 4. Column: (c) Description of distribution.

Row: Item number 1. Column: (d) Date of distribution.

Row: Item number 1. Column: (e) Amount of distribution.

Row: Item number 1. Column: (f) Tax imposed on organization (20% of col. (e)).

Row: Item number 1. Column: (g) Tax on fund managers (lesser of 5% of col. (e) or $10,000).

Row: Item number 2. Column: (d) Date of distribution.

Row: Item number 2. Column: (e) Amount of distribution.

Row: Item number 2. Column: (f) Tax imposed on organization (20% of col. (e)).

Row: Item number 2. Column: (g) Tax on fund managers (lesser of 5% of col. (e) or $10,000).

Row: Item number 3. Column: (d) Date of distribution.

Row: Item number 3. Column: (e) Amount of distribution.

Row: Item number 3. Column: (f) Tax imposed on organization (20% of col. (e)).

Row: Item number 3. Column: (g) Tax on fund managers (lesser of 5% of col. (e) or $10,000).

Row: Item number 4. Column: (d) Date of distribution.

Row: Item number 4. Column: (e) Amount of distribution.

Row: Item number 4. Column: (f) Tax imposed on organization (20% of col. (e)).

Row: Item number 4. Column: (g) Tax on fund managers (lesser of 5% of col. (e) or $10,000).

Total—Column (f). Enter here and on Part I, line 10.

Total—Column (g). Enter total (or prorated amount) here and in Part I I, column (c), below.

Part I I. Summary of Tax Liability of Fund Managers and Proration of Payments. Row: 1. Column: (a) Name of fund managers liable for tax.

Row: 1. Column: (b) Item no. from Part I, col. (a).

Row: 1. Column: (c) Tax from Part I, col. (g) or prorated amount.

Row: 1. Column: (d) Manager’s total tax liability (add amounts in col. (c)) (see instructions).

Row: 2. Column: (a) Name of fund managers liable for tax.

Row: 2. Column: (b) Item no. from Part I, col. (a).

Row: 2. Column: (c) Tax from Part I, col. (g) or prorated amount.

Row: 2. Column: (d) Manager’s total tax liability (add amounts in col. (c)) (see instructions).

Row: 3. Column: (a) Name of fund managers liable for tax.

Row: 3. Column: (b) Item no. from Part I, col. (a).

Row: 3. Column: (c) Tax from Part I, col. (g) or prorated amount.

Row: 3. Column: (d) Manager’s total tax liability (add amounts in col. (c)) (see instructions).

Row: 4. Column: (a) Name of fund managers liable for tax.

Row: 4. Column: (b) Item no. from Part I, col. (a).

Row: 4. Column: (c) Tax from Part I, col. (g) or prorated amount.

Row: 4. Column: (d) Manager’s total tax liability (add amounts in col. (c)) (see instructions).

Page 8 57 fields

Row: Item number 1. Column: (b) Date of prohibited benefit.

Row: Item number 1. Column: (c) Description of benefit.

Row: Item number 2. Column: (b) Date of prohibited benefit.

Row: Item number 2. Column: (c) Description of benefit.

Row: Item number 3. Column: (b) Date of prohibited benefit.

Row: Item number 3. Column: (c) Description of benefit.

Row: Item number 4. Column: (b) Date of prohibited benefit.

Row: Item number 4. Column: (c) Description of benefit.

Row: Item number 5. Column: (b) Date of prohibited benefit.

Row: Item number 5. Column: (c) Description of benefit.

Row: Item number 1. Column: (d) Amount of prohibited benefit.

Row: Item number 1. Column: (e) Tax on donors, donor advisors, or related persons (125% of col. (d)) (see instructions).

Row: Item number 1. Column: (f) Tax on fund managers (if applicable) (lesser of 10% of col. (d) or $10,000) (see instructions).

Row: Item number 2. Column: (d) Amount of prohibited benefit.

Row: Item number 2. Column: (e) Tax on donors, donor advisors, or related persons (125% of col. (d)) (see instructions).

Row: Item number 2. Column: (f) Tax on fund managers (if applicable) (lesser of 10% of col. (d) or $10,000) (see instructions).

Row: Item number 3. Column: (d) Amount of prohibited benefit.

Row: Item number 3. Column: (e) Tax on donors, donor advisors, or related persons (125% of col. (d)) (see instructions).

Row: Item number 3. Column: (f) Tax on fund managers (if applicable) (lesser of 10% of col. (d) or $10,000) (see instructions).

Row: Item number 4. Column: (d) Amount of prohibited benefit.

Row: Item number 4. Column: (e) Tax on donors, donor advisors, or related persons (125% of col. (d)) (see instructions).

Row: Item number 4. Column: (f) Tax on fund managers (if applicable) (lesser of 10% of col. (d) or $10,000) (see instructions).

Row: Item number 5. Column: (d) Amount of prohibited benefit.

Row: Item number 5. Column: (e) Tax on donors, donor advisors, or related persons (125% of col. (d)) (see instructions).

Row: Item number 5. Column: (f) Tax on fund managers (if applicable) (lesser of 10% of col. (d) or $10,000) (see instructions).

Column: (a) Names of donors, donor advisors, or related persons liable for tax.

Row: 1. Column: (b) Item no. from Part I, col. (a).

Row: 1. Column: (c) Tax from Part I, col. (e) or prorated amount.

Row: 1. Column: (d) Donor's, donor advisor's, or related person's total tax liability (add amounts in col. (c)) (see instructions).

Row: 2. Column: (a) Names of donors, donor advisors, or related persons liable for tax.

Row: 2. Column: (b) Item no. from Part I, col. (a).

Row: 2. Column: (c) Tax from Part I, col. (e) or prorated amount.

Row: 2. Column: (d) Donor's, donor advisor's, or related person's total tax liability (add amounts in col. (c)) (see instructions).

Row: 3. Column: (a) Names of donors, donor advisors, or related persons liable for tax.

Row: 3. Column: (b) Item no. from Part I, col. (a).

Row: 3. Column: (c) Tax from Part I, col. (e) or prorated amount.

Row: 3. Column: (d) Donor's, donor advisor's, or related person's total tax liability (add amounts in col. (c)) (see instructions).

Row: 4. Column: (a) Names of donors, donor advisors, or related persons liable for tax.

Row: 4. Column: (b) Item no. from Part I, col. (a).

Row: 4. Column: (c) Tax from Part I, col. (e) or prorated amount.

Row: 4. Column: (d) Donor's, donor advisor's, or related person's total tax liability (add amounts in col. (c)) (see instructions).

Part I I I. Summary of Tax Liability of Fund Managers and Proration of Payments. Row: 1. Column: (a) Names of fund managers liable for tax.

Row: 1. Column: (b) Item no. from Part I, col. (a).

Row: 1. Column: (c) Tax from Part I, col. (f) or prorated amount.

Row: 1. Column: (d) Fund manager's total tax liability (add amounts in col. (c)) (see instructions).

Row: 2. Column: (a) Names of fund managers liable for tax.

Row: 2. Column: (b) Item no. from Part I, col. (a).

Row: 2. Column: (c) Tax from Part I, col. (f) or prorated amount.

Row: 2. Column: (d) Fund manager's total tax liability (add amounts in col. (c)) (see instructions).

Row: 3. Column: (a) Names of fund managers liable for tax.

Row: 3. Column: (b) Item no. from Part I, col. (a).

Row: 3. Column: (c) Tax from Part I, col. (f) or prorated amount.

Row: 3. Column: (d) Fund manager's total tax liability (add amounts in col. (c)) (see instructions).

Row: 4. Column: (a) Names of fund managers liable for tax.

Row: 4. Column: (b) Item no. from Part I, col. (a).

Row: 4. Column: (c) Tax from Part I, col. (f) or prorated amount.

Row: 4. Column: (d) Fund manager's total tax liability (add amounts in col. (c)) (see instructions).

Page 9 76 fields

Row: Item number 1. Column: (b) Name of hospital facility.

Row: Item number 1. Column: (c) Description of the failure.

Row: Item number 1. Column: (d) Tax year hospital facility last conducted a C H N A.

Row: Item number 1. Column: (e) Tax year hospital facility last adopted an implementation strategy.

Row: Item number 2. Column: (b) Name of hospital facility.

Row: Item number 2. Column: (c) Description of the failure.

Row: Item number 2. Column: (d) Tax year hospital facility last conducted a C H N A.

Row: Item number 2. Column: (e) Tax year hospital facility last adopted an implementation strategy.

Row: Item number 3. Column: (b) Name of hospital facility.

Row: Item number 3. Column: (c) Description of the failure.

Row: Item number 3. Column: (d) Tax year hospital facility last conducted a C H N A.

Row: Item number 3. Column: (e) Tax year hospital facility last adopted an implementation strategy.

Row: Item number 4. Column: (b) Name of hospital facility.

Row: Item number 4. Column: (c) Description of the failure.

Row: Item number 4. Column: (d) Tax year hospital facility last conducted a C H N A.

Row: Item number 4. Column: (e) Tax year hospital facility last adopted an implementation strategy.

Row: Item number 5. Column: (b) Name of hospital facility.

Row: Item number 5. Column: (c) Description of the failure.

Row: Item number 5. Column: (d) Tax year hospital facility last conducted a C H N A.

Row: Item number 5. Column: (e) Tax year hospital facility last adopted an implementation strategy.

1. Number of hospital facilities operated by the hospital organization that failed to meet the Community Health Needs Assessment

2. Tax—Enter $50,000 multiplied by line 1 here and on Part I, line 12.

Row: Item number 1. Column: (b) Name of covered employee.

Row: Item number 1. Column: (c) Excess remuneration.

Row: Item number 1. Column: (d) Excess parachute payment.

Row: Item number 1. Column: (e) Total. Add column (c) and (d).

Row: Item number 2. Column: (b) Name of covered employee.

Row: Item number 2. Column: (c) Excess remuneration.

Row: Item number 2. Column: (d) Excess parachute payment.

Row: Item number 2. Column: (e) Total. Add column (c) and (d).

Row: Item number 3. Column: (b) Name of covered employee.

Row: Item number 3. Column: (c) Excess remuneration.

Row: Item number 3. Column: (d) Excess parachute payment.

Row: Item number 3. Column: (e) Total. Add column (c) and (d).

Row: Item number 4. Column: (b) Name of covered employee.

Row: Item number 4. Column: (c) Excess remuneration.

Row: Item number 4. Column: (d) Excess parachute payment.

Row: Item number 4. Column: (e) Total. Add column (c) and (d).

Row: Item number 5. Column: (b) Name of covered employee.

Row: Item number 5. Column: (c) Excess remuneration.

Row: Item number 5. Column: (d) Excess parachute payment.

Row: Item number 5. Column: (e) Total. Add column (c) and (d).

6. Attachment, if necessary. See instructions. (e) Total.

Total (add column (e) items 1–6).

Tax. Enter 21% of the amount above here and on Part I, line 13.

Row: 1. Filing Organization. Column: (c) Gross investment income (See instructions.).

Row: 1. Filing Organization. Column: (d) Capital gain net income.

Row: 1. Filing Organization. Column: (e) Administrative expenses allocable to income included in cols. (c) and (d).

Row: 1. Filing Organization. Column: (f) Net investment income (See instructions.).

Row: 2. Related Organization. Column: (a) Name.

Row: 2. Related Organization. Column: (b) E I N.

Row: 2. Related Organization. Column: (c) Gross investment income (See instructions.).

Row: 2. Related Organization. Column: (d) Capital gain net income.

Row: 2. Related Organization. Column: (e) Administrative expenses allocable to income included in cols. (c) and (d).

Row: 2. Related Organization. Column: (f) Net investment income (See instructions.).

Row: 3. Related Organization. Column: (a) Name.

Row: 3. Related Organization. Column: (b) E I N.

Row: 3. Related Organization. Column: (c) Gross investment income (See instructions.).

Row: 3. Related Organization. Column: (d) Capital gain net income.

Row: 3. Related Organization. Column: (e) Administrative expenses allocable to income included in cols. (c) and (d).

Row: 3. Related Organization. Column: (f) Net investment income (See instructions.).

Row: 4. Related Organization. Column: (a) Name.

Row: 4. Related Organization. Column: (b) E I N.

Row: 4. Related Organization. Column: (c) Gross investment income (See instructions.).

Row: 4. Related Organization. Column: (d) Capital gain net income.

Row: 4. Related Organization. Column: (e) Administrative expenses allocable to income included in cols. (c) and (d).

Row: 4. Related Organization. Column: (f) Net investment income (See instructions.).

5. Total from attachment, if necessary. (c) Gross investment income (See instructions.).

5. (d) Capital gain net income.

5. (e) Administrative expenses allocable to income included in cols. (c) and (d).

5. (f) Net investment income (See instructions.).

6. Total. (c) Gross investment income (See instructions.).

6. (d) Capital gain net income.

6. (e) Administrative expenses allocable to income included in cols. (c) and (d).

6. (f) Net investment income (See instructions.).

7. Excise Tax on Net Investment Income. Enter 1.4% of the amount in 6(f) here and on Part I, line 14.

Page 10 10 fields

Title

May the I R S discuss this return with the preparer shown below? (see instructions). Yes.

No.

Preparer’s name

Check if self-employed.

PTIN

Firm’s name

Firm’s address

Firm’s EIN

Phone no.

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Frequently asked questions

Does filing Form 990-PF replace Form 4720?

No. Form 990-PF is the foundation’s annual information return. If a Chapter 42 tax was triggered, the foundation or the responsible individuals must also file Form 4720 to report and pay that excise tax.

Can individuals owe tax on Form 4720?

Yes. Self-dealers, disqualified persons, and managers who participated in a prohibited act can be personally liable, and individuals generally file their own Form 4720 separate from the organization’s. See the current instructions.

Does Form 4720 have to be e-filed?

Organizations generally must file it electronically under current e-filing rules, while certain individual filers may still file on paper. Check the current instructions for who must e-file and the approved providers.

Form 4720, Return of Certain Excise Taxes Under Chapters 41 and 42

What is 4720?

Who files 4720?

How to fill out 4720

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Frequently asked questions

Related forms

Form 990, Return of Organization Exempt From Income Tax

Form 990-EZ, Short Form Return of Organization Exempt From Income Tax

Form 5330, Return of Excise Taxes Related to Employee Benefit Plans