IRS Issues Final Regulations On Donor Reporting Requirements For Tax-Exempt Organizations

On May 28, 2020, the Treasury Department and Internal Revenue Service issued final regulations changing the requirements of certain tax-exempt organizations to report donor information to the IRS.¹ Under the new regulations, tax-exempt organizations, other than private foundations and public charities described in section 501(c)(3) and political organizations described in section 527, are no longer required to report the names and addresses of substantial contributors to the IRS on annual information returns. The new rule will change donor reporting requirements for various tax-exempt organizations, including social welfare organizations described in section 501(c)(4), labor organizations described in section 501(c)(5), and trade associations described in section 501(c)(6).