SECTION 2. BACKGROUND

Section 6011(a) of the Code provides that, when required by regulations prescribed by the Secretary of the Treasury or his delegate (Secretary), any person made liable for any tax imposed by the Code, or with respect to the collection thereof, must make a return or statement according to the forms and regulations prescribed by the Secretary. Every person required to make a return or statement must include therein the information required by such forms or regulations. Under § 53.60111(b), every person (including a govern

mental entity) liable for tax imposed by sections 4941(a), 4942(a), 4943(a), 4944(a), 4945(a), 4955(a), 4958(a), 4959, 4960(a), 4965(a), 4966(a), 4967(a), or 4968(a), and every private foundation and every trust described in section 4947(a)(2) which has engaged in an act of self-dealing (as defined in section 4941(d)) (other than an act giving rise to no tax under section 4941(a)) must file an annual return on Form 4720 and must include therein the information required by such form and the instructions issued with respect thereto. Under § 53.6011-1(c), if a Form 4720 is filed by a private foundation or trust described in section 4947(a)(2) with respect to a transaction as to which other persons are also required to file under this regulation, and if the other persons’ taxable years are the same as the foundation’s or trust’s, then the private foundation or trust and such other persons can file a joint Form 4720, and, to the extent applicable, that form will be considered as the other persons’ return for purposes of complying with the filing requirement under § 53.6011-1(b). Subject to various exceptions, section 6033(a)(1) of the Code requires every organization exempt from taxation under section 501(a) (tax-exempt organization) to file an annual return, stating specifically the items of gross income, receipts, and disbursements, and such other information for the purpose of carrying out the internal revenue laws as the Secretary may by forms or regulations prescribe. Section 6033(b) provides a list of items that are generally required to be furnished annually by organizations described in section 501(c)(3), “at such time and in such manner as the Secretary may by forms or regulations prescribe.”

Consistent with section 6033(a)(1), § 1.6033-2(a)(1) of the Income Tax Regulations (26 CFR part 1) provides that, except as provided in section 6033(a)(3) and § 1.6033-2(g), every tax-exempt organization must file an annual information return specifically setting forth its items of gross income, gross receipts and disbursements,

and such other information as may be prescribed in the instructions issued with respect to the return. Section 1.6033-2(a)(2) (i) provides that every private foundation must file Form 990-PF, Return of Private Foundation, as its annual information return. Although the information to be reported for any particular taxable year is set forth in the forms and instructions for such year, § 1.6033-2(a)(2)(ii) also provides a list of information generally required to be furnished by a tax-exempt organization on its annual return, which generally tracks section 6033(b). The list in the regulations includes, but is not limited to, in the case of a private foundation liable for tax imposed under chapter 42 of the Code (chapter 42), such information as is required on Form 4720. See § 1.6033-2(a)(2)(ii)(J).

In general, under section 6104(b) of the Code, the information required to be furnished by section 6033, together with the names and addresses of such organizations and trusts, must be made available to the public at such times and in such places as the Secretary may prescribe. Section 301.6104(b)-1(a)(1) of the Procedure and Administration Regulations reiterates that the information required by section 6033 must be made available to the public, except as otherwise provided in section 6104 and the regulations thereunder.

In promulgating § 1.6033-2(a)(2)(ii) (J), the Treasury Department and the IRS noted the provision clarifies that Form 4720 (relating to certain excise tax liabilities under chapter 42), when filed by a private foundation, is part of the information return required under section 6033 as well as a tax return required under section 6011. Accordingly, Form 4720 filed by a private foundation is information required by section 6033 and the regulations thereunder and thus is disclosable under section 6104, whereas Form 4720 filed by a taxpayer other than a private foundation is not information required by section 6033 and the regulations thereunder and thus is not disclosable under section 6104. See TD 7785, 46 FR 38507 (July 28, 1981).

1 Form 4720 is filed by taxpayers reporting tax liabilities under sections 170(f)(10), 664(c)(2), 4911, 4912, 4941, 4942, 4943, 4944, 4945, 4955, 4958, 4959, 4960, 4965, 4966, 4967, and 4968 of the Code.

Bulletin No. 2021–2 315 January 11, 2021