Nonprofits can change their fiscal year-end without prior approval from the IRS if certain conditions are met. Of course, the Board of Directors must approve, but organizations are not required to file Form 1128 if the fiscal year has not been changed within the past 10 years. Just write “Change of Accounting Period” at the top of your short-year 990 for the new fiscal year-end. For organizations filing a Form 990-N, you’ll need to file a 990 or Form 1128 to report the change. Don’t forget to amend your bylaws if they state the fiscal year-end.
August 31, 2015