How Often Must You Renew a 501(c)(3)?

By Wayne Thomas

Running a nonprofit organization requires strict adherence to both state and federal laws. And if your organization pursues federal 501(c)(3) tax exempt status, you must go through a cumbersome application process with the Internal Revenue Service. However, once you have been approved, your organization does not need to renew its 501(c)(3) exemption.

Running a nonprofit organization requires strict adherence to both state and federal laws. And if your organization pursues federal 501(c)(3) tax exempt status, you must go through a cumbersome application process with the Internal Revenue Service. However, once you have been approved, your organization does not need to renew its 501(c)(3) exemption.

Filing Requirements

Although your organization's 501(c)(3) status does not need to be renewed through the IRS, there are other filing requirements that you must observe in order to continue to legally operate. Specifically, the IRS requires you to file an annual report outlining your yearly revenue and activities. You must also comply with any specific state reporting and registration requirements. Failure to do so could result in loss of the exemption and corporate status.

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References

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