Section 3. Modification of Interim

Guidance

This notice modifies Notice 2007–45 to incorporate the new provisions from the Act for section 6104(d). Specifically, Section 3 of Notice 2007–45 is hereby modified as follows. The guidelines for making annual returns available for public inspection and copying set forth in Treas. Reg. § 301.6104(d)–1 generally apply except that the definition of “annual information return” in Treas. Reg. § 301.6104(d)–1(b)(4)(i) includes an exact copy of the Form 990–T filed by a charity with the IRS after August 17, 2006, including any schedules, attachments, and supporting documents that relate to the imposition of tax on the unrelated business income of the charitable organization. Schedules, attachments, and supporting documents filed with Form 990–T that do not relate to the imposition of unrelated business income tax are not required to be made available for public inspection and copying. Such schedules and attachments, for example, include Form 5471, Informa- tion Return of U.S. Persons With Respect To Certain Foreign Corporations, Form 8886, Reportable Transaction Disclosure Statement, and Form 8913, Credit for Fed- eral Telephone Excise Tax Paid (generally this form was used only for tax year 2006). Further guidance with respect to schedules or attachments that are not required to be made available when attached to Form 990–T will be provided in forms, instructions and other public announcements.

Further, under the amended section 6104(d)(2), charities must make Forms 990–T available for public inspection and copying only for the three-year period beginning on the last day prescribed for filing such return (determined with regard to any extension of time for filing).

The IRS is now required to make Forms 990–T of section 501(c)(3) organizations publicly available pursuant to section 6104(b). The procedures for requesting public inspection or copying of Forms 990–T are set forth in Announcement 2008–21. All remaining provisions of Notice 2007–45 shall continue in full force and effect.

2008–20 I.R.B. 979 May 19, 2008

$10,000 for each day of the failure after the expiration of the 20th business day.

Section 301.6112–1(b)(1) states that the Commissioner in his discretion may provide in published guidance a form or method for maintaining and/or furnishing the list. The IRS has received requests to provide an optional format for the itemized statement component of the list. Consequently, under the authority of the regulations, this revenue procedure allows material advisors to use the form published on the IRS website for the purpose of maintaining the itemized statement. The form should simplify the method of list maintenance with respect to the itemized statement and reduce the burden on material advisors trying to comply with the regulations.