Foreign Activities Reporting Requirements for Exempt Organizations: Form 990 Schedule F and Other Returns
Identifying Required Disclosures and Tracking Location and Nature of Foreign Accounts For Nonprofits
About the Course
Introduction
This course will provide an in-depth exploration into the determinations, calculations, disclosures, and tax reporting of foreign investments, accounts, and activities held or engaged in by nonprofit/exempt organizations. The panel will offer practical guidance into identifying foreign investments that do—and do not—require disclosure on Form 990 Schedule F and other returns, tracking the location of foreign accounts and investments, and reporting operations in a boycotting country.
Description
The IRS has increased its focus and scrutiny of foreign-based assets owned by U.S. taxpayers, and this scrutiny extends to exempt organizations. In recent years, the Service has released several information-gathering forms in an attempt to quantify overseas activities of U.S. taxpayers. While tax-exempt organizations do not face the same degree of disclosure requirements that for-profit entities or individuals face, nonprofits must frequently disclose foreign activities on several information forms.
Exempt organizations with foreign assets or activities above a specified threshold are subject to filing Forms 926, 8621, 8865, 5471, and the FBAR, and may have to report their foreign activities on Schedule F of Form 990. Most reporting of grants and exempt activity in foreign countries is relatively straightforward. However, the various requirements to account for foreign-based income and assets are more complex, and failure to complete foreign disclosure information filings can result in substantial penalties.
Understanding the assets and transactions to report, and on what form, presents significant challenges to exempt organization tax advisers. With the high costs of even innocent mistakes, tax professionals must know the rules for disclosing foreign assets, transfers, and income.
Listen as our experienced panel provides detailed guidance on navigating the various disclosure requirements for exempt organizations engaged in foreign activities or holding foreign investments, with concrete examples of completed forms and schedules.
Presented By
Ms. Becker Harris concdentrates her practice on tax-exempt organizations. Her practice primarily focuses on consulting and compliance for public charities and private foundations including international matters, alternative investments, unrelated business income tax, fundraising events, commercial co-venturers, corporate governance and IRS controversy. In addition, she assists individuals with charitable gift planning. Jennifer is a co-author and editor of the CCH Form 990 Compliance Guide, by Clark Nuber.
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
Date + Time
- event
Monday, February 23, 2026
- schedule
1:00 p.m. ET./10:00 a.m. PT
I. Definition of reportable foreign activities
II. Form 990 Schedule F
A. Reporting grants and exempt activities
B. Schedule F, Part IV: statements of transfer to or ownership of foreign assets
III. Other forms
A. Form 926, Transfers of Property to a Foreign Corporation
B. Form 5471, Information Return of U.S. Persons With Respect to Foreign Corporations
C. Form 8621, Passive Foreign Investment Company
D. Form 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships
E. Form 5713, International Boycott Report
IV. The FBAR
V. Case study with illustrations
The panel will discuss these and other critical issues:
- What are the thresholds for various reporting obligations of foreign transfers, asset ownership, or income?
- What is the interplay among Form 990 Schedule F and other foreign informational forms?
- Interpreting K-1s with foreign holdings and other foreign income and asset statements to determine how and where to report activities and ownership of foreign assets.
Learning Objectives
After completing this course, you will be able to:
- Identify assets subject to foreign reporting
- Discern when to file an FBAR for an NPO
- Ascertain when to file Schedule F
- Determine applicable additional filing requirements for foreign activity
- Field of Study: Taxes
- Level of Knowledge:
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite:
Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and sole proprietorships, qualified business income, net operating losses and loss limitations; familiarity with net operating loss carry-backs, carry-forwards and carried interests.
BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
