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Part I. Complete this part for all taxable expenditures. Enter

2025 Inst 4720 (PDF) · 2026-10-03 edition · updated 2026-10-04 · United States

in column (f) the number designation from Form 990-PF, Part VI-B, question 5a, or Form 5227, Part VIII, line 5 that applies to the act; for example, “5a(1).”

A taxable expenditure is corrected by (a) recovering part or all of the expenditure to the extent recovery is possible, and where full recovery isn't possible, such additional corrective action as is prescribed by regulations; or (b) if the taxable expenditure is due to failure to comply with requirements described in section 4945(h)(2) or (3) (expenditure responsibility), obtaining or making the report in question. In column (d), for each act of taxable expenditure listed in Part I, indicate whether the investment has been corrected. Answer “Yes,” if correction has been made in whole or in part. Answer only “No,” if the taxable expenditure has not been corrected in any way.

  • If correction has been made, provide a detailed description of any correction made, and the date of each correction. If correction is partial, explain why complete correction has not been made. If correction is made in more than one transaction, describe each transaction separately.

  • If correction has not been made, provide a detailed explanation of why correction hasn't been made and what steps are being taken to make the correction.

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