Reminders

Separate returns. A manager, self-dealer, disqualified person, donor, donor advisor, or related person who owes tax under Chapter 41 or 42, (including an entity manager under section 4965), may no longer report the tax on the Form 4720 filed by the organization. Each taxpayer must file a separate Form 4720.

Entity or person subject to tax filing Form 4720 with re- spect to more than one organization. Item B in the header area of Form 4720 is revised for use by any entity (other than the organization) or person who is required to file Form 4720 to report and pay an excise tax under Chapters 41 or 42 of the Internal Revenue Code with respect to more than one organization. The information entered in Item B will allow

Instructions for Form 4720 (2025) Catalog Number 13023Z Nov 13, 2025 Department of the Treasury Internal Revenue Service www.irs.gov

IRS systems to accept and process multiple Form 4720 filings under the same taxpayer number (Employer Identification Number or Social Security Number).

Explanations of corrective action taken. Instead of using Item B to collect information about corrections made (or not made) on taxable events, Form 4720 is revised to request information about such corrections in each of Schedules A, B, C, D, E, F, or I. Now, for each transaction to which an initial tax applies under sections 4941, 4942, 4943, 4944, 4945, 4955, or 4958, the organization or any other entity or person required to file Form 4720 to report one or more such transactions, must indicate whether a correction has been made (or not) on the Schedule where each transaction is reported.