Exempt Organizations Technical Guide›TG 3-22: Termination of Private Foundation Status - IRC Section 507
Table of Contents
0324 Publ 5614 (PDF) · 2026-10-03 edition · updated 2026-10-04 · United States
In this part
- I. Overview
- Background/History
- Relevant Terms
- Law/Authority
- II. Requirements
- Termination of Private Foundation Status
- Section 507(a) Terminations
- B.1. Voluntary Section 507(a)(1) Terminations
- B.2. Involuntary Section 507(a)(2) Terminations
- Section 507(b)(1) Termination
- C.1. Section 507(b)(1)(A) Terminations – Distributions of Net Assets to Public Charities
- C.2. Transfers Made During Section 507(b)(1)(B) Terminations
- C.3. Section 507(b)(1)(B) Terminations – Operation as a Public Charity
- Section 507(b)(2) Transfers
- D.1. Transferor and Transferee Treatment Following a Transfer to Another Private…
- D.2. Transfers to Sections 509(a)(1), (a)(2), or (a)(3) Organizations
- III. Other Considerations
- Organizations Qualifying as Distributees
- Reliance on Distributee’s Ruling Letter
- Trusts Treated as Private Foundations
- Filing Requirements During Termination Period
- Transfers to Organizations not Described in Sections 501(c)(3) or 4947(a)(1)
- Taxable Transfers
- Extension of Time to Assess Deficiencies for Section 507(b)(1)(B) Terminations
- Certain Transfer of Assets
- IV. Examination Techniques
- Imposition of Section 507(c) Tax
- Aggregate Tax Benefit Defined
- Valuation of Assets
- Tax Liability on Transferred Assets
- Transfer of All Rights Title and Interest
- Abatement of Taxes
- Filing Requirements
- V. Issue Indicators and Examination Tips
- Issue Indicators
- Examination Tips
- VI. Example Worksheets / Exhibits
- Section 507 Termination Tax Example
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