[E-file Error Code F990PF-055-01] How do I resolve it?
15 views | Last modified 4/13/2021 3:40:03 AM EST | Added by ExpressTaxExempt Team

Applicable To
990-PF 990-N 990-EZ 990 8868 1120-POL

IRS Error Code F990PF-055-01

In Form 990-PF, if the Final Return is stated, then the refunded amount which needs to be credited in 2021 must be zero.

What does it mean:

The foundation that filed its final return must not have entered zero for the refunded amount, which needs to be credited in 2021. In this case, the IRS would have rejected the return.

Resolution:

Your foundation should enter zero for the refunded amount, which needs to be credited in 2021.

Here's how to resolve the error

  1. Log in to your ExpressTaxExempt account.
  2. Identify the rejected return either from the Dashboard or Forms History.
  3. To identify it from the Dashboard, keep a note of the Return ID of the rejected return that you find in the rejection email. 
  4. To identify it from the Forms History page, click the Tax Returns on the menu, and you'll land in the Forms History page, where you'll find the rejected return listed. 
  5. In both options, you need to click on the Rejected by the IRS button found against the rejected return to find the list of errors. Then, click the Fix Me button against the error code F990PF-055-01.
  6. Based on the filing type you have chosen, you will be navigated to the corresponding page.
    1. Interview-based filing - You'll be directed to Excise Tax Based on Investment Income Section. Here enter zero for the refunded amount, which needs to be credited in 2021.
    2. Form-based filing - You'll be directed to Part VI, Line 11 of Form 990-PF. In that line, enter Zero.
  7. Review the details, and click the Transmit button to re-transmit your return to the IRS at no additional cost.

We'll keep you informed on the status of the return once we hear back from the IRS.

For any further assistance, we recommend contacting the IRS e-Help Desk Toll-Free Number 1-866-255-0654.

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