Risk Management Fee and IRS 990 Form-Due October 15th

Risk Management Fee and IRS 990 Form-Due October 15th

Risk Management Fees Due October 15, 2019

If you were not able to take advantage of the Early Bird Rebate by paying your fees by October 1, your Risk Management Fees are due in full by October 15. Alternatively, a chapter may choose to only pay 50% on October 15 and the remaining payment due on March 15. Additional Fee information can be found at TKE.org/Finance.

If your payment is not received on time, your insurance coverage will be canceled and you will be charged an Insurance Reinstatement Charge of $250. Failure to pay your Risk Management Fee will result in coverage cancellation and may result in your chapter's loss of recognition with Tau Kappa Epsilon. To view and pay the Risk Management Fees invoice, please log in to the TKE Chapter Module at https://module.tke.org.

990-N Tax Forms Due October 15, 2019

October 15 is the final day to file your 990-N tax form. To avoid the risk of losing your chapter or colony's status as a tax-exempt organization, you must file your taxes by the deadline.

Save yourself a lot of hassle and do not miss this deadline. The process to reinstate your status is listed below.

What do I do if my group has lost its tax status?
If your group has lost its tax status, you will need to file IRS 1024 to be reinstated as a 501(c)7. You can find form 1024 on the IRS website. There is a one-time fee of $850.00, due to the IRS in order to process your paperwork. More information about the revocation and reinstatement can be found here.

Where can I go with additional questions?

Tau Kappa Epsilon Fraternity has partnered with File990.org for IRS 990 & 1024 support. Through this support, File990.org will provide the following services to TKE groups:

  • Form 990 (Annual Filing)
    • Reminders to all TKE groups when they need to file their 990 tax form.
    • Phone and email support to any TKE group with their annual 990 tax filing.
    • If you are interested in filing IRS Form 990 using the file990.org system, the cost will be at a discounted price $29.95. For all 990 questions, please contact JB Goll, Director of National Accounts, at jb@legfi.com.
  • Form 1024 (Reinstatement Filing)
    • Support and assistance through the reinstatement filing process.
    • Through this support, File990.org will provide a Certified Public Accountant (CPA) to assist you with your reinstatement filing using Form 1024. The fee for this service will be at a discounted rate of $1,000.00 in addition to the IRS refilling fee of $850.00. If you are interested in using this service, please contact Cindy Bell, File990.org CPA, at cindy@legfi.com.

For more information about File990.org, you may visit their website – www.file990.org, or give them a call at 859-309-3640.

Every chapter and colony in TKE Nation must complete the 990-N tax form.

Tau Kappa Epsilon is organized as a 501 (c) 7 non-profit corporation and is recognized by the IRS as a tax-exempt organization. Unfortunately, even with federal tax-exempt status, you WILL need to file with the IRS annually. Visit our TAX PAGE to learn more. Also, see How to file your 990-N.

For more information, please contact:

Jimmy A. McClenan
Collegiate Finance Specialist
317-872-6533 ext.
jmcclenan@tke.org

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