2.1 Preparation Methods

Form AG990-IL can be prepared using IRS-approved tax software or manually. Organizations may utilize professional services or internal resources to ensure accuracy. The form must include detailed financial data, signatures, and required attachments. Proper preparation is crucial to avoid delays or penalties. Ensure all sections are completed accurately, adhering to Illinois state guidelines for charitable organizations. This method ensures compliance and efficient filing.

2.2 Electronic vs. Paper Filing

Electronic filing of Form AG990-IL is recommended for faster processing and reduced errors. Online submission through the Illinois Attorney General’s portal is secure and efficient. Paper filing is also accepted but requires mailing the completed form with all attachments to the specified address. Both methods must include the $15 filing fee. Choose the method that ensures timely and accurate submission to avoid penalties. Paper filings may take longer to process.

Filing Deadline and Late Fees

Form AG990-IL must be filed within six months after the close of the organization’s fiscal year. A $100 late filing fee applies if the form is not submitted on time.

3.1 Due Date for Submission

Form AG990-IL must be submitted within six months after the organization’s fiscal year ends. The deadline is strictly enforced, with no exceptions for extensions unless formally approved. Late submissions incur penalties, emphasizing the importance of timely filing to avoid additional fees and compliance issues.

3.2 Consequences of Late Filing

Failing to file Form AG990-IL on time results in a $100 late filing fee. Additionally, late submissions may jeopardize an organization’s tax-exempt status. Repeated or severe delays could lead to further penalties or state-level actions, emphasizing the importance of timely compliance to maintain legal standing and public trust.

Required Attachments and Supporting Documents

Submit financial statements, including a balance sheet and income statement, along with a $15 filing fee and a copy of IRS Form 8868 if applicable.

4.1 Financial Statements

Organizations must attach complete financial statements, including a balance sheet and income statement, covering the fiscal year. These documents should be prepared using standard accounting practices. While a CPA review is not mandatory for all, it is recommended for larger organizations to ensure accuracy. Financial statements must be filed alongside the AG990-IL form, with no exceptions for incomplete or partial submissions. A $15 filing fee is also required.

4.2 Filing Fee and Payment Methods

The filing fee for Form AG990-IL is $15. Payment must be made by check or money order payable to the Illinois Charity Bureau Fund. The payment should accompany the completed form and required attachments. Mail the check to the designated address to ensure timely processing. This fee is non-refundable and required for all submissions. Proper payment ensures compliance with state regulations.

Signature Requirements

Form AG990-IL must be signed by an authorized representative, such as an officer or director, to validate the accuracy of the submitted information and ensure compliance.

5.1 Authorized Signatories

The AG990-IL form requires signatures from authorized individuals, such as officers, directors, or trustees, to validate the accuracy of the submitted information. These signatories must have the legal authority to act on behalf of the organization. Their signatures confirm the report’s completeness and compliance with Illinois regulations. Missing or forged signatures may result in penalties or rejection of the filing.

5.2 Importance of Signatures

Signatures on AG990-IL are crucial for verifying the accuracy of the information and ensuring compliance with Illinois charitable reporting requirements. They legally bind the organization to the submitted data, confirming its authenticity. Missing or forged signatures may lead to penalties, delayed processing, or rejection of the filing, emphasizing the necessity of proper authorization and accountability in the submission process.

Special Requirements for Professional Fundraisers

Professional fundraisers must submit additional attachments, including contracts and disclosure statements, with Form AG990-IL. This ensures transparency in their activities and compliance with Illinois regulations.

6.1 Additional Attachments

Professional fundraisers must submit contracts, disclosure statements, and detailed compensation arrangements with Form AG990-IL. These attachments ensure transparency in fundraising activities and compliance with Illinois charitable solicitation laws. The contracts must outline terms, fees, and responsibilities, while disclosure statements must clearly describe the fundraiser’s role and any potential conflicts of interest. Proper documentation is critical to avoid penalties and maintain regulatory compliance;

6.2 Disclosure Requirements

Professional fundraisers must disclose their role, compensation, and any potential conflicts of interest in the activities of the charitable organization. Written agreements outlining these terms must be submitted with Form AG990-IL. Additionally, fundraisers must provide clear, accurate information about the charitable purpose and the use of contributions. Failure to meet these disclosure requirements may result in penalties and damage to the organization’s credibility and compliance status.

Filing Extensions and Amendments

Extensions for filing Form AG990-IL can be requested using IRS Form 8868, granting an automatic six-month extension. Amendments must be filed if errors are discovered after submission, requiring a corrected form to be submitted with clear explanations of changes made to ensure compliance and accuracy in reporting.

7.1 Requesting an Extension

To request an extension for filing Form AG990-IL, organizations must submit IRS Form 8868, which grants an automatic six-month extension. This form must be filed by the original due date of the report. The extension provides additional time for preparation but does not delay the payment of any required fees. Organizations should ensure timely submission to avoid late filing penalties.

7.2 Amending a Filed Report

If errors or omissions are discovered in a submitted Form AG990-IL, organizations must file an amended report. This is done by completing a new form, marking it as “Amended,” and including corrected financial statements and required signatures. The amended report should be submitted promptly to ensure compliance and avoid further penalties. Organizations should also provide a brief explanation of the changes made.

Simplified Filing Options for Small Organizations

Small organizations with gross contributions and assets of $25,000 or less may file a simplified AG990-IL with required signatures, reducing reporting requirements and streamlining compliance.

8.1 Eligibility Criteria

Small organizations with gross contributions and assets of $25,000 or less may qualify for simplified filing. Eligibility is based on financial thresholds, ensuring smaller charities can file a less detailed report. This option reduces administrative burdens while maintaining compliance with state regulations. The form must still include total revenue, expenditures, and assets, and be complete with all required signatures to be accepted.

8.2 Reduced Reporting Requirements

Eligible small organizations may file a simplified report, disclosing total revenue, total expenditures, and assets at the fiscal year end. This streamlined process reduces the administrative burden, allowing smaller charities to focus on their mission while maintaining compliance. The simplified report must still include all required signatures and adhere to submission guidelines to be considered complete. This option is designed to ease the filing process for qualifying organizations.

Submission Guidelines

Form AG990-IL must be submitted either online or by mail to the specified address in Springfield, IL. Ensure the report is complete, with all required attachments and fees included, to be considered filed.

9.1 Mailing Instructions

Mail the completed Form AG990-IL to the Illinois Attorney General’s office in Springfield, IL. Include all required attachments, such as financial statements and the $15 filing fee. Ensure the check is payable to the Illinois Charity Bureau Fund. Use a trackable shipping method for confirmation. The address is clearly provided in the form instructions to ensure timely delivery and compliance with submission requirements.

9.2 Online Submission Process

Submit Form AG990-IL online through the Illinois Attorney General’s website. Create an account, upload required documents, and pay the $15 filing fee using a credit card or e-check. Ensure all sections are completed and attachments are included. Upon submission, you will receive a confirmation email. This method is efficient and ensures timely filing, with real-time tracking available through the portal.

Consequences of Incomplete or Late Filings

Failure to file Form AG990-IL on time results in a $100 late fee; Repeated noncompliance may jeopardize tax-exempt status and lead to additional penalties or legal action.